Turkish geographical potential
Turkey’s geographical location is considerably more favorable in terms of solar energy potential, placing it well ahead many countries in the solar energy market. Turkey’s average annual total sunshine duration is 2,640 hours; a total of 7.2 hours per day, with an average total radiation intensity of 1.311 kWh/m2 – years, (daily total 3.6 kWh/m2) (Source: Renewable Energy General Directorate and the State Meteorology Affairs General Directorate). Turkey has the incredible potential to produce an average of 1.100 kWh per square meter. As such, Turkey is the 2nd best country in Europe (after Spain) in terms of solar power investments potential.
Within Turkey, South-Eastern Anatolia Region has the highest solar energy potential and Mediterranean Region has the second highest solar energy potential (see radiation map).
increasing demand for energy
As a country with a rapidly growing economy, Turkey has an increasing energy need which is currently mostly met by fossil fuels and imports. To increase energy production from domestic energy resources, to decrease the use of fossil fuels and to reduce greenhouse gas emissions in Turkey, the country has enacted series of legislations. Further the Electricity Market Law was enacted in 2013 with the aim to liberalize the electricity market. Consequently, the share of energy production from renewable energy sources has increased considerably during the recent years.
Aforementioned dynamics and state guarantee for fixed purchase price (USD 13.3 Cent per kWh) provides Lykeion Solar a great opportunity.