Massive Achievement Expected, But Future of Solar Power Support is Unclear

Lithuania is on track to become an electricity exporting nation within two years, a significant achievement driven by a surge in renewable energy and active participation from its citizens. Energy Minister Lukas Savickas highlighted that by 2028, the country is expected to generate more electricity than it consumes, marking a milestone in its pursuit of energy independence.

Savickas credited the rapid growth in renewable energy, particularly solar and wind power, along with the rise of 'generating consumers', individuals who produce their own electricity, for this progress. He noted that the current trend suggests Lithuania will officially become an electricity exporter in 2028. The minister emphasized that a key challenge moving forward is to create tangible value for citizens and enhance the competitiveness of Lithuanian businesses while ensuring supply stability.

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We see that the current trend allows us to expect that in 2 years, in 2028, Lithuania should already produce more electricity than we will consume that year. Simply put, from that year we will be able to be official electricity exporters. This is a huge achievement.

Significant developments are anticipated in battery storage technology this year, which will bolster the country's balancing capabilities. Savickas expressed optimism about a breakthrough in storage capacities in the coming months. He also pointed to the growing need for flexible electricity consumption, noting that on peak days, Lithuania already produces more electricity than it uses for over 60 days a year. This surplus electricity is often exported at low prices, while the desire is to consume this cheap energy domestically.

Addressing this requires promoting flexible consumption patterns, such as charging electric vehicles during peak production times and electrifying energy-intensive industries to align their consumption with these periods. The minister indicated that these areas will be a primary focus. Regarding future support for solar power plants, Savickas stated that while support will continue in some form, the emphasis will increasingly shift towards flexible consumption and energy storage solutions. Financial instruments will be directed towards these goals, with the state aiming to contribute as much as possible to achieve these objectives rapidly.

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Support will continue in one form or another, but more and more attention will be paid to flexible consumption and storage. It is precisely these goals that we will seek to direct our financial instruments towards.