Bosnia and Herzegovina Solar Report

Discover comprehensive insights into the statistics, market trends, and growth potential surrounding the solar panel manufacturing industry in Bosnia and Herzegovina

  1. Solargis (2020). Solar resource maps of Bosnia and Herzegovina. Retrieved July 7, 2024, from Solar resource maps and GIS data for 200+ countries | Solargis
  2. Jingsun New Energy And Technology (2023, November 10). Solar Energy Development Prospects in Bosnia and Herzegovina: Opportunities and Challenges. Retrieved July 7, 2024, from https://www.jingsun-power.com/news/solar-energy-development-prospects-in-bosnia-a-72411425.html#:~:text=The%20Current%20Status%20of%20Solar%20Energy%20in%20Bosnia%20and%20Herzegovina&text=As%20of%20the%20end%20of,radiation%20of%20around%202%2C400%20hours
  3. Contemporary Materials (Renewable energy sources) (2011). Analyses of PV systems of 1 kw electricity generation in Bosnia and Herzegovina. Retrieved July 7, 2024, from https://www.savremenimaterijali.info/sajt/doc/file/casopisi/2_2/3_pavlovic.pdf
  4. Global Petrol Prices (2023, December). Bosnia and Herzegovina electricity prices. Retrieved July 7, 2024, from https://www.globalpetrolprices.com/Bosnia-and-Herzegovina/electricity_prices/
  5. NOSBIH – Independent System Operator in Bosnia and Herzegovina (2024, July 5). Procurement of electricity to cover transmission system losses for October, November and December 2024. Retrieved July 7, 2024, from https://www.nosbih.ba/en/
  6. Solarno.net (2024, April 1). Nearly 900 solar power plants have been installed in the FBIH. Retrieved July 7, 2024, from https://solarno.net/u-fbih-instalisano-skoro-900-solarnih-elektrana/
  7. The Srpska Times (2024, February 2). Solar boom in the Republic of Srpska. Retrieved July 15, 2024, from https://thesrpskatimes.com/solarni-bum-u-republici-srpskoj/
  8. Balkan Green Energy News (2022, March 11). Bosnia and Herzegovina plan four more large-scale solar power plants. Retrieved July 7, 2024, from https://balkangreenenergynews.com/bosnia-and-herzegovina-plans-four-more-large-scale-solar-power-plants/
  9. Balkan Green Energy News (2024, April 16). Federation of BiH drafts 2025-2030 renewable energy auctions plan. Retrieved July 7, 2024, from https://balkangreenenergynews.com/federation-of-bih-drafts-2025-2030-renewable-energy-auctions-plan/
  10. Country Economy (2023, December). Bosnia and Herzegovina, maintains its electricity among the cheapest in Europe. Retrieved July 7, 2024, from https://countryeconomy.com/energy-and-environment/electricity-price-household/bosnia-herzegovina
  11. Statista (2023, August 09). Natural gas prices for households in Bosnia and Herzegovina from 2015 to 2022, semi-annually. Retrieved July 7, 2024, from https://www.statista.com/statistics/640167/natural-gas-prices-for-households-in-bosnia-and-herzegovina/
  12. Research gate (2023, October). Wind Farm Energy Production in Bosnia and Herzegovina: Levelized Cost of Energy. Retrieved July 7, 2024, from https://www.researchgate.net/publication/376589035_Wind_Farm_Energy_Production_in_Bosnia_and_Herzegovina_Levelized_Cost_of_Energy
  13. Worldometers (2016). Electricity Generation in Bosnia and Herzegovina. Retrieved July 7, 2024, from https://www.worldometers.info/electricity/bosnia-and-herzegovina-electricity/
  14. International Energy Agency (IEA) (2021). Largest source of electricity generation in Bosnia and Herzegovina. Retrieved July 7, 2024, from https://www.iea.org/countries/bosnia-and-herzegovina/electricity
  15. World Bank Group (2023). Access to electricity (% of population). Retrieved July 7, 2024, from https://data.worldbank.org/indicator/EG.ELC.ACCS.ZS?utm_
  16. Energy Community (2022, November 1). Bosnia and Herzegovina Annual Implementation Report. Retrieved July 7, 2024, from https://www.energy-community.org/dam/jcr:3da7c4f8-ea23-4169-b1e9-66b0ed05fcb7/EnC_IR2023.pdf
  17. World salaries (2024). Average Solar Engineer Salary in Bosnia and Herzegovina for 2024. Retrieved July 7, 2024, from https://worldsalaries.com/average-solar-engineer-salary-in-bosnia-and-herzegovina/
  18. Economic Research Institute (2024, July 07). Solar Thermal Installer Salary in Bosnia-Herzegovina. Retrieved July 7, 2024, from https://www.erieri.com/salary/job/solar-thermal-installer/bosnia-herzegovina
  19. Salary Expert (2024). Designer Solar Energy Systems. Retrieved July 7, 2024, from https://www.salaryexpert.com/salary/job/designer-solar-energy-systems/bosnia-herzegovina/mostar
  20. Worldometers (2024, July 07). Bosnia and Herzegovina Population. Retrieved July 7, 2024, from https://www.worldometers.info/world-population/bosnia-and-herzegovina-population/#google_vignette
  21. Indomio (2024, July 07). Commercial Property for rent in Banja Luka, Bijeljina, Mostar and Sarajevo. Retrieved July 7, 2024, from https://www.indomio.ba/en/to-rent/commercial/multiple-areas/area-ids_451544,451546,451548,451666
  22. Vodovod Banja Luka (n.d.). Water pricelist. Retrieved July 7, 2024, from https://vodovod-bl.com/cir/cjenovnik-cir/
  23. Statista (2024, March). Insurances – Bosnia and Herzegovina. Retrieved July 7, 2024, from https://www.statista.com/outlook/fmo/insurances/bosnia-and-herzegovina
  24. Privacy Shield (n.d.). Bosnia Herzegovina Country Commercial Guide. Retrieved July 7, 2024, from https://www.privacyshield.gov/ps/article?id=Bosnia-Energy
  25. Deutsche Welle (2024, August 16). Renewable energy rollout stalls in Bosnia. Retrieved July 7, 2024, from https://www.dw.com/en/coal-and-corruption-impede-rollout-of-clean-energy-in-bosnia/a-62161285
  26. Library of Congress (2022, March 05). Bosnia and Herzegovina: New Law on Renewable Energy Sources of Republika Srpska Enters into Force. Retrieved July 7, 2024, from https://www.loc.gov/item/global-legal-monitor/2022-07-18/bosnia-and-herzegovina-new-law-on-renewable-energy-sources-of-republika-srpska-enters-into-force
  27. CMS Legal (n.d.). Electricity Law and Regulation in Bosnia and Herzegovina. Retrieved July 7, 2024, from https://cms.law/en/int/expert-guides/cms-expert-guide-to-electricity/bosnia-and-herzegovina
  28. Advokatska firma Sajic (2022, November 22). Requirements for approval of solar power plants operation in The Republic of Srpska and The Federation of Bosnia and Herzegovina. Retrieved July 7, 2024, from https://advokatskafirmasajic.com/blog/requirements-for-approval-of-solar-power-plants-operation-in-the-republic-of-srpska-and-the-federation-of-bosnia-and-herzegovina/
  29. Fairplanet (2022, August 18). Bosnian government makes rare push for solar energy. Retrieved July 7, 2024, from https://www.fairplanet.org/editors-pick/bosnian-government-makes-rare-push-for-solar-energy/
  30. The International Trade Administration (2024, April 22). Bosnia and Herzegovina – Country Commercial Guide. Retrieved July 7, 2024, from https://www.trade.gov/country-commercial-guides/bosnia-and-herzegovina-energy
  31. Reliefweb (2024, April 10). UNDP presented the first Interactive Solar Atlas in Bosnia and Herzegovina. Retrieved July 7, 2024, from https://reliefweb.int/report/bosnia-and-herzegovina/undp-presented-first-interactive-solar-atlas-bosnia-and-herzegovina

Key points

  • All figures have been converted into USD

Yearly sunshine (sun hours per year)

Bosnia receives approximately 2,100 to 2,500 hours of sunshine per year. The average intensity of solar radiation in Bosnia is approximately 1,500 kWh/m2 annually.12

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kWh per kWp installed

The national average for kWh per kWp installed in Bosnia annually typically ranges from 1,400 to 1,600 kWh/kWp.3

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Average cost per kWh from utility company

According to the data from December 2023, the average price of electricity for households in Bosnia and Herzegovina is $0.096 per kWh. This includes all components of the electricity bill such as the cost of power, distribution and taxes.

For businesses, the average electricity price in Bosnia and Herzegovina is $0.109 per kWh.4

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Reliability of electrical power supply grid

The frequency of power outages in Bosnia and Herzegovina varies annually, but in 2022, the country experienced 61 interruptions in its electricity system.5

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Detailed Information

  • All figures have been converted into USD

    • Total solar panel production capacity (installed)

    As of the end of 2023, the installed photovoltaic (PV) capacity in Bosnia was 153 MW (74 MW in Republic of Srpska and 79 MW in the Federation of Bosnia and Herzegovina).67

    Total solar panel production capacity (projected)

    There are several large-scale projects totaling an additional 752.5 MW in various stages of development or testing phase.8

    This brings the total current and projected solar PV capacity in the country to approximately 900 MW.9

    Average costs of various electricity generation sources (coal, natural gas, solar, etc)

    101112

    The average price of electricity in December 2023 was $0.091 per kilowatt hour.

    The price of natural gas as of October 2022 was $0.043 per kWh.

    Cost of energy for wind farms are in the range of $55-77/MWh.

    For solar power, the cost is estimated to be around $0.049 per kWh.

    Percentages of various electricity generation sources (coal, natural gas, solar, etc)

    1314

    Coal: 60%

    Hydropower: 33%

    Solar: 0.14%

    Wind: 0.01%

    Other renewables: 0.14%

    Fossil fuels (excluding coal): 6.97%

    Average daily availability of electricity from the national grid (measured in hours)

    Bosnia and Herzegovina have an electricity access rate of nearly 100% of the population, boasting a highly developed and reliable electricity supply system that provides continuous power availability for its residents and industries. The average daily electricity availability from the national grid is nearly 24 hours.15

    Number of residential solar panel installations

    The search results do not provide the exact number of residential solar panel installations in Bosnia and Herzegovina because there is no publicly accessible database that documents this information.

    Total number of solar farms (installed and projected)

    By the end of 2023, a total of 1340 solar power plants have been installed (452 in Republic of Srpska and 888 in the Federation of Bosnia and Herzegovina).67

    Off-grid market demand for solar panels (current and projected)

    Currently, there is no publicly accessible database documenting the number of consumer solar PV installations, as individuals generating their own electricity are not mandated by law to acquire a permit. Due to the lack of a proper regulatory framework, including improvements in energy audits and certification of buildings procedures, the number of consumer or residential rooftop solar PV installations remains relatively low.16

    On-grid market demand for solar panels (current and projected)

    Approximately 5,000 households have enrolled in the initiative backed by the Electric Power Industry of the Republic of Srpska, aimed at subsidizing the installation of future prosumers’ rooftop systems.7

    Average monthly income of workers in solar industry (labor cost)

    171819

    The average gross monthly salary in Bosnia is approximately $700.

    Solar Engineer – $1,234

    Solar Thermal Installer – $806

    Designer of Solar Energy Systems – $1,222

    Population of the country

    The current population of Bosnia and Herzegovina is 3,194,168 people.20

    Average overhead costs of solar panel production (with a brief breakdown)

    Estimate for Factory Rent 21

    The average price of factory rent is approximately $1.7 – $4 per sqm.

    Industrial Electricity Rates 4

    The average industrial electricity price is $0.08 per kWh as of May 2023.

    Electricity prices for industrial users in Bosnia and Herzegovina are 40% lower than the EU average.

    Water Costs 22

    Water rate for industrial use is $1.87 per cubic meter (m³).

    Salaries and Wages: 18

    Workers in the solar industry earn average monthly incomes in the range of $800 to $1230.

    Rent for Office Space 21

    Rental prices for commercial properties range from $11 to $22 for central areas, and $5.5 to $11 for suburban areas.

    Insurance 23

    The average spending per capita in the Property Insurance market is estimated to $111.90 in 2024.

    A summary of the energy infrastructure

    241625

    Electric power generation is a key sector of economic activity in BiH. The country is a net exporter of electrical energy.  The generating capacity is about 16,000 GWh.

    Bosnia’s energy sector is dominated by thermal and hydroelectric power generation. The country has a diversified energy mix, with almost 40% of electricity coming from hydropower and 60% from thermal (coal-fired) power plants. However, the energy infrastructure is fragmented, with three state-owned power companies operating along ethnic/geographic lines rather than for technical reasons.

    The three state-owned electric power generation and distribution companies are: Elektroprivreda BiH (EPBiH), Elektroprivreda Republika Srpske (EPRS), and Elektroprivreda Hrvatske Zajednice Herceg-Bosna (EPHZHB).

    Bosnia needs to invest over $6 billion to modernize and expand its energy infrastructure, including upgrading power generation facilities and the electricity grid. The European Bank for Reconstruction and Development (EBRD) and other international institutions have provided financing for infrastructure improvements.

    Recent developments include the construction of new solar and wind power projects through public-private partnerships and concession agreements.

    Some of the government regulations surrounding solar panel production

    262728

    Bosnia and Herzegovina has recently adopted new laws to promote renewable energy, including the Law on Renewable Energy Sources in Republika Srpska and the Law on Energy in the Federation of Bosnia and Herzegovina. These provide a more stable regulatory framework for solar energy investments.

    The new laws distinguish between small-scale solar projects (up to 500 kW) and large-scale solar projects (over 500 kW). Small projects are eligible for feed-in tariffs and other financial incentives, while large projects must go through a competitive bidding process.

    To develop a solar project in Bosnia, investors must go through a multi-step approval process, including obtaining concessions, environmental permits, grid connection approvals, energy permits, and work permits. This process involves coordination across different government agencies at the entity and state levels.

    Government initiatives in solar panel production (includes investments and subsidies)

    The government of Bosnia and Herzegovina has recently taken several initiatives to promote the development of solar energy, including investments in large-scale solar projects and subsidies for citizens to install solar panels:293031

    • In March 2020, the government awarded a 50-year concession to EFT International Investments Holding for a 60 MW solar power plant in Bileća municipality, with an estimated investment of $62 million.
    • In October 2020, the government granted a concession to the public utility Elektroprivreda RS for a 100 MW solar plant in Trebinje, with an estimated investment of $86 million.
    • In January 2023, the government granted a 50-year concession to ETMAKS company for the construction of the Nevesinje solar park, a 500 MW project worth $483 million.
    • In April 2024, UNDP presented the first Interactive Solar Atlas in Bosnia, a web platform providing data on solar potential, to motivate citizens and facility owners to use solar panels with the support of the government.
    • The government has allocated about $2 billion to enhance the country’s renewable energy output, including solar, over the next five years.
    • The authorities in Bosnia recently called on citizens to apply for solar panels financed by one of the state-owned electricity companies, the first time the government has directly addressed the public regarding household energy sustainability.

    Notable solar projects in the country (installed and projected)

    831

    Solar Projects which installation started but is not fully completed:

    Bileća Solar Plant (60 MW): In March 2020, the government awarded a 50-year concession to EFT International Investments Holding for a 60 MW solar power plant in Bileća municipality, with an estimated investment of $62 million.

    Trebinje Solar Plant (100 MW): In October 2020, the government granted a concession to the public utility Elektroprivreda RS for a 100 MW solar plant in Trebinje, with an estimated investment of $86 million.

    Nevesinje Solar Park (500 MW): In January 2023, the government granted a 50-year concession to ETMAKS company for the construction of this 500 MW project worth KM $483 million. It will consist of one 200 MW plant and six units with a capacity of 50 MW each.

    Planned Solar Projects

    Sokolac Solar Plants (100 MW + 80 MW): Two international consortiums plan to invest a total of $173 million in two solar power plants in the municipality of Sokolac. One plant will have a capacity of up to 100 MW financed by Lithuanian firm SoliTek, while the other 80 MW plant will be developed by a consortium from Germany, Spain and Serbia.

    Bugojno Solar Plants (50 MW): The Central Bosnia Canton has invited bids for a concession for two photovoltaic power plants in the municipality of Bugojno with a combined capacity of 50 MW.

    Bileća Solar Park (10 MW): The government of RS has initiated a bidding procedure for a concession to develop a 10 MW solar park in the municipality of Bileća.

    Podveležje Solar Plant (36 MW): Power utility Elektroprivreda Bosne i Hercegovine (EPBiH) plans to install a 36 MW solar park near the Podveležje wind farm.

    Some of the notable solar companies (plus brief details on what they do)

    ETMax

    https://www.etmax.com/

    ETMAX is a leading company in the solar energy industry in Bosnia and Herzegovina, based in Banja Luka. Founded in 2012, they specialize in designing and constructing high-efficiency photovoltaic power plants. With over 60 MWp of installed capacity and more than 300 completed plants, ETMAX is committed to quality and innovative solutions.

    EFT Group

    https://www.eft-group.net/

    EFT Group is a prominent energy trading and investment company headquartered in London. Operating across Central and Southeastern Europe, they trade power on various European exchanges and deliver around 18 TWh of electricity annually. In Bosnia and Herzegovina, EFT has significantly invested in sustainable energy projects, including the Stanari Thermal Power Plant.

    GP Toming

    https://toming.ba/

    Toming is a leading construction company in Bosnia and Herzegovina, headquartered in Drinovci, specializing in the development of photovoltaic power plants. Since entering the renewable energy sector in 2012, Toming has successfully completed numerous solar energy projects, including notable installations like the Hodovo 1 and Ljubuški solar power plants.

    e-Solar

    https://esolar.ba/

    eSolar d.o.o. is a Sarajevo-based company specializing in the design, construction, maintenance, and measurement of photovoltaic solar power plants. Operating primarily in Bosnia and Herzegovina, eSolar offers both off-grid and on-grid solar solutions. The company is a distributor of solar panels and inverters from renowned suppliers and also provides battery storage solutions. eSolar d.o.o. is part of the larger Croatian company eSolar Dinamika d.o.o.

    Elnos Group

    https://elnosgroup.com/

    Elnos Group is an international electrical engineering company based in Banja Luka, Bosnia and Herzegovina. With over 75 years of experience, Elnos Group is involved in numerous high-voltage projects up to 400 kV across Europe. In Bosnia, the company has spearheaded significant infrastructure projects, including the construction of the Bileća Solar Power Plant, the largest solar endeavor in the country, and participation in the development of the Krivača Wind Park. Their expertise extends to power plants, transmission lines, and modernizing power grids.

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