The Armenian government has introduced financial support for businesses purchasing battery storage equipment to store electricity generated by solar plants or panels. The provisions took effect last week and apply to eligible loans and leasing arrangements for up to seven years.
The subsidy varies according to the financing method and currency. Loans in Armenian drams covering batteries and their components qualify for an 8% interest subsidy, while leases in drams receive 10%. For foreign-currency financing, the subsidy is 6% for loans and 8% for leases.
To qualify, the storage systems must be used exclusively to store electricity produced by solar plants or solar panels. Economy Minister Gevorg Papoyan said the scheme allows solar plant operators to purchase accumulators through subsidized loans or leases.
Armenia’s energy storage market remains at an early stage. An amendment to the country’s Energy Law adopted in May allowed energy storage systems to be developed for the first time, subject to licensing. Systems below 1 MW, as well as larger systems intended for self-consumption, are exempt from licensing.
Solar deployment has continued to expand in Armenia. Government statistics show that solar power accounted for 16.3% of the country’s electricity generation last year. The country also recorded a peak year for solar installations in 2025, surpassing 1 GW of cumulative solar capacity.
Sources: pv magazine.