Romania Solar Photovoltaic (PV) Power Market Outlook 2022÷2031 with Trends, Investments, Financial Model, Analysis, Forecast
/LONDON, September 16, 2022, 10:00 BST, RENEWABLE MARKET WATCHTM/ This market report offers an incisive and reliable overview of the country's solar photovoltaic sector for the next long-term period, 2022 ÷ 2031. 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 kilometres (92,046 sq mi), Romania is the 12th largest country and the 7th most populous member state of the European Union, having almost 20 million inhabitants. The current cumulative installed PV capacity grew from 29 MW in 2012 to over 1458 MW in 2021. After positive legal and regulatory changes from 2020 to 2022, the Romanian market has a good chance to add more cumulative installed PV capacity in the next 2 years, especially under net metering and self-consumption commercial and residential installations.
The energy sector is important in Romania’s economy and security policy. At present, we are witnessing a shift from the traditional pillars of the energy sector, such as coal-fired power plants, which were the main producer of electricity and onshore fields being the only provider of oil and gas, to an energy sector where hydro and other renewable energies provide the largest share of electricity and where Romania’s oil and gas deposits could register a threefold increase as a result of the new oil and gas deposits discovered in the Black Sea basin.
The power sector in Romania is almost equally divided between renewable and non-renewable energy producers. Electricity in Romania is primarily generated from thermal power plants (coal, natural gas, and oil), with the balance of production from hydroelectric facilities and a nuclear power plant. Taking into account the approximately 3% per year growth of energy demand, Romania will need total investments in the energy sector between EUR 15 and 30 billion for the period 2019-2030, most of which, according to the government plans, shall be met by increases in nuclear, renewable and large hydro capacity.
For 2019 Romania traditionally had the third lowest energy dependency rate (23.1 %) in the EU, due to natural gas and oil reserves and to an oversized electricity production system; in the last several months, because of a drought that affected the hydropower generation, the country has shifted from electricity exporter to net importer. Romania’s electricity mix is one of the most balanced in the European Union, with coal, hydropower, natural gas, nuclear energy, and wind power having comparable shares of capacity and power generation. Except for wind and solar, almost all units in the systems are fairly old.
None of the coal power plants in Romania is fully compliant with the Industrial Emissions Directive, most of the power plants benefit from derogations for SO2, NOx and/or PM. This will, however, expire in June 2020. Some operate without an environmental (IPPC) permit, and some hard coal units have emissions 10-15 times more than the allowed threshold for SOx. The average age of coal, gas, hydro, and nuclear units which are larger than 50MW is 39 years: i) 40 years for coal, ii) 47 years for gas (some units previously running on coal), iii) 31 years for hydro and iv) 18.5 years for nuclear.
Romania has one of the lowest rates of emissions per capita in the European Union, revealed the country’s President, Klaus Iohannis, at the UN Climate Change Conference COP26 held in Glasgow in 2021. Romania has reduced greenhouse gas (GHG) emissions by 64 per cent and CO2 emissions per unit of GDP by 77 per cent for the last 30 years. This percentage reduction is more than double the global average. Forty per cent of electricity in Romania comes from renewable sources, but the country is committed to expanding its share.
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 Romanian photovoltaic market and will receive an overview of how COVID-19 (Coronavirus) and the military conflict in Ukraine will impact it. This report brings clear and concise insights to help investors in their decision-making process with comprehensive market data. As 2020 and 2021 were challenging years for the photovoltaic industry, the time for making the right decisions during 2022 and the next few years is limited. A fast-changing market environment requires relevant and accurate information. For your convenience, we offer an opportunity for orders with customized report content.
Reasons to buy this market report are, but are not 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 2011 ÷ 2031
- Grid-connected photovoltaic installations
- Future market trends and planned photovoltaic projects for 2022 ÷ 2031
- Market prices of fully permitted and operational photovoltaic projects
- Romanian legal and energy regulatory framework for renewable projects
- Key companies and competitive landscape in the photovoltaic sector
- Review of most relevant financing and supporting incentives
- SWOT Analysis (detailed in 5 pages)
The more information about the solar power market in Romania, including full contact details of solar project owners and developers, you may read here: Romania Solar Photovoltaic (PV) Power Market Outlook 2022÷2031
To download the executive summary brochure with sample pages, please access from here: Romania Solar Photovoltaic (PV) Power Market Outlook 2022÷2031 - Sample
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