Solar and wind power in Mongolia: 2024 policy overview

Mongolia possesses significant wind and solar potential, estimated at 2600 GW, yet renewable electricity production was only about 9% of the total as of 2023. The government aims for 30% renewable energy capacity by 2030 under its Vision 2050 strategy. While 12 utility-scale projects are operational with a total investment of USD 533 million, the sector faces challenges including a predominantly male workforce and a reliance on electricity imports from China and Russia (22.3% in 2023). Current regulations include USD-denominated tariffs capped in 2019 and various tax exemptions, with future plans focusing on competitive auctions and battery storage.

• Mongolia has vast renewable energy potential estimated at 2600 GW, which is over 1000 times the current installed capacity of 1.6 GW. Despite this, renewable electricity production accounted for only about 9% of the total in 2023, consisting of 6.2% wind, 2.3% solar, and 0.5% hydro.
• The Mongolian government has set a target of 30% renewable energy capacity by 2030, a goal integrated into the Vision 2050 long-term development strategy and supported by the 2021 New Recovery Policy.
• As of 2023, there are 12 operational utility-scale solar and wind projects with a total investment of USD 533.15 million, of which USD 364.5 million was invested in wind and USD 168.65 million in solar. These projects are supported by various international lenders including the EBRD, ADB, and World Bank.
• The legal framework for renewables is governed by the 2007 Renewable Energy Law. A 2019 amendment capped USD-denominated tariffs at 0.085/kWh for wind and 0.12/kWh for solar PV. Other incentives include VAT and import duty exemptions.
• Gender equality in the renewable energy workforce is below global averages. While the overall sector workforce is 29% women, individual project parity varies wildly, from the Gegeen solar park at 43% women to the Nar solar power plant, which is operated solely by men.

APA

Chinbat, B., & Cabré, M. M. (2024). Solar and wind power in Mongolia: 2024 policy overview. Stockholm Environment Institute. https://www.sei.org/wp-content/uploads/2024/10/solar-and-wind-power-in-mongolia-2024-policy-overview-sei2024-046.pdf

Chicago

Chinbat, Baigalmaa, and Miquel Muñoz Cabré. Solar and wind power in Mongolia: 2024 policy overview. Stockholm Environment Institute, 2024. https://www.sei.org/wp-content/uploads/2024/10/solar-and-wind-power-in-mongolia-2024-policy-overview-sei2024-046.pdf.

Wikipedia

{{cite report |last1=Chinbat |first1=Baigalmaa |last2=Cabré |first2=Miquel Muñoz |title=Solar and wind power in Mongolia: 2024 policy overview |publisher=Stockholm Environment Institute |date=October 2024 |url=https://www.sei.org/wp-content/uploads/2024/10/solar-and-wind-power-in-mongolia-2024-policy-overview-sei2024-046.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{chinbat2024solar, author = {Chinbat, Baigalmaa and Cabré, Miquel Muñoz}, title = {{Solar and wind power in Mongolia: 2024 policy overview}}, institution = {Stockholm Environment Institute}, year = {2024}, month = oct, url = {https://www.sei.org/wp-content/uploads/2024/10/solar-and-wind-power-in-mongolia-2024-policy-overview-sei2024-046.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }