A discussion on recent developments in Turkeyʹs emerging solar power market

Market reform, energy security and environmental protection are three primary energy policy goals of Turkish government. Although Turkeyʹs abundant solar energy resources can directly address the governmentʹs energy policy goals, Turkey has not utilized solar power yet. Utilization of countryʹs huge solar energy potential would decrease dependence on imported fossil fuels and contribute to fulfill environmental commitments. However, lack of regulatory and financial support for the development of solar power has considerably delayed the utilization of countryʹs huge solar potential. The government has taken only modest steps to promote investment in solar power until the end of 2010 when a new feed-in tariff policy was adapted. Turkeyʹs solar energy potential, PV technology status and prospect for concentrating solar power in Turkey have been explored in a number of studies; yet literature dealing with recent policy developments, associated investment environment and opportunities for solar power investors are limited. The aim of this paper is to set out the latest legal framework for investment in Turkeyʹs emerging solar power market and to provide some guidelines to potential investors who appreciated countryʹs huge solar energy potential.