Wind, solar energy saves Turkey $7 bln in imports
In the following months, approximately $700 million in savings is expected each month if the gas price remains the same, the think-tank predicted.
“Like many countries, Turkey has recently suffered from soaring electricity prices. The monthly wholesale power price has risen by almost sixfold in a year, with fossil fuel prices playing a significant role,” it said.
Wind and solar power plants generated 46.3 terawatt-hours (TWh) of electricity between May 2021 and April 2022, according to the report.
“Without these power plants, underutilized gas-fired plants or coal power plants relying on imports would have had to run in order to compensate for them. Assuming that all 46.3 TWh power was generated by gas-fired plants, this would mean wind and solar power replaced $7 billion extra gas imports during that 12 month period.”
Wind power plants, with their 32.2 TWh generation between May 2021 and April 2022, own the lion’s share in the import savings with $5 billion while solar power plants account for $ 2 billion import savings, with 86 percent of that from unlicensed solar power plants, the report added.
The Russian invasion of Ukraine deepened the fossil fuel crisis across the world, keeping prices high, with correspondingly painful fossil gas import bills for Turkey, it said
“Between the beginning of the war on 24th February and the end of April, 2 billion USD of potential fossil fuel imports were replaced by wind and solar power generation in Turkey. As long as the escalation continues, the contribution from wind and solar power in lowering these bills will continue rising at the same speed.”