May 15, 2025 · Total installed capacity grows to over 75 MW as new solar and energy storage projects begins construction. Niam Infrastructure, a Nordic real assets investor, announces the
Sep 10, 2024 · According to the Freeport''s plan, the area on the left bank of the Daugava River in Spilve Meadows is to be developed into a technology centre for renewable solar electricity
Jul 13, 2025 · European renewable energy provider SUNOTEC has finalized the acquisition of SIA DSE Lazas Solar''s solar and energy storage project in Latvia from Danish Sun Energy. This
Jun 19, 2025 · Latvia''s Recovery and Resilience Plan plays a key role in the energy transition, supporting economic recovery through major investments in renewables like wind, solar, and
Aug 11, 2025 · RIGA, LATVIA – [Date of Publication] – SUNOTEC, a leading international renewable energy developer, has announced a significant milestone in its European
The 100 MW solar facility will be constructed on a 177.2-hectare site in Spilve Meadows, on the left bank of the Daugava River in Riga. This project is part of the Freeport's plan to transform the area into a hub for solar electricity production, energy storage, hydrogen, and alternative fuel production, as well as an industrial and logistics park.
Lithuania’s SNG Solar is set to build a 100 MW solar plant in the port of Riga, Latvia. Upon completion, the facility will be one of the largest solar projects in the Baltics. Lithuanian solar developer SNG Solar has signed an agreement with the Freeport of Riga Authority to construct a 100 MW solar plant in the port of Riga
Lithuanian solar developer SNG Solar has signed an agreement with the Freeport of Riga Authority to construct a 100 MW solar plant in the port of Riga SNG Solar will build the 100 MW solar plant within five years, as outlined in the agreement.
Today, on 9 September, an agreement was signed between the Freeport of Riga Authority and the Lithuanian company SNG Solar on the lease of land in the Port of Riga in the Spilve Meadows area for the development of a solar energy park.
This deal marks the beginning of a major solar energy project at the port of Riga, which will include the installation of solar panels, the production and storage of renewable electricity, and the development of hydrogen and alternative fuel technologies.
Earlier this year, SNG Solar secured the land lease rights through an auction. The Freeport of Riga will receive 2.5% of the green energy generated, which will support port infrastructure and operations. The plant is expected to produce about 100,000 MWh of green electricity per year.
The global residential solar storage and inverter market is experiencing rapid expansion, with demand increasing by over 300% in the past three years. Home energy storage solutions now account for approximately 35% of all new residential solar installations worldwide. North America leads with 38% market share, driven by homeowner energy independence goals and federal tax credits that reduce total system costs by 26-30%. Europe follows with 32% market share, where standardized home storage designs have cut installation timelines by 55% compared to custom solutions. Asia-Pacific represents the fastest-growing region at 45% CAGR, with manufacturing innovations reducing system prices by 18% annually. Emerging markets are adopting residential storage for backup power and energy cost reduction, with typical payback periods of 4-7 years. Modern home installations now feature integrated systems with 10-30kWh capacity at costs below $700/kWh for complete residential energy solutions.
Technological advancements are dramatically improving home solar storage and inverter performance while reducing costs. Next-generation battery management systems maintain optimal performance with 40% less energy loss, extending battery lifespan to 15+ years. Standardized plug-and-play designs have reduced installation costs from $1,200/kW to $650/kW since 2022. Smart integration features now allow home systems to operate as virtual power plants, increasing homeowner savings by 35% through time-of-use optimization and grid services. Safety innovations including multi-stage protection and thermal management systems have reduced insurance premiums by 25% for solar storage installations. New modular designs enable capacity expansion through simple battery additions at just $600/kWh for incremental storage. These innovations have improved ROI significantly, with residential projects typically achieving payback in 5-8 years depending on local electricity rates and incentive programs. Recent pricing trends show standard home systems (5-10kWh) starting at $8,000 and premium systems (15-20kWh) from $12,000, with financing options available for homeowners.