This market report offers an incisive and reliable overview of the photovoltaic (solar PV) sector of the country for the period 2017 ÷ 2026...
Update: April, 2018; NOTE: We have a new version of this report for the 2024 - 2033 period. Please review it here: https://renewablemarketwatch.com/country-reports/europe/romania
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: 123
Report production №: RMWIN349201794
Delivery: 24 - 48 hours by e-mail
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This market report offers an incisive and reliable overview of the photovoltaic sector of the country for the next long term period 2017 ÷ 2026. 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 1350 MW in 2017. 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 2016 and 2017 were challenging years for photovoltaic industry, the time for taking right decisions during 2018 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 2000 ÷ 2026
- Grid connected photovoltaic installations
- Future market trends and planned photovoltaic projects for 2017 ÷ 2026
- 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 46
Map 6: Solar Resource Map of Romania 55
Map 7: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Romania 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 ÷ 2026 (including forecast) 26
Chart 2: Romania GDP Growth Compared to EU-27 for the Period 2000 ÷ 2026 (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 2017 30
Chart 5: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries, 2017 (in %) 32
Chart 6: Average Base Load Electricity Price in Selected European Countries (EUR/MWh): 2008 - 2017 33
Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 34
Chart 8: Net Power Generation Added Capacities in the EU 28 in 2017 (MW) 35
Chart 9: Age of Power Plants in Europe in 2017 36
Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2017 (MW) 37
Chart 11: Installed Power Generating Capacity per Year (MW) and Renewable Share (in %) 2000 – 2017 37
Chart 12: New Installed and Decommissioned Power Generation Capacity in the EU 27 for 2017 (GW) 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 ÷ 2026, 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 ÷ 2026, 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 ÷ 2026, 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 ÷ 2026, including forecast 44
Chart 17: Romania Power Market Structure 45
Chart 18: Share of RES electricity from Total Installed Power Capacity in Romania in 2017 47
Chart 19: Romania Total Annual Electricity Consumption (in TWh) 2000 ÷ 2017 48
Chart 20: Romania Power Generation Capacity Breakdown by Source (Fuel) Type in 2017 48
Chart 21: Electricity Imports and Exports in Romania 2000 ÷ 2027 (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 ÷ 2027, including forecast 66
Chart 24: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants in Romania (in Millions USD) 2000 ÷ 2027, including forecast 66
Chart 25: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Romania (in MW) 2000 ÷ 2026, including forecast 67
Chart 26: Annual Revenue of Photovoltaic (Solar PV) Power Plants in Romania (in Millions USD) 2000 ÷ 2026, 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 ÷ 2017 90
Chart 31: Market Shares by Sales of the Distribution System Operators in Romania in 2017 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 2017 ÷ 2026 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 2017 91
Table 12: Green Certificates for Electricity from Renewable Energy Sources (RES) in Romania 104