Armenia has a significant solar energy potential. The average annual amount of solar energy flow per square meter of horizontal surface is about 1720 kWh (the average European is 1000 kWh). One fourth of the country’s territory is endowed with solar energy resources of 1850 kWh/m2/year. The Map of Solar Energy Potential in the Republic of Armenia.
Renewable Energy Investment Plan for Armenia was approved in the framework of the “Scaling-Up Renewable Energy Program (SREP)” of the Climate Investment Funds, in accordance to which SREP resources are being allocated to develop up to 110 MW utility-scale solar PV. The limit for the construction of utility-scale Solar PV Plant with up to 1 MW installed capacity is set 10 MW total installed capacity. 12 Companies recieved Licenses. Currently 4 solar PV plants (total installed capacity – about 2.6 MW) are commissioned.