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Hungary Solar Photovoltaic (PV) Power Market Outlook 2017 - 2026

Hungary Solar Photovoltaic (PV) Power Market: Outlook 2017÷2026 - Single User

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Photovoltaic (Solar PV) Power Market in Hungary is expected to grow fast in the period 2017 - 2026. New feed-in tariffs for solar PV power entered into force in 2017 ...

Update: May, 2018
Format: 1 file(s) (PDF report) in English language and 1 file(s) in MS Excel with data from charts and tables
Author: Renewable Market WatchTM
Pages: 126
Report production №:
RMWIN34920181264
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Subscription: In the report price is included subscription for 1 year period with 4 qurterly updates

  • 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 $124.34 billion as of 2016.

    Hungary solar photovoltaic (PV) power market value, which was USD XXX million in 2017, is expected to grow to USD XXX million in 2018, at a CAGR of XXX percent. Due to geographical conditions, most of the country’s power demand is met by importing the energy from neighboring countries. The majority of the power is imported from Slovakia, Austria, and Ukraine, and the main export countries are Croatia and Serbia. Hungary has good potential for the use of solar energy, as the number of sunny hours in Hungary is between 1,950-2,150 per year at an intensity of 1,200 kWh/m2 per year. It is estimated the theoretical potential could amount to several tens of thousands of MW.

    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. Developing further nuclear energy capabilities was also outlined as an option to cover demand. The National Energy Strategy stipulates that the construction of new power plants will be required to replace those that will become obsolete in the future. 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, natural gas, nuclear sources, and connecting to the European power infrastructure.

    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 2017". 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.

    Current cumulative installed photovoltaic (PV) power capacity in the country is XXX MW at the end of 2017 and number of fully permitted and ready to build projects will promptly increase in 2018 and next years. First photovoltaic (PV) power plants have been launched into commercial operation between 2012 and 2017, whilst pipeline of over 2,000 MW (2 GW) solar photovoltaic (PV) power projects are progressing in different stages of permitting process for grid connection by 2020. New feed-in tariffs for solar PV power entered into force in in Hungary in the beginning of 2017 combined and is expected to pave the way for fast further growth of solar photovoltaic energy market in Hungary.

    The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 125 pages of valuable information in this unique in-depth analysis of the Hungary photovoltaic (PV) power market. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. As 2016 and 2017 were challenging years for world photovoltaic (PV) energy industry, the time for taking right decisions during 2018 and the next few years is limited. Fast changing market environment requires relevant and accurate information. For your convenience we offer opportunity for orders with customized report content Reasons to buy this market report are, but no limited to:

    • Solar resource potential in Hungary
    • Historical market data provided from 2000 to 2017 and forecasts until 2026
    • Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Hungary (IRR, WACC, Payback, NPV, Cash Flow, etc.)
    • Over 45 charts, tables and maps
    • Overview of Hungary photovoltaic (solar PV) market development 2000 ÷ 2026
    • Development scenario of Hungary photovoltaic (solar PV) sector until 2026
    • Major active and upcoming solar PV power plants in Hungary
    • Current market prices of fully permitted and operational solar photovoltaic projects
    • Attractiveness index for solar photovoltaic investments in Hungary and CEE & SEE countries
    • SWOT Analysis (detailed in 5 pages)
    • Overview of Hungary legal and regulatory framework for RES generation
    • Review of most relevant financing and supporting incentives
    • Project developers, EPC providers and Consultants in Hungary
    • Key organizations and stakeholders affecting development of the solar photovoltaic (PV) sector in Hungary
    • Investment potential and opportunities

    At next pages you will see the full table of content of this report. To order this report just click on the button "ADD TO CART". If you have any other questions please do not hesitate to call us on ++44 203 60 80 138 or write an e-mail to orders@renewablemarketwatch.com

  • TABLE OF CONTENTS 3
    FOREWORD 8
    1 METHODOLOGY AND LIMITATIONS 9
    1.1 Research Methodology 9
    1.2 Limitations 10
    2 EXECUTIVE SUMMARY 11
    2.1 Historical and Current Development Overview of Photovoltaic (Solar PV) Power Market in Hungary 11
    2.2 Hungary Solar Resource Potential 12
    2.3 Key Stakeholders Affecting Photovoltaic (Solar PV) Power Market Development in Hungary 12
    2.4 Market Drivers and Constraints 13
    2.5 Recent and Pending Changes in Renewable Energy Law in Hungary 13
    2.6 Market Forecast Summary 14
    3 HUNGARY POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS 15
    3.1 Basic Country Data 15
    3.2 Political Climate and Ruling Party 19
    3.3 GDP and Economic Growth 19
    3.4 Taxes 22
    3.4.1 VAT 22
    3.4.2 Income and Corporate Taxes 23
    4 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) POWER MARKET 24
    4.1 General Electricity Market information 24
    4.2 Photovoltaics (Solar PV) in Energy Sector 30
    4.3 Single Electricity Market 34
    5 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) PHOTOVOLTAIC (SOLAR PV) POWER MARKET 37
    5.1 Market Overview 37
    5.2 Cumulative Installed Photovoltaic (Solar PV) Capacity and Revenue 38
    5.3 Annual Installed New Photovoltaic (Solar PV) Capacity 40
    5.4 Future Development Trends 40
    6 HUNGARY POWER MARKET 41
    6.1 Electricity Transmission and Distribution 41
    6.2 Electricity Consumption and Generation 43
    6.3 Electricity Imports and Exports 45
    6.4 Electricity Prices for Business and Households 45
    6.5 Renewable Energy Sources (RES) Targets 46
    7 HUNGARY PHOTOVOLTAIC (SOLAR PV) POWER MARKET 47
    7.1 Why Invest in Photovoltaic (Solar PV) Power in Hungary? 47
    7.2 Hungary Solar Resource Potential 49
    7.3 Licensing Period Duration 50
    7.4 Regional Substation Capacities for Solar PV Power Projects in Hungary 50
    7.5 Overview of Photovoltaic (Solar PV) Power Market in Hungary 51
    7.6 Market Structure Analysis 53
    7.7 Investment Trends and Development Roadmap 53
    7.8 Competitive Environment in Photovoltaic (Solar PV) Power Market 54
    7.9 Profiles of Key Players and Investors in Photovoltaic (Solar PV) Power Market 54
    7.10 Cumulative Installed Photovoltaic (Solar PV) Capacity and Revenue 57
    7.11 Annual New Installed Photovoltaic (Solar PV) Capacity 59
    7.12 Market Prices for Photovoltaic (Solar PV) Power Projects in Hungary in Development, Ready to Build and Operational (Grid Connected) Condition 59
    7.13 Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Hungary 60
    7.14 Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Hungary 61
    7.15 Key Photovoltaic (Solar PV) Power Projects in Hungary 62
    7.16 Mergers and Acquisitions 65
    8 DRIVERS AND CONSTRAINTS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN HUNGARY. SWOT ANALYSIS 67
    8.1 Market Drivers 67
    8.2 Market Drivers Explained 67
    8.3 Market Constraints 68
    8.4 Market Constraints Explained 68
    8.5 SWOT Analysis 69
    9 FINANCIAL ANALYSIS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN HUNGARY 72
    9.1 Financing Options of Photovoltaic (Solar PV) Power Projects in Hungary 72
    9.2 Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Hungary (IRR, Discount rate, Payback, NPV, Cash Flow, ETC.) 76
    10 TECHNOLOGY ANALYSIS 80
    10.1 Photovoltaic (Solar PV) Technology Overview 80
    10.2 Technology Trends 81
    11 EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE 84
    11.1 RES Regulations and EU Directives 84
    11.1.1 Precedent EU regulations 84
    11.2 Renewable energy mandatory targets for CEE & SEE countries set out by the EU 85
    11.2.1 Interim targets set out by the EU 85
    11.2.2 National support schemes flexibility allowed by the EU and progress reporting 86
    11.2.3 Energy Community (EC) Treaty 87
    11.3 EU 2030 framework for climate and energy policies 88
    11.3.1 Targets 91
    11.3.2 Coherence of policy instruments 93
    11.3.3 Fostering the competitiveness of the EU economy 94
    12 HUNGARY RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK 96
    12.1 Main Laws and Regulations 96
    12.2 National Energy Strategy 2030 98
    12.3 Zoning, Planning and Construction Related Authorizations 98
    12.3.1 Zoning Plans Procedure 98
    12.3.2 Building Permit (Construction License) Procedure 99
    12.4 Environmental Related Authorizations 99
    12.4.1 Natura 2000 Network 99
    12.4.2 Clean Development Mechanism (CDM) and Joint Implementation (JI) 101
    12.5 Energy Law Authorizations 101
    12.5.1 Power Generation Licensing 101
    12.5.2 Grid Interconnection 102
    12.5.3 Power Off-Take 103
    12.5.4 Green Premium (Premium Tariff) 104
    12.5.5 Feed-in Tariff 104
    12.5.6 Net-Metering 105
    12.5.7 Green Certificates (Guarantees of Origin) 106
    12.6 Changes in Hungarian Renewable Energy Law from 2016 and 2017 107
    12.6.1 New Renewable Energy Support Scheme (System) - METAR 107
    12.7 Future Market Pricing Mechanisms 107
    13 KEY STAKEHOLDERS AFFECTING PHOTOVOLTAIC (SOLAR PV) POWER MARKET DEVELOPMENT IN HUNGARY 108
    13.1 Government Stakeholders 108
    13.2 Non-Government Stakeholders 109
    13.3 Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s) 110
    14 CONCLUSIONS AND RECOMMENDATIONS 115
    15 LIST OF ABBREVIATIONS 118
    16 REFERENCES 120
    17 DISCLAIMER 122
    APPENDIX I. SOLAR RESOURCE MAPS OF EUROPE AND HUNGARY 123
    18 APPENDIX II. CALCULATIONS DESCRIPTION TO FINANCIAL MODEL 126

  • Map 1: Where is Hungary on the World Map 15
    Map 2: Hungary Road Network 16
    Map 3: Hungary Administrative Regions Map 18
    Map 4: Hungary Electricity Grids Network 42
    Map 5: Solar Resource Map of Hungary 48
    Map 6: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Hungary 49
    MAP 7: Hungary Natura 2000 Areas Map 100
    MAP 8: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Hungary 123
    Map 9: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Hungary 124
    Map 10: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Europe 125

    Chart 1: Hungary Real GDP Growth (in %) for the Period 2000 ÷ 2026 (including forecast) 19
    Chart 2: Hungary GDP Growth Compared to EU-28 for the Period 2002 ÷ 2026 (including forecast) 21
    Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries 23
    Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and South-East Europe (SEE) in 2017 25
    Chart 5: Breakdown of Electricity Production by Source Type in the EU-28 in 2017 (in %) 27
    Chart 6: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries, 2017 (in %) 28
    Chart 7: Average Base Load Electricity Price in Selected European Countries (€/MWh): 2008 – 2017 28
    Chart 8: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 29
    Chart 9: New Installed and Decommissioned Power Capacity by Source Type in the EU in 2017 (MW) 30
    Chart 10: Age of Power Plants in Europe in 2017 in MW 31
    Chart 11: Share of New Power Generation Capacities Added in the EU 28 in 2017 (MW) 32
    Chart 12: Annual Installed Power Generating Capacity (MW) and Renewable Share (in %) 2000 – 2016 in the EU 33
    Chart 13: Net Installed and Decommissioned Power Generation Capacity in the EU 28 for 2017 (GW) 34
    Chart 14: Number of Filled Patents for Solar PV Technologies in CEE & SEE Countries 2007 – 2017 37
    Chart 15: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2026, including forecast 38
    Chart 16: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants (in Millions €) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2026, including forecast 39
    Chart 17: Annual Installed New Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2026, including forecast 40
    Chart 18: Hungary Power Market Structure 41
    Chart 19: Share of RES Electricity (incl. Large Hydro) from Total Installed Power Capacity in Hungary in 2017 43
    Chart 20: Hungary Total Annual Electricity Consumption (in TWh) 2000 ÷ 2017 44
    Chart 21: Hungary Power Generation Capacity Breakdown (in %) by Source (Fuel) Type in 2017 44
    Chart 22: Number of Filled Patents for Solar PV Technologies in Hungary 2007– 2017 53
    Chart 23: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants in Hungary (in MW) 2000 ÷ 2026, including forecast 57
    Chart 24: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants in Hungary (in Millions €) 2000 ÷ 2026, including forecast 58
    Chart 25: Annual New Installed Capacity of Photovoltaic (Solar PV) Power Plants in Hungary (in MW) 2000 ÷ 2026, including forecast 59
    Chart 26: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power and Other Renewable Technologies in Hungary 61
    Chart 27: Cumulative Cash Flows and Break-Even Point of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Hungary 79
    Chart 28: Historical and Forecasted Utility Solar PV System Pricing ($/Wdc) 2013 ÷ 2022 81
    Chart 29: Market Shares by Sales of the Distribution System Operators in Hungary in 2017 110

    Table 1: Electricity Prices for Business and Households 46
    Table 2: Support Schemes for RES Generation in the EU Countries and Hungary 47
    Table 3: Substations in Hungary 51
    Table 4: Market Prices for Photovoltaic (Solar PV) Projects in Hungary for 2017 ÷ 2026 in Development, Ready to Build and Operational (Grid Connected) Condition (2018 Update) 60
    Table 5: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Hungary 2017 61
    Table 6: Database with Major Operational, Under Construction and Planned Photovoltaic (Solar PV) Projects in Hungary 63
    Table 7: Key Financial Parameters of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Hungary 77
    Table 8: Key Financial Viability Indicators of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Hungary (IRR, NPV, Payback, Benefit-Cost) 78
    Table 9: Project Costs and Savings (Income) Summary of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Hungary 78
    Table 10: Yearly Cash Flows of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Hungary (Pre-tax, After-tax, Cumulative) 79
    Table 11: Crystalline Module Price Trend in 2017 83
    Table 12: Green Premium (Premium Tariff) Support Scheme for Solar PV in Hungary 104
    Table 13: Feed-in-tariffs for Solar PV in Hungary 105
    Table 14: Net Metering Support Scheme for Solar PV in Hungary 106

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