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The Turkey renewable energy market reached a size of 61.8 GW in 2025 and is forecasted to grow to 96.1 GW by 2034, reflecting a CAGR of 4.88% during the 2026-2034 forecast period. Market growth is driven by rising energy demand, energy security concerns, and innovations in solar and wind energy storage solutions supported by government and private partnerships. This development contributes to reducing reliance on fossil fuels and promotes sustainable energy adoption in Turkey.

Study Assumption Years

• Base Year: 2025

• Historical Year/Period: 2020-2025

• Forecast Year/Period: 2026-2034

Turkey Renewable Energy Market Key Takeaways

• The market size stood at 61.8 GW in 2025.

• The forecast CAGR is 4.88% during 2026-2034.

• The forecast period is 2026-2034.

• Private sector investments and international partnerships, including a $1 billion deal with the World Bank in 2024, are supporting renewable energy expansion.

• Technological advancements in solar and wind power enhance efficiency and cost-competitiveness.

• Improving energy storage solutions and smart grid technologies increase the reliability and integration of renewable sources.

• Rising energy demand and the need to reduce dependence on foreign fossil fuels drive market growth.

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Market Growth Factors

The Turkey renewable energy sector is experiencing increasing private sector investment and international collaboration. The favorable regulatory environment and lucrative incentives have attracted both domestic and international players. Notably, in 2024, Turkey and the World Bank signed a $1 billion deal aimed at enhancing renewable energy, focusing on distributed solar energy expansion and battery storage testing. The program involves Turkey’s Development and Investment Bank (TKYB) and Industrial Development Bank (TSKB). These strategic partnerships strengthen the financial and technical capacity of the sector while aligning with global renewable energy goals and sustainable development.

Technological progress plays a crucial role in market expansion, with innovations raising efficiency and lowering costs in solar and wind power generation. Energy storage improvements, such as advanced battery systems, address intermittency issues, improving the reliability of renewable sources. Furthermore, the incorporation of smart grid technologies facilitates better integration and management of renewable energy on the national grid. Government and private sector R&D collaborations foster local manufacturing capabilities and technology development, reducing imports and overall project costs. An example includes the May 2024 agreement between GE Vernova and Kalyon PV to supply FLEXINVERTER™ solar power stations for a project in Viranşehir.

Rising energy demand fueled by Turkey’s growing population and economic expansion underpins the need for sustainable and diversified energy sources. Dependence on imported fossil fuels poses supply disruption risks and price volatility challenges. Turkey's investment in renewables aims to reduce this dependence and bolster energy security. Domestic renewable energy sources provide a stable and dependable energy supply, mitigating geopolitical and price risks associated with fossil fuels, thereby securing long-term energy sustainability for the country’s economy and population.

Market Segmentation

Type:

• Hydro Power: The market includes hydro power, which forms a significant renewable energy proportion in Turkey.

• Wind Power: Wind energy contributes to the renewable mix, benefiting from technological advancements.

• Solar Power: Solar power is expanding rapidly with innovations and investments enhancing capacity.

• Bioenergy: Bioenergy remains a part of the renewable portfolio.

• Others: Other renewable energy types are also part of the market landscape.

End User:

• Industrial: Industrial sectors are consumers of renewable energy, contributing to demand.

• Residential: Residential usage of renewable energy is growing, aiding market expansion.

• Commercial: The commercial sector also utilizes renewable energy, supporting market uptake.

Regional Insights

The report identifies key regions within Turkey, including Marmara, Central Anatolia, Mediterranean, Aegean, Southeastern Anatolia, Blacksea, and Eastern Anatolia. These regions are covered comprehensively, but specific dominant region statistics or market share data are not explicitly provided in the source.

Recent Developments & News

In June 2024, Enspire Enerji, a Turkish company under Entek Elektrik, acquired a 214 MW solar project in Romania from Econergy for EUR 32.9 million, pending construction readiness and regulatory approvals. In November 2023, PV Hardware (PVH) completed the installation of solar panels for Turkey's YEKA-4 130MWp project, a critical step toward integrating 10GW solar energy into Turkey’s grid by 2027.

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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