Romania Solar Photovoltaic (PV) Power Market Outlook 2020÷2030 - Single User

This market report offers an incisive and reliable overview of the photovoltaic sector of the country for the next long term period 2020 ÷ 2030. 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 will receive overview how the COVID-19 (Coronavirus) will impact it. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. As 2018 and 2019 were challenging years for photovoltaic industry, the time for taking right decisions during 2020 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 2010 ÷ 2030
• Grid connected photovoltaic installations
• Future market trends and planned photovoltaic projects for 2020 ÷ 2030
• 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 9
1.1 Research Methodology 9
1.2 Limitations 10
2 EXECUTIVE SUMMARY 11
2.1 Historical and Current Development Overview of Photovoltaic (Solar PV) Power Market in Romania 11
2.2 Romania Solar Resource Potential 11
2.3 Renewable Energy Sources (RES) Policies and Targets 12
2.4 Key Stakeholders Affecting Photovoltaic (Solar PV) Power Market Development in Romania 12
2.5 Market Drivers and Constraints 12
2.6 Recent and Pending Changes in Renewable Energy Law in Romania 13
2.7 Market Forecast Summary 13
3 ROMANIA POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS 14
3.1 Basic Country Data 14
3.2 Political Climate and Ruling Party 19
3.3 GDP and Economic Growth 19
3.4 Taxes 22
3.4.1 VAT 23
3.4.2 Income and Corporate Taxes 23
3.4.3 Exemption of excise duty 24
4 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) POWER MARKET 25
4.1 General Electricity Market information 25
4.2 Photovoltaics (Solar PV) in Energy Sector 31
4.3 Single Electricity Market 34
5 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) PHOTOVOLTAIC (SOLAR PV) POWER MARKET 37
5.1 Market Overview 37
5.2 Cumulative Installed Photovoltaic (Solar PV) Capacity and Revenue 38
5.3 Annual Installed Photovoltaic (Solar PV) Capacity 40
5.4 Future Development Trends 40
6 ROMANIA POWER MARKET 42
6.1 Electricity Transmission and Distribution 42
6.2 Electricity Consumption and Generation 44
6.3 Electricity Imports and Exports 48
6.4 Electricity Prices for Business and Households 49
6.5 Renewable Energy Sources (RES) Targets 50
7 ROMANIA PHOTOVOLTAIC (SOLAR PV) POWER MARKET 52
7.1 Why Invest in Photovoltaic (Solar PV) Power in Romania? 52
7.2 Romania Solar Resource Potential 53
7.3 Licensing Period Duration 54
7.4 Regional Substation Capacities for Solar PV Power Projects in Romania 55
7.5 Overview of Photovoltaic (Solar PV) Power Market in Romania 56
7.6 Market Structure Analysis 57
7.7 Investment Trends and Development Roadmap 58
7.8 Competitive Environment in Photovoltaic (Solar PV) Power Market 59
7.9 Profiles of Key Players and Investors in Photovoltaic (Solar PV) Power Market 60
7.10 Cumulative Installed Photovoltaic (Solar PV) Capacity and Revenue 62
7.11 Annual Installed Photovoltaic (Solar PV) Capacity 64
7.12 Market Prices for Photovoltaic (Solar PV) Power Projects in Romania in Development, Ready to Build and Operational (Grid Connected) Condition 64
7.13 Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Romania 65
7.14 Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Romania 66
7.15 Key Photovoltaic (Solar PV) Power Projects in Romania Under Development 67
7.16 Mergers and Acquisitions 70
8 DRIVERS AND CONSTRAINTS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN ROMANIA. SWOT ANALYSIS 71
8.1 Market Drivers 71
8.2 Market Drivers Explained 71
8.3 Market Constraints 72
8.4 Market Constraints Explained 72
8.5 SWOT Analysis 73
9 FINANCIAL ANALYSIS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN ROMANIA 77
9.1 Financing Options of Photovoltaic (Solar PV) Power Projects in Romania 77
9.2 Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Romania (IRR, WACC, Payback, NPV, Cash Flow, ETC.) 82
10 TECHNOLOGY ANALYSIS 87
10.1 Photovoltaic (Solar PV) Technology Overview 87
10.2 Technology Trends 88
11 EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE 90
11.1 RES Regulations and EU Directives 90
11.1.1 Precedent EU regulations 90
11.1.2 Most recent EU renewable energy policy developments 91
12 ROMANIA RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK 92
12.1 Main Laws and Regulations 92
12.2 Support Schemes 93
12.3 Green Certificates Trading 93
12.4 Changes in Renewable Energy Law in Romania in 2020 94
12.5 Auction (Tender) Procedure for Photovoltaic (Solar PV) Power Plants in Romania 97
12.6 Zoning, Planning and Construction Related Authorizations 98
12.7 Environmental Related Authorizations 98
12.7.1 Natura 2000 Network 99
12.7.2 Clean Development Mechanism (CDM) and Joint Implementation (JI) 100
12.8 Energy Law Authorizations 100
12.8.1 Power Generation Licensing and Unlicensed Power Generation 100
12.8.2 Grid Interconnection 101
12.8.3 Feed-in Tariff (FIT) 103
12.8.4 Power Off-Take for Green Certificates 104
12.8.5 Power Off-Take under Auction (Tender) Scheme 105
12.8.6 Registers for Green Certificates (Guarantees of Origin) 105
12.9 Future Market Pricing Mechanisms 106
13 KEY STAKEHOLDERS AFFECTING PHOTOVOLTAIC (SOLAR PV) POWER MARKET DEVELOPMENT IN ROMANIA 107
13.1 Government Stakeholders 107
13.2 Non-Government Stakeholders 111
13.3 Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s) 112
14 CONCLUSIONS AND RECOMMENDATIONS 120
15 LIST OF ABBREVIATIONS 122
16 REFERENCES 124
17 DISCLAIMER 126
APPENDIX I. SOLAR RESOURCE MAPS OF EUROPE AND ROMANIA 127

Map 1: Where is Romania on the European Map 15
Map 2: Romania Road Network 16
Map 3: Romania Administrative Regions Map 18
Map 4: Romania Electricity Grids Network 43
Map 5: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Romania 53
MAP 6: Romania Natura 2000 Areas Map 99
MAP 7: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Romania 127
Map 8: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Romania 128
Map 9: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Europe 129

Chart 1: Romania Real GDP Growth for the Period 2010 ÷ 2030 in % (including forecast) 20
Chart 2: Romania GDP Growth Compared to EU-27 for the Period 2010 ÷ 2030 in % (including forecast) 21
Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries 23
Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and South-East Europe (SEE) in 2019 26
Chart 5: Breakdown of Electricity Production by Source Type in the EU-28 in 2019 (in %) 28
Chart 6: Average Base Load Electricity Price in Selected European Countries (€/MWh): 2010 – 2020; Renewable Market WatchTM 29
Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 30
Chart 8: New Installed and Decommissioned Power Capacity by Source Type in the EU in 2019 (MW) 31
Chart 9: Age of Power Plants in Europe in 2019 32
Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2019 (MW) 33
Chart 11: Annual Installed Power Generating Capacity (MW) and Renewable Share (in %) 2009 – 2019 in the EU 34
Chart 12: Number of Filled Patents for Solar PV Technologies in CEE & SEE Countries 2009 – 2019 37
Chart 13: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2010 ÷ 2030, including forecast 38
Chart 14: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2010 ÷ 2030, including forecast 39
Chart 15: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2010 ÷ 2030, including forecast 40
Chart 16: Romania Power Market Structure 42
Chart 17: Share of RES electricity from Total Installed Power Capacity in Romania in 2019 45
Chart 18: Romania Total Annual Electricity Consumption (in TWh) 2009 ÷ 2019 46
Chart 19: Romania Power Generation Capacity Breakdown by Source (Fuel) Type in 2019 47
Chart 20: Electricity Imports and Exports in Romania 2010 ÷ 2030 (in million kWh) including forecast 49
Chart 21: Romania Targets for Renewable Energy Sources by 2030 (in %) set by National Renewable Energy Action Plan (NREAP) 51
Chart 22: Chart: Number of Filled Patents for Solar PV Technologies in Romania 2009 – 2019 59
Chart 23: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power Plants in Romania (in MW) 2010 ÷ 2030, including forecast 62
Chart 24: Cumulative Revenue of Photovoltaic (Solar PV) Power Plants in Romania (in Millions EUR) 2010 ÷ 2030, including forecast 63
Chart 25: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Romania (in MW) 2010 ÷ 2030, including forecast 64
Chart 26: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power and Other Renewable Technologies in Romania by 2030 (in €) 66
Chart 27: Romanian SEFF Structure 78
Chart 28: Cumulative Cash Flows and Break-Even Point of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania 85
Chart 29: Photovoltaic (Solar PV) System Price Evolution (€/Wp) 1990 ÷ 2020 88
Chart 30: Market Shares by Sales of the Distribution System Operators (DSOs) in Romania in 2019 112

Table 1: Electricity Prices for Business and Households 50
Table 2: Support Schemes for RES Generation in the EU Countries and Romania 52
Table 3: Market Prices for Photovoltaic (Solar PV) Projects in Romania for 2020 ÷ 2030 in Development, Ready to Build and Operational (Grid Connected) Condition (2020 Update) 65
Table 4: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Romania in 2020 66
Table 5: Database with Major Operational, Under Construction and Planned Photovoltaic (Solar PV) Projects in Romania 68
Table 6: Key Financial Parameters of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania 83
Table 7: Key Financial Viability Indicators of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania (IRR, NPV, Payback, Benefit-Cost) 83
Table 8: Project Costs and Savings (Income) Summary of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania 84
Table 9: Yearly Cash Flows of 5 MW Photovoltaic (Solar PV) Power Plant Investment in Romania (Pre-tax, After-tax, Cumulative) 85
Table 10: Crystalline Module Price Trend in 2020 89