Romania Solar Photovoltaic (PV) Power Market Outlook 2019÷2028 - Single User

This market report offers an incisive and reliable overview of the photovoltaic sector of the country for the next long term period 2019 ÷ 2028. Romania is a country located at the crossroads of Central, Eastern, and Southeastern Europe. It borders the Black Sea to the southeast, Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, and Moldova to the east. It has a predominantly temperate-continental climate. With a total area of 238,397 square kilometers (92,046 sq mi), Romania is the 12^th largest country and also the 7^th most populous member state of the European Union, having almost 20 million inhabitants. Current cumulative installed PV capacity grew up from 29 MW in 2012 to over 1350 MW in 2018. 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, especially under net metering and self-consumption commercial and residential installations.

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 2017 and 2018 were challenging years for photovoltaic industry, the time for taking right decisions during 2019 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 2008 ÷ 2028
• Grid connected photovoltaic installations
• Future market trends and planned photovoltaic projects for 2019 ÷ 2028
• 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 (in %) for the Period 2008 ÷ 2028 (including forecast) 20
Chart 2: Romania GDP Growth Compared to EU-28 for the Period 2008 ÷ 2028 (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 2018 27
Chart 5: Breakdown of Electricity Production by Source Type in the EU-28 in 2018 (in %) 29
Chart 6: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries, 2018 (in %) 30
Chart 7: Average Base Load Electricity Price in Selected European Countries (€/MWh): 2009 – 2019; Renewable Market WatchTM 30
Chart 8: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 31
Chart 9: New Installed and Decommissioned Power Capacity by Source Type in the EU in 2018 (MW) 32
Chart 10: Age of Power Plants in Europe in 2018 in MW 33
Chart 11: Share of New Power Generation Capacities Added in the EU 28 in 2018 (MW) 34
Chart 12: Annual Installed Power Generating Capacity (MW) and Renewable Share (in %) 2000 – 2018 in the EU 35
Chart 13: Net Installed and Decommissioned Power Generation Capacity in the EU 28 for 2018 (GW) 36
Chart 14: Number of Filled Patents for Solar PV Technologies in CEE & SEE Countries 2008 – 2018 39
Chart 15: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast 40
Chart 16: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants (in Millions €) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast 41
Chart 17: Annual Installed New Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2008 ÷ 2028, including forecast 42
Chart 18: Romania Power Market Structure 43
Chart 19: Share of RES Electricity (incl. Large Hydro) from Total Installed Power Capacity in Romania in 2018 45
Chart 20: Share of renewables in gross final consumption of electricity 2018 45
Chart 21: Romania Total Annual Electricity Consumption (in TWh) 2009 ÷ 2019 46
Chart 22: Romania Power Generation Capacity Breakdown (in %) by Source (Fuel) Type in 2018 46
Chart 23: Number of Filled Patents for Solar PV Technologies in Romania 2008 – 2018 58
Chart 24: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants in Romania (in MW) 2008 ÷ 2028, including forecast 62
Chart 25: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants in Romania (in Millions €) 2008 ÷ 2028, including forecast 63
Chart 26: Annual New Installed Capacity of Photovoltaic (Solar PV) Power Plants in Romania (in MW) 2008 ÷ 2028, including forecast 64
Chart 27: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power and Other Renewable Technologies in Romania by 2030 66
Chart 28: Cumulative Cash Flows and Break-Even Point of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania 85
Chart 29: Historical and Forecasted Utility Solar PV System Pricing ($/Wdc) 2013 ÷ 2022 87
Chart 30: Market Shares by Sales of the Distribution System Operators in Romania in 2018 125
Chart 31: Districts Covered by CEZ 131

Table 1: Electricity Prices for Business and Households 48
Table 2: Support Schemes for RES Generation in the EU Countries and Romania 50
Table 3: Substations, Overhead Electric Lines and Transformer Units of Romanian TSO (Transelectrica) 54
Table 4: Market Prices for Photovoltaic (Solar PV) Projects in Romania for 2019 ÷ 2028 in Development, Ready to Build and Operational (Grid Connected) Condition (2019 Update) 65
Table 5: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Romania 66
Table 6: Database with Major Operational, Under Construction and Planned Photovoltaic (Solar PV) Projects in Romania 68
Table 7: Key Financial Parameters of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania 83
Table 8: Key Financial Viability Indicators of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania (IRR, NPV, Payback, Benefit-Cost) 83
Table 9: Project Costs and Savings (Income) Summary of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania 84
Table 10: Yearly Cash Flows of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania (Pre-tax, After-tax, Cumulative) 85
Table 11: Crystalline Module Price Trend in 2019 89
Table 12: Green Certificates for Electricity from Renewable Energy Sources (RES) in Romania 115