Is solar energy a good investment in Russia?

Even though demand for solar energy in Russia is low, the Moscow-based company, Hevel, is producing solar modules with an energy conversion efficiency of 22 percent, which is the world’s highest. In addition to Hevel, only two other companies in the world produce solar equipment with similar efficiency: Panasonic (Japan), and Sun Power (U.S.).

What is Russia's largest solar energy company?

With a capacity of 20 MW, it will power about 4,000 homes and will be launched in September. The Hevel Group (" hevel " means “sun” in the Chuvash language) is Russia’s largest solar energy company, and was founded in 2009 by Renova and Rosnano, which have a 51-percent and 49-percent stake, respectively.

Does Russia have sufficient solar energy?

Despite the common misconception, Russia has more than enough insolation to produce solar energy. Moscow-based renewables company Unigreen Energy, which has received a government guarantee for its solar power contributions, confirms this.

What does Unigreen Energy say about Russia's insolation?

Unigreen Energy said Russia has more than enough insolation — solar radiation hitting an object — to produce solar energy. There is no sun there!’ Well, our data tells us differently.”

Is solar energy on the verge of a major expansion in Russia?

Solar energy in Russia might be on the verge of a major expansion thanks to a government support program for renewable energy sources, industry experts told The Moscow Times.

What is Russia's current share of solar power?

While the global economy gets roughly 10% of its power from wind and solar sources, in Russia, solar’s share is just 0.2%. As the third-largest carbon emitter in human history, Russia faces an uphill battle in its attempts to move from fossil fuels to renewable and other sources of clean energy.