Demand for Power and Market Liberalization will Drive Power Investment in the Next Decade
This energy profile provides a detailed insight into the energy sector of Turkey in the current scenario and also presents an energy forecast between the years 2018 to 2030.
The global energy sector has seen a drastic transformation in recent years and with the advancement of new technologies and energy systems, it is moving towards creating a revolution not only in terms of reach, but also in terms of accessibility, portability, and usage. With the rise of renewable sources of energy like solar and wind energy, the global energy sector is also on the verge of creating a sustainable future. According to the International Energy Agency (IEA), electricity is the fastest-growing source of energy in terms of final energy demand. It is attracting more investments than oil and gas combined. Currently, the energy sector is also responsible for two-thirds of all greenhouse gas emission and more than 80% of all carbon dioxide emission. One of the impacts of such emissions is the increase in global temperature.
In 2017 alone, global temperature increased by 1.1 degree Celsius above pre-industrial levels. More than 41 million people were affected by flooding in South Asia in 2017 alone. Because of this, the global electricity industry is shifting towards more sustainable means by slowly boycotting traditional energy generation systems and adopting more smart and efficient electricity generation measures. Since 2015, banks have reduced loans to the coal industry by more than 44%. DC electricity transmission has been found to be more reliable and efficient than AC, thus, DC is being adopted to create efficient transmission grids. Also, AI and Big Data technologies are being used to increase the efficiency of transmission and distribution.
Renewable energy systems, especially solar (PV) are getting cheaper and have reached even the most remote places on earth. Turkey has enjoyed a period of strong economic growth and with strong population growth, there has been a surge in the demand for energy in the country. Turkey’s electricity production has reached an installed capacity of 87 GW, which is a threefold increase over the last 15 years. Turkey has plans of a sustainable future in terms of electricity generation and has set a target of achieving 10 GW of additional installed capacity of solar and wind energy combined by 2026. Currently, their combined installed capacity is approximately 12 GW.
Research Highlights
- Drivers and restraints of the Turkish energy sector
- Installed capacity forecast (2018 to 2030)
- Power investment forecasts
- Overview of the electricity market of Turkey (retail, distribution, demand-supply balance, etc.)
- Incentives in electricity generation and transmission and the related support mechanism
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- International Energy Agency (IEA)
