According to the study, “Israel power market outlook to 2030, update
2018 market trends, regulations, and competitive landscape” the electricity production in Israel
has been highly monopolized by the Israel Electric Corporation (IEC). The
government has been trying to reduce IEC’s control over most of the electricity
production in the country. For a number of years, the government has been in
talks with IEC to break down into smaller companies however the negotiations
have been futile. Since the enactment of the electricity law, IEC’s major
control over the electricity production has resulted in the industry being
highly consolidated. Some
notable companies working on solar energy in Israel are Bright Source, Solel and Bren
miller Energy which all deal with utility scale projects. Additionally,
Herzliya based Solar Edge has become
a market leader in inverters for non-utility scale photovoltaic solar power.
Energy sector, particularly electricity has been highly consolidated with
little scope for private companies to enter the market, with the assistance of
the government. The overall energy sector in Israel is ready to see a paradigm
shift with some startups entering into the renewable market. The prospects for
renewable energy market are brighter and look promising as government is
aggressively trying to reach its targets of production via renewable energy.
Following the trend and Paris Climate Agreement, Israel would promote
production and use of renewable energy. The industry overall is expected to
grow beyond expectations due to positive factors complementing it from all
directions.
Over the years, various Israeli
ministries have taken various steps and measures to improve the power sector in
the country. Power is a sector that has been a catalyst
for economic growth and commercial expansion. Major energy demands in Israel
are meet through nonrenewable sources such as petroleum and coal. The total
demand for energy in Israel is greater than its production and hence, the
country is highly dependent on imports to meet up their energy requirements.
The energy sector especially gasoline
industry in Israel is being deregulated. Some of the major changes observed in
petroleum sector are: change in prices for end users and privatization of two
oil refineries.
Israeli government is planning to develop
gas based electricity sector. Numerous independent power producers including
combined cycle plants have been issued a license by the regulator. They have
also developed cutting edge solar energy technology using both photovoltaic and
concentrated solar power. There are 3 main technologies to produce biomass & biogas energy:
waste burning, fermentation, and gasification. Israel has only two wind farms, which were built in the
1990s which are active. There are currently numerous projects in the
construction stages, but it will take at least two years before the first of
these becomes active.
Key
drivers:-
Increasing Population: The growth rate
of population in Israel is particularly high even when compared to most western
countries. Characterized by increasing immigration into the country, Israel has
observed a constant rise in population. Rising population derives the demand
for energy requirement in a country.
Rising standard of living: Israel has
been placed “Very high standards of living” category of the Human Development
Index. These high standards of living translate into greater demand for
electric appliances and greater need for power generation.
Climate: The climate in Israel is
extreme characterized by hot and humid winter spreading roughly 5 months and
severe winters. The persistent change in climatic conditions requires the
population to demand more and more power to fulfill their needs.
For
more information on the research report, refer to below link:
Related Reports:
Contact Us:
Ken
Research
Ankur
Gupta, Head Marketing & Communications
+91-9015378249
