Serbia adds 80 MW of solar in 2024

Serbia’s solar market is set to expand with a 3.9 GW project pipeline and 80 MW added in 2024, bringing total capacity above 200 MW, the country’s renewable energy association tells pv magazine.

Serbia added around 80 MW of solar in 2024, according to the Association Renewable Energy Sources of Serbia (RES Serbia).

The association told pv magazine that official 2024 statistics have yet to be released. The 80 MW forecast would push Serbia’s total solar capacity past 200 MW, up from the 137 MW recorded by the International Renewable Energy Agency (IRENA) at the end of 2023.

Danijela Isailovic, RES Serbia general manager, said market growth in 2024 was driven by government incentives for public buildings and residential solar deployment.

Isailovic added that more than 3,000 residential prosumers now account for 26 MW of installed capacity. Serbia has no large-scale solar plants connected to the grid, but has more than 35 projects totaling 3.9 GW in development.

Isailovic said Serbia plans to develop 1 GW of solar across six sites by 2027, with growth expected to accelerate in 2025 and 2026 as 200 MW is deployed each year.

Large-scale projects announced in 2024 include 500 MW of solar through a deal with a Chinese consortium and state-owned utility Elektroprivreda Srbije’s first solar plant. A 1 GW solar panel factory agreement was signed in May 2024.

Serbia’s second renewables auction, announced in November 2024, awarded 645 MW across 10 wind and solar projects. This surpassed the initial 424.8 MW quota, with average prices hitting €0.0509 ($0.0533)/kWh for solar and €0.0535/kWh for wind.

Isailovic added that auctions and the announced large-scale investments are helping to expand the market and boost interest in solar in Serbia.