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Hungary Wind Power Market Outlook  2024 - 2033

Hungary Wind Power Market Outlook 2024÷2033 - Single User

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Description

This market report offers an incisive and reliable overview of the wind energy sector of the country for the period 2024 - 2033...

Update: January 2024
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: 124
Report production №:
RMWIN3492024102
Delivery:
Up to 24 hours by e-mail
Subscription: In the report price is included a subscription for 1 year period with up to 4 quarterly updates

  • This market report offers an incisive and reliable overview of the country's wind sector for the next long-term period, 2024 ÷ 2033. 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 $204 billion at the end of 2023.

    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, 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 for power is to reduce energy dependency by increasing energy efficiency, increasing renewable resources, natural gas, nuclear sources, and connecting to the European power infrastructure. Hungary is a full member of the Association of Issuing Bodies (AIB) since 2021 and joined the European Energy Certificate System effective on February 1, 2022. Full Membership in the Association of Issuing Bodies (AIB) enables participation of Hungary in the free cross-border trade of guarantees of origin (GOs) of renewable energy producers.

    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 Hungarian wind market will receive an overview of how the COVID-19 (Coronavirus) recovery and the war in Ukraine will impact it. With comprehensive market data, this report brings clear and concise insights to help investors in their decision-making process. As 2022 and 2023 were challenging years for the wind 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 the opportunity for orders with customized report content. Reasons to buy this market report are, but are not limited to:

    • Overview of the Hungarian political and economic environment
    • Wind resource potential in Hungary
    • Financial Model and Analysis of 85 MW Wind Power Plant investment in Hungary (IRR, WACC, Payback, NPV, Cash Flow, etc.)
    • Over 55 charts, tables and maps
    • Overview of Hungarian Wind Market Development 2013 ÷ 2033
    • Grid-connected wind installations
    • Future market trends and planned wind projects for 2024 ÷ 2033
    • Market prices of fully permitted and operational wind projects
    • Hungarian legal and energy regulatory framework for renewable projects
    • Key companies and competitive landscape in the wind sector
    • Review of most relevant financing and supporting incentives
    • SWOT Analysis (detailed in 5 pages)

    On the following pages, you will see the full table of contents of this report. To order this report, click on the button "ADD TO CART". If you have any other questions, please do not hesitate to call us on ++44 203 807 00 79 or write an e-mail to orders@renewablemarketwatch.com

  • TABLE OF CONTENTS 3
    FOREWORD 7
    1 METHODOLOGY AND LIMITATIONS 8
    1.1 Research Methodology 8
    1.2 Forecast Software and Methodology 9
    1.2 Limitations 12
    2 EXECUTIVE SUMMARY 13
    2.1 Historical and Current Development Overview of Wind Power Market in Hungary 13
    2.2 Hungary Wind Resource Potential 13
    2.3 Renewable Energy Sources (RES) Policies and Targets 14
    2.4 Key Stakeholders Affecting Wind Power Market Development in Hungary 14
    2.5 Market Drivers and Constraints 14
    2.6 Recent and Pending Changes in Renewable Energy Law in Hungary 15
    2.7 Market Forecast Summary 15
    3 HUNGARY POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS 16
    3.1 Basic Country Data 16
    3.2 Political Climate and Ruling Party 20
    3.3 GDP and Economic Growth 20
    3.4 Taxes 23
    3.4.1 VAT 24
    3.4.2 Income and Corporate Taxes 24
    3.4.3 Exemption of excise duty 25
    4 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) POWER MARKET 26
    4.1 General Electricity Market information 26
    4.2 Wind Power in the of renewable power capacity Energy Sector 32
    4.3 Single Electricity Market 35
    5 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) WIND POWER MARKET 38
    5.1 Market Overview 38
    5.2 Cumulative Installed Wind Capacity and Revenue 39
    5.3 Annual Installed Wind Capacity 41
    5.4 Future Development Trends 41
    6 HUNGARY POWER MARKET 43
    6.1 Electricity Transmission and Distribution 43
    6.2 Electricity Consumption and Generation 45
    6.3 Electricity Imports and Exports 49
    6.4 Electricity Prices for Business and Households 50
    6.5 Renewable Energy Sources (RES) Targets 51
    7 HUNGARY WIND POWER MARKET 53
    7.1 Why Invest in Wind Power in Hungary? 53
    7.2 Hungary Wind Resource Potential 54
    7.3 Licensing Period Duration 55
    7.4 Regional Substation Capacities for Wind Power Projects in Hungary 56
    7.5 Overview of Wind Power Market in Hungary 57
    7.6 Market Structure Analysis 58
    7.7 Investment Trends and Development Roadmap 59
    7.8 Competitive Environment in Wind Power Market 60
    7.9 Profiles of Key Players and Investors in Wind Power Market 61
    7.10 Cumulative Installed Wind Capacity and Revenue 63
    7.11 Annual Installed Wind Capacity 65
    7.12 Market Prices for Wind Power Projects in Hungary in Development, Ready to Build and Operational (Grid Connected) Condition 65
    7.13 Key Cost Structure Elements of Wind Power Plant in Hungary 66
    7.14 Levelized Cost of Energy (LCOE) for Wind Power in Hungary 67
    7.15 Key Wind Power Projects in Hungary Under Development 68
    7.16 Mergers and Acquisitions 71
    8 DRIVERS AND CONSTRAINTS OF WIND MARKET IN HUNGARY. SWOT ANALYSIS 72
    8.1 Market Drivers 72
    8.2 Market Drivers Explained 72
    8.3 Market Constraints 73
    8.4 Market Constraints Explained 73
    8.5 SWOT Analysis 74
    9 FINANCIAL ANALYSIS OF WIND MARKET IN HUNGARY 78
    9.1 Financing Options of Wind Power Projects in Hungary 78
    9.2 Financial Model and Analysis of 5 MW Wind Power Plant investment in Hungary (IRR, WACC, Payback, NPV, Cash Flow, ETC.) 83
    10 TECHNOLOGY ANALYSIS 88
    10.1 Wind Technology Overview 88
    10.2 Technology Trends 89
    11 EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE 91
    11.1 RES Regulations and EU Directives 91
    11.1.1 Precedent EU regulations 91
    11.1.2 Most recent EU renewable energy policy developments 92
    12 HUNGARY RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK 93
    12.1 Main Laws and Regulations 93
    12.2 Support Schemes 94
    12.3 Green Certificates Trading 94
    12.4 Changes in Renewable Energy Law in Hungary in 2019 and 2020 95
    12.5 Auction (Tender) Procedure for Wind Power Plants in Hungary 98
    12.6 Zoning, Planning and Construction Related Authorizations 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 101
    12.8.1 Power Generation Licensing and Unlicensed Power Generation Below 1 MW 101
    12.8.2 Grid Interconnection 102
    12.8.3 Feed-in Tariff (FIT) 104
    12.8.4 Power Off-Take for Green Certificates 105
    12.8.5 Power Off-Take under Auction (Tender) Scheme 106
    12.8.6 Registers for Green Certificates (Guarantees of Origin) 106
    12.9 Future Market Pricing Mechanisms 107
    13 KEY STAKEHOLDERS AFFECTING WIND POWER MARKET DEVELOPMENT IN HUNGARY 108
    13.1 Government Stakeholders 108
    13.2 Non-Government Stakeholders 112
    13.3 Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s) 113
    14 CONCLUSIONS AND RECOMMENDATIONS 121
    15 LIST OF ABBREVIATIONS 123
    16 REFERENCES 125
    17 DISCLAIMER 127
    APPENDIX I. WIND RESOURCE MAPS OF EUROPE AND HUNGARY 128

  • Map 1: Where is Hungary on the European Map 16
    Map 2: Hungary Road Network 17
    Map 3: Hungary Administrative Regions Map 19
    Map 4: Hungary Electricity Grids Network 44
    Map 5: Hungary Wind Resource Map at 80 m.a.g.l. 54
    MAP 6: Hungary Natura 2000 Areas Map 100
    MAP 7: Global Mean Wind Speed at 80 m.a.g.l. 128
    Map 8: European Wind Atlas 129
    Map 9: Unrestricted technical potential for onshore wind energy in the EU countries up to 2030, based on estimated 80 m.a.g.l average wind speeds (incl. Hungary) 130

    Chart 1: Hungary Real GDP Growth for the Period 2013 ÷ 2033 in % (including forecast) 21
    Chart 2: Hungary GDP Growth Compared to EU-27 for the Period 2013 ÷ 2033 in % (including forecast) 22
    Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries 24
    Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and South-East Europe (SEE) in 2023 27
    Chart 5: Breakdown of Electricity Production by Source Type in the EU-27 in 2023 (in %) 29
    Chart 6: Average Base Load Electricity Price in Selected European Countries (€/MWh): 2013 - 2023; Renewable Market WatchTM 30
    Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2030 (in GW) 31
    Chart 8: New Installed and Decommissioned Power Capacity by Source Type in the EU in 2023 (MW) 32
    Chart 9: Age of Power Plants in Europe in 2023 33
    Chart 10: Share of New Power Generation Capacities Added in the EU-27 in 2022 (MW) 34
    Chart 11: Annual Installed Power Generating Capacity (MW) and Renewable Share (in %) 2013 - 2023 in the EU 34
    Chart 12: Number of Filled Patents for Wind Technologies in CEE & SEE Countries 2013 - 2023, EPO PATSTAT 38
    Chart 13: Cumulative Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2013 ÷ 2033, including forecast 39
    Chart 14: Cumulative Revenue of Wind Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2013 ÷ 2033, including forecast 40
    Chart 15: Annual Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2013 ÷ 2033, including forecast 41
    Chart 16: Hungary Power Market Structure 43
    Chart 17: Share of RES electricity from Total Installed Power Capacity in Hungary in 2023 46
    Chart 18: Hungary Total Annual Electricity Consumption (in TWh) 2013 - 2023 47
    Chart 19: Hungary Power Generation Capacity Breakdown by Source (Fuel) Type in 2023 48
    Chart 20: Electricity Imports and Exports in Hungary 2013 ÷ 2033 (in a million kWh) including forecast 50
    Chart 21: Hungary Targets for Renewable Energy Sources by 2030 (in %) set by National Renewable Energy Action Plan (NREAP) 52
    Chart 22: Chart: Number of Filled Patents for Wind Technologies in Hungary 2013 - 2023, EPO PATSTAT 60
    Chart 23: Cumulative Installed Capacity of Wind Power Plants in Hungary (in MW) 2013 ÷ 2033, including forecast 63
    Chart 24: Cumulative Revenue of Wind Power Plants in Hungary (in Millions EUR) 2013 ÷ 2033, including forecast 64
    Chart 25: Annual Installed Capacity of Wind Power Plants in Hungary (in MW) 2013 ÷ 2033, including forecast 65
    Chart 26: Levelized Cost of Energy (LCOE) for Wind Power and Other Renewable Technologies in Hungary by 2030 (in €) 67
    Chart 27: Hungarian SEFF Structure 79
    Chart 28: Cumulative Cash Flows and Break-Even Point of 50 MW Wind Power Plant Investment in Hungary 86
    Chart 29: Wind Turbine Price Evolution (€/Wp) 2013 ÷ 2023 89

    Table 1: Electricity Prices for Businesses and Households 51
    Table 2: Support Schemes for RES Generation in the EU Countries and Hungary 53
    Table 3: Market Prices for Wind Projects in Hungary for 2024 ÷ 2033 in Development, Ready to Build and Operational (Grid Connected) Condition (2023 Update) 66
    Table 4: Key Cost Structure Elements of Wind Power Plant in Hungary in 2024 67
    Table 5: Database with Major Operational, Under Construction and Planned Wind Projects in Hungary 69
    Table 6: Key Financial Parameters of 85 MW Wind Power Plant Investment in Hungary 84
    Table 7: Key Financial Viability Indicators of 85 MW Wind Power Plant Investment in Hungary (IRR, NPV, Payback, Benefit-Cost) 84
    Table 8: Project Costs and Savings (Income) Summary of 85 MW Wind Power Plant Investment in Hungary 85
    Table 9: Yearly Cash Flows of 85 MW Wind Power Plant Investment in Hungary (Pre-tax, After-tax, Cumulative) 86
    Table 10: Wind Turbine Price Trend in 2024 90
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