Analysis and Evaluation of the Photovoltaic Market in Poland and the Baltic States

Abstract

The household, industrial, and service sectors in Poland and the Baltic States have been facing ever-higher bills for their electricity consumption at a time when a number of them have been hit hard financially by the pandemic. Rising inflation, the border crisis—with its set of restrictions, or the spread of the fourth wave of the COVID-19 coronavirus pandemic, is causing strong concerns in the social and economic sphere, with significant increases in electricity prices. Many countries are implementing measures to reduce the adverse effects of rising electricity prices in response to this complex situation. The main orientation is towards obtaining energy from renewable sources, such as the sun. The current situation in the energy market determines the price per 1 KW. Among the countries under study, the price of electricity has increased the most in Poland. On the other hand, the development of the photovoltaic segment in Poland is undergoing a strong, upward trend. The above inspired the authors to explore the energy market situation in Poland and the Baltic States in the current economic conditions, along with an analysis of its development potential in light of the coronavirus pandemic. The main research problem of this study is an attempt to answer the question of what should be changed in the development of the renewable energy market in Poland, with particular emphasis on photovoltaics, to accelerate the process of reducing CO2 emissions, leading to a reduction in dramatically rising electricity prices. Which solutions implemented in the Baltic countries can inspire strengthening Poland’s energy market development?