• Hungary Renewable Energy Transition Presents New Excellent Opportunities for Investors and Developers in Solar Photovoltaic (PV) and Wind Power Projects

    Hungary Solar Photovolaic and Wind Power Market Opportunities 2021 2030 small

    /LONDON, September 29, 2021, 10:30 BST, RENEWABLE MARKET WATCHTM/ The country’s primary strategy to meet the growing need for power includes reducing energy dependence by increasing energy efficiency, renewable resources, natural gas, nuclear sources and connecting to the European power infrastructure. The country imports nowadays approximately 30% of its power (the main import countries are Slovakia, Austria, and Ukraine, while the main export countries are Croatia and Serbia). Hungary is ranked among the top 10 countries by attractiveness for solar photovoltaic (PV) energy by the Renewable Market Watch in their yearly updated "Attractiveness index for solar photovoltaic (PV) energy investments in Central-East Europe (CEE) and South-East Europe (SEE) countries in 2021". Between 2015 and 2020, cumulative installed solar power capacity in Hungary registered an impressive 11-fold increase. In June 2020, Hungary adopted a new law making the net-zero emission target by 2050 a binding obligation. This law is part of a broader change in the country’s energy and climate policies.

  • 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 energy efficiency, increased use of renewable resources and nuclear sources.

  • Hungary to Increase Solar Photovoltaic (PV) Capacity

    New Hope for Solar Market In Poland Small

    /17th January 2018, RENEWABLE MARKET WATCHTM/ The Hungarian Government is willing to establish a sustainable energy economy in all aspects, where beside environmental and social sustainability, cost-effectiveness also prevails. The expansion of renewable energy systems can help to decentralize our power supply system, and it opens up new directions of development such as a smart grid system. Hungary imports nowadays approximately 30% of its power. In the meantime, 50% of the country’s power is generated from a single nuclear plant (Paks Nuclear Power Plant). János Lázár, the minister heading the Prime Minister’s Office announced in the middle of December 2017, the government’s plans to minimize Hungary’s energy imports in the next 10-20 years. He said Hungary should cover one half of the country’s total demand from the upgraded Paks Nuclear Power Plant, and the other half from solar photovoltaic (PV) power plants.

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