Hungary Solar Photovoltaic (PV) Power Market Outlook 2020 - 2030 with Trends, Investments, Financial Model, Analysis, COVID-19 Impact
/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.
Hungary solar photovoltaic (PV) power market value, which was USD XXX million in 2019, is expected to grow to USD XXX million in 2020, at a CAGR of XXX percent. Due to geographical conditions, most of the country’s power demand is met by importing the energy from neighbouring countries. The majority of the power is imported from Slovakia, Austria, and Ukraine, and the main export countries are Croatia and Serbia. Hungary has good potential for the use of solar energy, as the number of sunny hours in the country is between 1,950-2,150 per year at an intensity of 1,200 kWh/m2 per year. It is estimated the theoretical potential could amount to several tens of thousands of MW.
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. 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 of power is to reduce the energy dependency by increasing the energy efficiency, increased use of renewable resources, natural gas, nuclear sources, and connecting to the European power infrastructure.
Hungary is ranked among top 10 countries by attractiveness for solar photovoltaic (PV) energy investments among CEE & SEE countries by the 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.
Current cumulative installed photovoltaic (PV) power capacity in the country is XXX MW at the end of 2019. The number of fully permitted and ready to build projects will promptly increase in 2020 and next years. First photovoltaic (PV) power plants have been launched into commercial operation between 2012 and 2017, whilst pipeline of over 2,000 MW (2 GW) solar photovoltaic (PV) power projects are progressing in different stages of permitting process for grid connection by 2022. New feed-in tariffs for solar PV power entered into force in Hungary at the beginning of 2017 combined with auction (tender) scheme and is expected to pave the way for fast further growth of solar photovoltaic energy market in Hungary.
In our recent report Hungary Solar Photovoltaic (PV) Power Market Outlook: 2020 ÷ 2030, we have included information about the largest solar projects in Hungary that are and would play a key role in expanding the solar power market in the country.
The report provides a complete picture of the market situation, dynamics, current issues and prospects. You will find more than 125 pages of valuable information in this unique, in-depth analysis of the Hungary photovoltaic (PV) power market will receive an overview of how the COVID-19 (Coronavirus) will impact it. This report brings clear and concise insights to help investors in their decision-making process with comprehensive market data. As 2018 and 2019 were challenging years for world photovoltaic (PV) energy industry, the time for making the right decisions during 2019 and the next few years is limited. The 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 not limited to:
- Solar resource potential in Hungary
- Historical market data provided from 2009 to 2019 and forecasts until 2030
- Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Hungary (IRR, WACC, Payback, NPV, Cash Flow, etc.)
- Over 45 charts, tables and maps
- Overview of Hungary photovoltaic (solar PV) market development 2010 ÷ 2030
- Development scenario of Hungary photovoltaic (solar PV) sector until 2030
- Major active and upcoming solar PV power plants in Hungary
- Current market prices of fully permitted and operational solar photovoltaic projects
- Attractiveness index for solar photovoltaic investments in Hungary and the CEE & SEE countries
- SWOT Analysis (detailed in 5 pages)
- Overview of Hungary legal and regulatory framework for RES generation
- Review of most relevant financing and supporting incentives
- Project developers, EPC providers and Consultants in Hungary
- Key organizations and stakeholders affecting the development of the solar photovoltaic (PV) sector in Hungary
- Investment potential and opportunities
The more information about the solar power market in Hungary including full contact details of solar power project owners and developers you may read here: Hungary Solar Photovoltaic (PV) Power Market Outlook: 2020 ÷ 2030
To download an executive summary brochure with sample pages, please access from here: Hungary Solar Photovoltaic (PV) Power Market Outlook: 2020 ÷ 2030 - Sample
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