Hungary Solar Photovoltaic (PV) Power Market Outlook 2021÷2030 by Renewable Market Watch with Trends, Forecasts, Investments, Opportunities, Analysis, COVID-19 Impact

 

/LONDON, April 12, 2021, 11:00 BST, by Renewable Market Watch™/

 

This market report offers an incisive and reliable overview of the photovoltaic sector of the country for the next long term period 2020 ÷ 2030 reported the Renewable Market Watch™. 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.

Due to geographical conditions, most of the country’s power demand is met by importing 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 Hungary 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 GWs.

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 for power is to reduce energy dependency by increasing energy efficiency, increasing renewable resources, natural gas, nuclear sources, and connecting to the European power infrastructure.

Hungary is ranked among the top 10 countries by attractiveness for solar photovoltaic (PV) energy investments among CEE & SEE countries by Renewable Market Watch in their yearly updated "Attractiveness index for solar photovoltaic (PV) energy investments in CEE & SEE countries in 2021". The country’s main strategy to meet the growing need for power is to reduce energy dependency by increasing energy efficiency, increasing the use of renewable resources and nuclear sources.

The number of fully permitted and ready to build projects will promptly increase in 2021 and next years. First photovoltaic (PV) power plants have been launched into commercial operation between 2012 and 2020, 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 and, combined with action (tender) procedure, are expected to pave the way for the fast growth of Hungary's solar photovoltaic energy market.

There is an activity registered by Renewable Market Watch™ on the Hungarian solar PV market despite the COVID-19 pandemic.

The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 125 pages of valuable information in this unique in-depth analysis of the Hungarian photovoltaic market will receive an overview of 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 2019 and 2020 were challenging years for the photovoltaic industry, the time for making the right decisions during 2021 and the next few years is limited. A 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:

  • Overview of the Hungarian political and economic environment
  • Solar resource potential in Hungary
  • Financial Model and Analysis of 5 MW Photovoltaic (Solar PV) Power Plant investment in Hungary (IRR, WACC, Payback, NPV, Cash Flow, etc.)
  • Over 55 charts, tables and maps
  • Overview of Hungarian photovoltaic market development 2010 ÷ 2030
  • Grid-connected photovoltaic installations
  • Future market trends and planned photovoltaic projects for 2021 ÷ 2030
  • Market prices of fully permitted and operational photovoltaic projects
  • Hungarian 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 Hungarian solar energy market is expected to be heading toward the expansion phase by 2030. Factors propelling the market growth include concerns regarding the environmental impacts of fossil fuels such as degradation, greenhouse gas emissions (GHG), severe climate change conditions, and others. Also, rapid urbanization and economic growth in the largest Hungarian cities are significant factors driving the solar energy market. The power market (including the solar photovoltaic sector) in Hungary shall be impacted by the COVID-19 post-financial crisis, but we remain optimistic about the future development of solar energy in the country by 2030.

The more information about the solar PV power market in Hungary, including full contact details of solar and wind power project owners and developers you may read here: Hungary Solar Photovoltaic (PV) Market Outlook 2021÷2030 

Тo download the executive summary brochure with sample pages, please access from here: Hungary Solar Photovoltaic (PV) Power Market Outlook - Sample

For a better understanding of benefits from using our reports, you may read here: Benefit List - Reports of Renewable Market Watch 

About Renewable Market Watch™

Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets of the Asia Countries, Balkan countries, Central and Eastern Europe, CIS states (former the Soviet Union), LATAM countries and MENA countries. For more information about Renewable Market Watch™ please visit:
http://renewablemarketwatch.com/about-us

 

 

 

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