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News & Analysis

  • Renewable Power Generation Costs Reduction Overview in the Recent Study of IRENA

    Renewable Power Generation Costs Reduction Overview in the Recent Study of IRENA small

    /26th June 2020, IRENA, RENEWABLE MARKET WATCHTM/ Installing new renewables increasingly costs less than the cheapest fossil fuels. With or without the health and economic crisis, dirty coal plants were overdue to be consigned to the past. Newly installed renewable power capacity increasingly costs less than the cheapest power generation options based on fossil fuels. The cost data presented in the recent comprehensive study from the International Renewable Energy Agency (IRENA) confirms how decisively the tables have turned. Next year, up to 1 200 gigawatts of existing coal-fired capacity could cost more to operate than new utility-scale solar photovoltaic (PV) costs to install, the report shows. Replacing the costliest 500 gigawatts of coal capacity with solar and wind would cut annual system costs by as much as USD 23 billion per year and reduce annual carbon dioxide (CO2) emissions by around 1.8 gigatonnes, or 5% of last year’s global total. It would also yield a stimulus worth USD 940 billion, or around 1% of global GDP.

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  • Kazakhstan Continues its Ambitious Plans for Renewable Power Capacity Increase and Pursues Clean Energy Leadership Position Among the CIS States

    Kazakhstan Continues its Ambitious Plans for Renewable Power Capacity Increase small

    /25th June 2020, RENEWABLE MARKET WATCHTM/ In the first quarter of 2020, the share of green electricity generated in the total amount of energy generated in Kazakhstan was 1.8%. This is 58% more than for the same period in 2019. Renewable energy development in Kazakhstan is accelerating. For three years, the amount of green energy generated has doubled. In 2017 renewable energy power plants in the country generated 1.1 billion kWh, while in 2019 this figure was 2.4 billion kWh. The state plans in 2020 to bring this figure to 3.15 billion kWh. According to the Kazakhstan Solar Photovoltaic (PV) Power Market Outlook 2020 ÷ 2030, electricity consumption in Kazakhstan will continue to show steady growth. Electricity consumption amid the development of the Kazakh economy shall increase by 2030 to 133.8 billion kWh, and by 2050 - to 162.7 billion kWh. The growing demand for electricity and the decommissioning of old power plants due to physical wear and tear in Kazakhstan will require significant construction of new power capacities: 10-15 GW by 2030 (which corresponds to approximately 60% of installed capacity for 2012) and 35-40 GW by 2050. This creates incredible opportunities for investors in renewable energy projects.

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  • Hungary Solar Photovoltaic (PV) Power Market Outlook 2020 - 2030 with Trends, Investments, Financial Model, Analysis, COVID-19 Impact

    Hungary Solar Photovoltaic PV Market Outlook 2020 2030 small

    /2nd June 2020, RENEWABLE MARKET WATCHTM/ With a land area of 93,028 km2, Hungary is a landlocked country in Central Europe. It measures about 250 km from north to south and 524 km from east to west. It has 2,106 km of boundaries, shared with Austria to the west, Serbia, Croatia and Slovenia to the south and southwest, Romania to the southeast, Ukraine to the northeast, and Slovakia to the north. The country’s landscape is mostly flat. The population was 9.82 million and the current gross domestic product (GDP) was $155.7 billion as of 2018, according to the Hungary Solar Photovoltaic (PV) Power Market Outlook: 2020 ÷ 2030. Under Hungary’s National Energy Strategy up until 2030, Hungary will aim at ensuring the long-term security of energy supplies and increasing the share of renewable sources in its electricity generation mix, particularly solar photovoltaic, but also notes that fossil fuels, mainly natural gas, will be necessary for future generations. Hungary is ranked among top 10 countries by attractiveness for solar photovoltaic (PV) energy investments among CEE & SEE countries by Renewable Market Watch™ in their yearly updated "Attractiveness index for solar photovoltaic (PV) energy investments in CEE & SEE countries in 2020". The country’s main strategy to meet the growing need of power is to reduce the energy dependency by increasing the energy efficiency, increased use of renewable resources and nuclear sources.

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  • New Horizons for the Solar Photovoltaic (PV) Power Market of Romania

    New Horizons for Solar Power Market Romania small

    /18th May 2020, RENEWABLE MARKET WATCHTM/ Romania had the cumulative installed capacity of 1,390 MW (1.39 GW) as of 1st January 2020, according to the recently published report Romania Solar Photovoltaic (PV) Power Market Outlook: 2020 ÷ 2030. The photovoltaic development in Romania was started with small scale photovoltaic installations below 30 KW in 2006. In opposite to the rapid expansion of wind market in Romania, the photovoltaic power capacity remained relatively unchanged by the end of 2011. After that Romania was emerging market for photovoltaic energy investments amongst SEE countries by the end of 2014. The maturing photovoltaic markets in Germany, Spain, France, Czech Republic, Greece, Italy and Bulgaria allowed investors to look for new opportunities among South East European (SEE) nations and Romania was one of the best alternatives. Furthermore, Romania was one of the major destinations for the Chinese solar power plant investors in Central and Eastern Europe between 2012 and 2015. By the end of 2011, the country had approximately 3 MW installed capacity, by the end 2012 this capacity increased fourteen fold to approximately 42 MW, and with a more than thirty-fold explosive growth cumulative installed capacity reached 1,293 MW (1.29 GW) by the end of 2014. However, solar photovoltaic market growth in Romania between 2015 and 2019 was moderate with only 97 MW newly installed capacity in this period.

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