Despite its war-torn past, Ukraine sees significant growth in its PV market by 2024, with new installed capacity reaching 800-850 MW, according to a report by the Solar Energy Association of Ukraine (ASEU). This growth is mainly driven by businesses and households relying on self-use photovoltaic systems to ensure the stability of electricity supply while addressing grid security challenges.

Vladyslav Sokolovsky, chairman of the ASEU board of directors, pointed out that the growth of the self-use market benefited from the abolition of value-added tax (VAT) and tariffs on the import of photovoltaic modules and related equipment in the summer of 2024. This policy provides strong support for the deployment of solar power generation equipment in households and businesses.

Even though the war is still going on, ASEU is optimistic about the prospects of Ukraine's photovoltaic market. In the self-generation and self-use market, more companies are investing in photovoltaic systems combined with energy storage to ensure energy security; for industrial photovoltaic projects, some new projects have been announced in 2024, and the construction of industrial photovoltaic power stations is expected to be further promoted in the future.

In addition, the Ukrainian government is considering introducing a military risk insurance mechanism for investors, while supporting industry growth through preferential loans and grant projects.

According to the National Renewable Energy Action Plan, Ukraine aims to increase its total photovoltaic installed capacity to 12.2GW by 2030.