Renewable Market Watch? published a new report titled "Romania Solar Photovoltaic (PV) Power Market Outlook 2024÷2033 with Trends, Investments"
This market report offers an incisive and reliable overview of the country's solar photovoltaic sector for the next long-term period, 2024 ÷ 2033. Romania is located at the crossroads of Central, Eastern, and Southeastern Europe. It borders the Black Sea to the southeast, Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, and Moldova to the east. It has a predominantly temperate continental climate. With a total area of 238,397 square kilometres (92,046 sq mi), Romania is the 12th?largest country and the 7th?most populous member state of the European Union, having almost 20 million inhabitants.?According to the latest market data, the Romanian solar PV market added more than 1 GW of newly installed capacity in 2023 and scored a remarkable 308 % increase compared to the previous year's growth.?The cumulative installed PV capacity grew from 29 MW in 2012 to over 2,900 MW (2.9 GW) in 2023. After positive legal and regulatory changes from 2020 to 2023, the Romanian market has a good chance to add much more new solar PV capacity in the next years.
According to the latest market data, the Romanian solar PV market added more than 1 GW of newly installed capacity in 2023 and scored a remarkable 308 % increase compared to the previous year's growth
The energy sector is essential in Romania’s economy and security policy. At present, we are witnessing a shift from the traditional pillars of the energy sector, such as coal-fired power plants, which were the main producer of electricity and onshore fields being the only provider of oil and gas, to an energy sector where hydro and other renewable energies provide the largest share of electricity and where Romania’s oil and gas deposits could register a threefold increase as a result of the new oil and gas deposits discovered in the Black Sea basin.
At present, we are witnessing a shift from the traditional pillars of the energy sector, such as coal-fired power plants to an energy sector where hydro and other renewable energies provide the largest share of electricity
The power sector in Romania is almost equally divided between renewable and non-renewable energy producers. Electricity in Romania is primarily generated from thermal power plants (coal, natural gas, and oil), with the balance of production from hydroelectric facilities and a nuclear power plant. Taking into account the approximately 3% per year growth of energy demand,?Romania will need total investments in the energy sector between EUR 15 and 30 billion for the period 2019-2030, most of which, according to the government plans, shall be met by increases in nuclear, renewable and large hydro capacity.
Romania will need total investments in the energy sector between EUR 17 and 28 billion for the period 2024-2033
Romania’s electricity mix is one of the most balanced in the European Union, with coal, hydropower, natural gas, nuclear energy, and wind power having comparable capacity and power generation shares. Except for wind and solar, almost all units in the power generation facilities are fairly old.
None of the coal power plants in Romania are fully compliant with the Industrial Emissions Directive
None of the coal power plants in Romania are fully compliant with the Industrial Emissions Directive, and most of the power plants benefit from derogations for SO2, NOx, and/or PM. This will, however, expire in June 2020. Some operate without an environmental (IPPC) permit, and some hard coal units have emissions 10-15 times more than the allowed threshold for SOx. The average age of coal, gas, hydro, and nuclear units which are larger than 50MW is 39 years: i) 40 years for coal, ii) 47 years for gas (some units previously running on coal), iii) 31 years for hydro and iv) 18.5 years for nuclear.
Romania has one of the lowest rates of emissions per capita in the European Union, revealed the country’s President, Klaus Iohannis, at the UN Climate Change Conference COP26 held in Glasgow in 2021. Romania has reduced greenhouse gas (GHG) emissions by 64 per cent and CO2 emissions per unit of GDP by 77 per cent for the last 30 years. This percentage reduction is more than double the global average. Forty per cent of electricity in Romania comes from renewable sources, but the country is committed to expanding its share.
More than 370,000 prosumers under newly introduced net metering and solar rebate support schemes are expected in Romania by 2033
More than 370,000 prosumers under newly introduced net metering and solar rebate support schemes are expected in Romania by 2033.?The pipeline of solar PV projects under permitting development is over 29,100 MW (29.1 GW) at the beginning of 2024.
The Ministry of Energy in Romania has announced, on 8 February 2024, the relaunch of a competitive call for tender for battery storage projects
The Ministry of Energy in Romania has announced, on 8 February 2024, the relaunch of a competitive call for tender for battery storage projects. The objective of the call is to put into operation a minimum of 240 MW of electricity storage in batteries, which equals 480 MWh, by June 30, 2026. The aim is to contribute to Romania's National Recovery and Resilience Plan (NRRP) objectives. The Ministry's announcement on February 8 stated that the battery energy storage system (BESS) facilities would have a duration of two hours and would be used for the grid integration of renewable energy. The Ministry has issued a technical guide for selection criteria, which includes funding for equipment, installation, and construction of BESS.
Romania will launch its first auction of renewable energy projects under a contract-for-difference (CfD) scheme
Romania will launch its first auction of renewable energy projects under a contract-for-difference (CfD) scheme recently approved by the European Commission (EC). The scheme, with a capped price of €91 per MWh for solar projects and €93 per MWh for wind projects, was approved by the EC in early March 2024. It is anticipated that the European Union's Modernisation Fund will endorse the €3 billion initiative very soon. The CfD scheme will start with two auctions. The first, planned for this year, will allocate 2 GW of capacity (1 GW for onshore wind power and 1 GW for solar power). After that, in 2025, the second auction will allocate up to 3 GW (1.5 GW for onshore wind power and 1.5 GW for solar energy). The CfD mechanism, a key feature of these auctions, offers a stable and secure financial environment for project beneficiaries. It guarantees a fixed electricity price for 15 years, protecting them from market fluctuations. In the event that electricity rates fall below the agreed threshold, recipients are compensated, while any surplus above the threshold is returned to the Romanian authorities, ensuring a balanced and fair system.
The first CfD auction, planned for this year, will allocate 2 GW of capacity (1 GW for onshore wind power and 1 GW for solar power)
The report provides a complete picture of the market situation, dynamics, current issues and prospects. You will find more than 120 pages of valuable information in this unique, in-depth analysis of the Romanian photovoltaic market and will receive an overview of how the military conflict in Ukraine will impact it. This report brings clear and concise insights to help investors in their decision-making process with comprehensive market data. As 2022 and 2023 were challenging years for the photovoltaic industry, the time for making the right decisions during 2024 and the next few years is limited. A fast-changing market environment requires relevant and accurate information. For your convenience, we offer an opportunity for orders with customised report content.?
Reasons to buy this market report are, but are not limited to:
The more information about the solar power market in Romania, including?full contact details of solar project owners and developers,?you may read here:?Romania Solar Photovoltaic (PV) Power Market Outlook 2024÷2033?
To?download the executive summary brochure with sample pages,?please access from here:?Romania Solar Photovoltaic (PV) Power Market Outlook - Sample
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