Asia-Pacific
With a power score of 1.63, Azerbaijan ranks number 83 among Emerging Markets and number 21 in the Asia-Pacific region
Power score
1.63/5
Score over time
2021 - 2024
Azerbaijan has a power score of 1.63, which puts it at rank 83 in the Emerging Markets power ranking. In comparison to 2023, Azerbaijan has improved in the power rankings by 3 places, from rank 86, to rank 83.
At 1.63, the power score of Azerbaijan is worse than than the regional average of 1.94 in the Asia-Pacific region and puts it at rank 21 in the region.
Azerbaijan implements policies in 5/9 power policy categories tracked by Climatescope, including Renewable energy target, Renewable energy auction, Net metering, Import tax incentives, and VAT incentives.
The average electricity price in Azerbaijan has remained the same since 2022. Since 2017, the average electricity price in Azerbaijan has fluctuated between 48.36 USD/MWh (2017) and 58.82 USD/MWh (2023).
The top amount of capacity installed in Azerbaijan in 2023 was in Natural Gas at 79.62%, down from 81.92% in 2022. The technology with the biggest increase in capacity installed in 2023 was Utility-scale PV at 3.3%, up from 0.44% in 2022.
The top amount of electricity generated in Azerbaijan in 2023 was in Natural Gas at 92.7%, down from 93.29% in 2022. The technology with the biggest increase in electricity generated in 2023 was Large Hydro at 4.8%, up from 4.4% in 2022.
Investment in clean energy in Azerbaijan was around $367.20 million in 2023, a decrease of 2.32% from 2022 ($375.91 million). Between 2018 and 2023, the highest investment in clean energy was in 2022 at $375.91 million, while the lowest was in 2018 with $44.60 million.
Which segments of the power sector are open to private participation?
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Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?
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Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?
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Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?
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Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?
For more information on best practices and climate action, explore the NetZero Pathfinders project by BloombergNEF.