For the last few years, Lithuania has become a frontrunner in the adoption of solar energy among the Baltic states. Despite its northern location, which traditionally poses challenges for such energy generation, Lithuania has made remarkable strides in leveraging solar energy and has significantly benefited from advancements in solar technology.
The increased efficiency and decreasing costs of photovoltaic (PV) panels have made solar energy more accessible and economically beneficial. Improved energy storage solutions and integration technologies have enhanced the stability and reliability of solar power, allowing for greater adoption even in regions with less consistent sunlight.
A big role in the Lithuanian path of successful solar development plays the EU funding and Lithuanian government, which has played a crucial role in promoting solar energy through a series of supportive policies and incentives including:
Feed-in Tariffs (FiTs): Introduced to guarantee a fixed, favorable price for solar energy fed into the grid, FiTs have provided financial stability for solar projects, encouraging investment.
Subsidies and Grants: Financial support for both residential and commercial solar installations has made it easier for individuals and businesses to adopt solar technology.
Tax Incentives: Tax reductions and exemptions for solar energy projects have further reduced the financial burden on investors and developers.
Moreover, EU policies, such as the Renewable Energy Directive, have set binding targets for member states, driving Lithuania to enhance its renewable energy capacity, including solar power.
Lithuania’s desire for energy independence and greenhouse gas reduction has become an important driver for the deployment of solar energy. Solar power contributes to a cleaner environment and helps the country meet its international climate commitments. Economically, the growth of the solar sector has created jobs, stimulated local economies, and attracted foreign investment.
Furthermore, it have been developed several large-scale solar parks among Lithuania, which exemplify the country’s potential to harness solar power on a significant scale. In addition to large solar parks, there has been a substantial increase in residential and commercial solar installations. The government’s incentives have encouraged homeowners and businesses to invest in solar panels, contributing to decentralized energy production and reducing the load on the national grid.
It is necessary to admit that the future of solar energy in Lithuania is bright, with several trends indicating continued growth. First, technological innovation continues growing within years. Ongoing research and development in solar technology are expected to further increase efficiency and reduce costs, making solar energy even more attractive. Also, the government, coupled with EU funding and policy frameworks, continues its support and will sustain the momentum in solar energy adoption.
Currently, the European Union has allocated the next tranche of 42 million euros for the installation of solar power plants in households. Applications are accepted until June 6. Current information for the individuals you can find here: https://2021.esinvesticijos.lt/invitations/view_item/id.580
For legal entities information is located here: https://www.ena.lt/galiojantys-kvietimai-saules-elektrinems/
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