It is critical to increase efficiency, attract new entrants and investments, and diversify the energy supply in Azerbaijan''s current energy system in which gas, electricity and heat are supplied by financially burdened monopolies at strongly subsidised prices.
The Memorandum includes cooperation on utility scale solar energy, onshore and offshore wind power, energy storage and integrated smart energy systems, as well as capacity assessment for investment in green hydrogen production projects in Azerbaijan.
Azerbaijan has one of the highest energy self-sufficiency ratios in the world as a major crude oil and natural gas producer. Furthermore, the government set an ambitious target of 20% renewables in electricity generation by 2020 and is developing incentiv.
Azerbaijan has yet to tap into its significant renewable energy and energy efficiency potential, but in 2021 the Parliament approved several laws to this end. Higher ambitions and greater efforts to produce renewable energy and improve energy efficiency will also help the country conserve natural gas and oil for exports while meeting GHG
Total energy supply (TES) includes all the energy produced in or imported to a country, minus that which is exported or stored. It represents all the energy required to supply end users in the country. Some of these energy sources are used directly while most are transformed into fuels or electricity for final consumption.
Energy production includes any fossil fuels drilled and mined, which can be burned to produce electricity or used as fuels, as well as energy produced by nuclear fission and renewable power sources such as hydro, wind and solar PV. Bioenergy - which here includes both modern and traditional sources, including the burning of municipal waste - is also an important domestic energy source in many countries.
Imports, particularly of fossil fuels like oil, natural gas and coal, make up an important part of the energy supply in many countries. Countries that rely heavily on imported energy may be vulnerable to supply disruption from external events such as the Covid-19 pandemic and the war in Ukraine. In countries that export large amounts of energy, falling energy prices can also cause major economic shocks.
Energy sources, particularly fossil fuels, are often transformed into more useful or practical forms before being used. For example, crude oil is refined into many different kinds of fuels and products, while coal, oil and natural gas can be burned to generate electricity and heat. Other forms of transformation, such as extracting gas or oil from coal, play a relatively minor role in the energy systems of most countries.
One of the most important types of transformation for the energy system is the refining of crude oil into oil products, such as the fuels that power automobiles, ships and planes.
Another important form of transformation is the generation of electricity. Thermal power plants generate electricity by harnessing the heat of burning fuels or nuclear reactions – during which up to half of their energy content is lost. Renewable power sources generate electricity directly from natural forces such as the sun, wind, or the movement of water.
Total final consumption (TFC) is the energy consumed by end users such as individuals and businesses to heat and cool buildings, to run lights, devices, and appliances, and to power vehicles, machines and factories. It also includes non-energy uses of energy products, such as fossil fuels used to make chemicals.
Some of the energy found in primary sources is lost when converting them to useable final products, especially electricity. As a result, the breakdown of final consumption can look very different from that of the primary energy supply (TES). Both are needed to fully understand the energy system.
The sectoral breakdown of a country''s energy demand, which is based on its economy, geography and history, can greatly impact its energy needs and which energy sources it relies on to meet those needs – such as fueling automobiles, heating or cooling homes or running factories.
As Azerbaijan seeks to diversify its economy, measures to create an efficient and sustainable energy system has become a top priority. A renewable-based energy system would offer socio-economic benefits, help to introduce innovative technologies, and provide viable low-carbon solutions to meet national climate targets.
This Renewables Readiness Assessment (RRA) highlights potential improvements to Azerbaijan’s legal and regulatory framework, as well as financing options for renewables. Despite current reliance on oil and gas, the country has excellent wind and solar resources, along with significant prospects for biomass, geothermal and hydropower development.
The Ministry of Energy of Azerbaijan undertook this study in collaboration with the International Renewable Energy Agency (IRENA) to lay the foundations for renewable energy investment going forward.
The recommendations were discussed at a meeting with representatives of the Ministry of Energy, government agencies, international organisations and experts. The head of administration at the Ministry of Energy, Zaur Mammadov, noted the effective co-operation between Azerbaijan and IRENA, citing this project as a successful result that would have a positive impact on the development of the country.
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