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Romania Photovoltaic (Solar PV) Market: Outlook 2016÷2025

Romania PV Market: Outlook 2016÷2025 - Single User

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This market report offers an incisive and reliable overview of the photovoltaic (solar PV) sector of the country for the period 2016 ÷ 2025...

Update: June, 2017
Format: 1 file(s) (PDF report) in English language
Author: Renewable Market WatchTM
Pages: 123
Report production №:
RMWIN349201494
Delivery:
24 - 48 hours by e-mail

  • This market report offers an incisive and reliable overview of the photovoltaic sector of the country for the next long term period 2016 ÷ 2025. In view of recent cuts in FIT’s announced in Germany, Spain, France, UK, Czech Republic, Slovakia, Bulgaria and Italy, Romania represents a stable investment environment in South-East Europe with clear rules and green certificates support scheme. Current cumulative installed PV capacity grew up from 29 MW in 2012 to over 1300 MW in 2016. Number of green certificates was reduced in 2014, but Romanian market has good chances to add more cumulative installed PV capacity in the next 2 years.

    The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 120 pages of valuable information in this unique in-depth analysis of the Romanian photovoltaic market. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. As 2015 and 2016 were challenging years for photovoltaic industry, the time for taking right decisions during 2017 and the next few years is limited. Fast changing market environment with, 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:

    • Overview of the Romanian political and economic environment
    • Solar resource potential in Romania
    • Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Romania (IRR, WACC, Payback, NPV, Cash Flow, etc.)
    • Over 55 charts, tables and maps
    • Overview of Romanian photovoltaic market development 1990 ÷ 2025
    • Grid connected photovoltaic installations
    • Future market trends and planned photovoltaic projects for 2016 ÷ 2025
    • Market prices of fully permitted and operational photovoltaic projects
    • Romanian legal and energy regulatory framework for renewable projects
    • Key companies and competitive landscape in photovoltaic sector
    • Review of most relevant financing and supporting incentives
    • SWOT Analysis (detailed in 5 pages)

    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    10
    1.1    Research Methodology    10
    1.2    Limitations    11
    2    EXECUTIVE SUMMARY    12
    2.1    Historical and Current Development Overview of Photovoltaic (Solar PV) Power Market in Romania    12
    2.2    Romania Solar Resource Potential    12
    2.3    Key Stakeholders Affecting Photovoltaic (Solar PV) Power Market Development in Romania    13
    2.4    Market Drivers and Constraints    14
    2.5    Recent and Pending Changes in Renewable Energy Law in Romania    14
    2.6    Market Forecast Summary    15
    3    ROMANIA POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS    17
    3.1    Basic Country Data    17
    3.2    Political Climate and Ruling Party    21
    3.3    GDP and Economic Growth    23
    3.4    Taxes    27
    3.4.1    VAT    27
    3.4.2    Income and Corporate Taxes    28
    4    CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) POWER MARKET    29
    4.1    General Electricity Market information    29
    4.2    Photovoltaics (Solar PV) in Energy Sector    35
    4.3    Single Electricity Market    38
    5    CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) PHOTOVOLTAIC (SOLAR PV) POWER MARKET    41
    5.1    Market Overview    41
    5.2    Cumulative Installed Photovoltaic (Solar PV) Capacity and Revenue    42
    5.3    Annual Installed Photovoltaic (Solar PV) Capacity and Revenue    43
    5.4    Future Development Trends    44
    6    ROMANIA POWER MARKET    45
    6.1    Electricity Transmission and Distribution    45
    6.2    Electricity Consumption and Generation    47
    6.3    Electricity Imports and Exports    48
    6.4    Electricity Prices for Business and Households    50
    6.5    Renewable Energy Sources (RES) Targets    51
    7    ROMANIA PHOTOVOLTAIC (SOLAR PV) POWER MARKET    53
    7.1    Why Invest in Photovoltaic (Solar PV) Power in Romania?    54
    7.2    Romania Solar Resource Potential    56
    7.3    Licensing Period Duration    57
    7.4    Regional Substation Capacities for Solar PV Power Projects in Romania    57
    7.5    Overview of Photovoltaic (Solar PV) Power Market in Romania    57
    7.6    Market Structure Analysis    61
    7.7    Investment Trends and Development Roadmap    61
    7.8    Competitive Environment in Photovoltaic (Solar PV) Power Market    62
    7.9    Profiles of Key Players and Investors in Photovoltaic (Solar PV) Power Market    64
    7.10    Cumulative Installed Photovoltaic (Solar PV) Capacity and Revenue    65
    7.11    Annual Installed Photovoltaic (Solar PV) Capacity and Revenue    67
    7.12    Market Prices for Photovoltaic (Solar PV) Power Projects in Romania in Development, Ready to Build and Operational (Grid Connected) Condition    68
    7.13    Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Romania    68
    7.14    Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Romania    69
    7.15    Key Photovoltaic (Solar PV) Power Projects in Romania Under Development    69
    7.16    Mergers and Acquisitions    74
    8    DRIVERS AND CONSTRAINTS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN ROMANIA. SWOT ANALYSIS    76
    8.1    Market Drivers    76
    8.2    Market Drivers Explained    76
    8.3    Market Constraints    76
    8.4    Market Constraints Explained    77
    8.5    SWOT Analysis    77
    9    FINANCIAL ANALYSIS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN ROMANIA    80
    9.1    Financing Options of Photovoltaic (Solar PV) Power Projects in Romania    80
    9.2    Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Romania (IRR, WACC, Payback, NPV, Cash Flow, ETC.)    85
    10    TECHNOLOGY ANALYSIS    88
    10.1    Photovoltaic (Solar PV) Technology Overview    88
    10.2    Technology Trends    89
    11    EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE    92
    11.1    RES Regulations and EU Directives    92
    11.1.1    Precedent EU regulations    92
    11.1.2    Most recent EU renewable energy policy developments    93
    12    ROMANIA RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK    94
    12.1    Main Laws and Regulations    94
    12.2    Support Schemes    96
    12.3    Green Certificates Trading    97
    12.4    Fulfilling of Annual Mandatory Quota for Green Certificates    97
    12.5    Recent and Pending Changes in Renewable Energy Law in Romania    97
    12.6    Zoning, Planning and Construction Related Authorizations    98
    12.6.1    Zoning Plans Procedure    98
    12.6.2    Building Permit (Construction License) Procedure    99
    12.7    Environmental Related Authorizations    99
    12.7.1    Natura 2000 Network    100
    12.7.2    Clean Development Mechanism (CDM) and Joint Implementation (JI)    101
    12.8    Energy Law Authorizations    102
    12.8.1    Power Generation Licensing    102
    12.8.2    Grid Interconnection    103
    12.8.3    Power Off-Take    103
    12.8.4    Green Certificates (Guarantees of Origin)    104
    12.9    Future Market Pricing Mechanisms    105
    13    KEY STAKEHOLDERS AFFECTING PHOTOVOLTAIC (SOLAR PV) POWER MARKET DEVELOPMENT IN ROMANIA    105
    13.1    Government Stakeholders    105
    13.2    Non-Government Stakeholders    106
    13.3    Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s)    107
    14    CONCLUSIONS AND RECOMMENDATIONS    116
    15    LIST OF ABBREVIATIONS    119
    16    REFERENCES    121
    17    DISCLAIMER    123
    APPENDIX I. SOLAR RESOURCE MAPS OF EUROPE AND ROMANIA    124

  • Map 1: Where is Romania on the World Map    17
    Map 2: Romania Road Network    18
    Map 3: Romania Administrative Regions Map    20
    MAP 4: Romania Historical Regions Map    21
    Map 5: Romania Electricity Grids Network, Transelectrica    46
    Map 6: Solar Resource Map of Romania    55
    Map 7: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Romania, JRC PVGIS 2008    56
    MAP 8: Romania Natura 2000 Areas Map    100
    Map 9: Districts Covered by Electrica S.A.    111
    Map 10: Districts Covered by E.ON    113
    Map 11: Districts Covered by ENEL    114
    Map 12: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Romania    124
    Map 13: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Romania    124
    Map 14: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Europe    125

    Chart 1: Romania Real GDP Growth for the Period 2000 ÷ 2025 (including forecast)    26
    Chart 2: Romania GDP Growth Compared to EU-27 for the Period 2000 ÷ 2025 (including forecast)    27
    Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries     28
    Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and South-East Europe (SEE) in 2016    30
    Chart 5: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries, 2016 (in %), EuroStat    32
    Chart 6: Average Base Load Electricity Price in Selected European Countries (EUR/MWh): 2008 - 2016    33
    Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW), ENTSO-E    34
    Chart 8: Net Power Generation Added Capacities in the EU 28 in 2016 (MW), WindEurope, SolarPower Europe    35
    Chart 9: Age of Power Plants in Europe in 2016; SolarPower Europe    36
    Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2016 (MW), WindEurope    37
    Chart 11: Installed Power Generating Capacity per Year (MW) and Renewable Share (in %) 2000 – 2016, WindEurope    37
    Chart 12: New Installed and Decommissioned Power Generation Capacity in the EU 27 for 2016 (GW), WindEurope    38
    Chart 13: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2025, including forecast    42
    Chart 14: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2025, including forecast    43
    Chart 15: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2025, including forecast    43
    Chart 16: Annual Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2025, including forecast    44
    Chart 17: Romania Power Market Structure    45
    Chart 18: Share of RES electricity from Total Installed Power Capacity in Romania in 2016    47
    Chart 19: Romania Total Annual Electricity Consumption (in TWh) 2000 ÷ 2016    48
    Chart 20: Romania Power Generation Capacity Breakdown by Source (Fuel) Type in 2016    48
    Chart 21: Electricity Imports and Exports in Romania 2000 ÷ 2025 (in TWh) including forecast    49
    Chart 22: Romania Targets for Renewable Energy Sources by 2020 (in %) set by National Renewable Energy Action Plan (NREAP)    52
    Chart 23: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power  Plants in Romania (in MW) 2000 ÷ 2025, including forecast     66
    Chart 24: Cumulative Revenue of Photovoltaic (Solar PV) Power  Plants in Romania (in Millions USD) 2000 ÷ 2025, including forecast    66
    Chart 25: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Romania (in MW) 2000 ÷ 2025, including forecast    67
    Chart 26: Annual Revenue of Photovoltaic (Solar PV) Power Plants in Romania (in Millions USD) 2000 ÷ 2025, including forecast    67
    Chart 27: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Romania    69
    Chart 28: RoSEFF Structure    82
    Chart 29: Cumulative Cash Flows and Break-Even Point of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania    87
    Chart 30: Photovoltaic (Solar PV) System Price Evolution (€/Wp) 1990 ÷ 2016 (BNEF, PV news, EU Commission – DG JRC, Roland Berger)    90
    Chart 31: Market Shares by Sales of the Distribution System Operators in Romania in 2016    108
    Chart 32: Districts Covered by CEZ    115

    Table 1: Electricity Prices for Business and Households    50
    Table 2: Support Schemes for RES Generation in the EU Countries and Romania    54
    Table 4: Market Prices for Photovoltaic (Solar PV) Projects in Romania for 2016 ÷ 2025 in Development, Ready to Build and Operational (Grid Connected) Condition     68
    Table 5: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Romania    69
    Table 6: Database with Major Operational, Under Construction and Planned Photovoltaic (Solar PV) Projects in Romania    71
    Table 7: Key Financial Parameters of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania    86
    Table 8: Key Financial Viability Indicators of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania (IRR, NPV, Payback, Benefit-Cost)    86
    Table 9: Project Costs and Savings (Income) Summary of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania    87
    Table 10: Yearly Cash Flows of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania (Pre-tax, After-tax, Cumulative)    88
    Table 11: Crystalline Module Price Trend in April 2017  91
    Table 12: Green Certificates for Electricity from Renewable Energy Sources (RES) in Romania    104