Solar plant development in Lithuania needs major stimulus
The Lithuanian Energy Ministry has drawn up ambitious plans for the development of solar power in Lithuania. However, market participants pointed out that in order to realize these plans, a major stimulus is needed.
Ruslan Sklepovic, chairman of the management board at the renewable energy company Modus Energija said that a boom is needed to have 34,000 electricity consumers in Lithuania within three years. He also added that Lithuania needs to provide sufficient support to ensure a solar plant pays for itself in three to four years because if that happens, everything will be regulated by the market itself.
In order to buy a solar power system Lithuania would currently need consumers that support the notion of renewable energy and with a good income as their investment would pay off in around 12 years’ time without support from the state, according to Andrius Karazinas, CEO of Solet Technics.