Bank Of Baku

Deputy Minister: Price of solar panels dropped by up to 90% in last 10 years

Deputy Minister of Energy of Azerbaijan Elnur Soltanov

© APA | Deputy Minister of Energy of Azerbaijan Elnur Soltanov

# 12 December 2024 12:10 (UTC +04:00)

"Currently, every citizen, legal entity or individual in Azerbaijan can install a renewable electricity system (solar energy - ed.) with a capacity of up to 100 kilowatts," Deputy Minister of Energy of Azerbaijan Elnur Soltanov told APA-Economics.

"This is a fairly large number. For example, the capacity of solar panels that an average family would need is 4-5 kilowatts," the deputy minister noted.

According to him, citizens using such systems can sell energy to the general energy system when there is excess energy production, and buy it when there is a shortage of production: "This is already a reality, and there are many successful projects in Azerbaijan that implement this."

Elnur Soltanov also added that the price of solar panels has fallen rapidly, and in the last 10 years their price has decreased by up to 90%.

"If this trend continues, it seems to me that it will be profitable. Especially in remote areas, where there are certain problems with the supply of electricity, we will see the success of such projects," the deputy minister emphasized.

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