Development Prospects about the Romania Renewable Energy Market

 

/21st February 2019, by Renewable Market Watch™/

 

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 12th largest country and also the 7th most populous member state of the European Union, having almost 20 million inhabitants, reported the Renewable Market Watch™

What is Current Power Market Situation in Romania

Endowed with abundant energy resources and a relatively balanced mix, Romania can hope to achieve energy independence and even become a significant player in the European energy market. Romania is a complete player in the European energy scene with a relatively balanced energy production mix: 31% of natural gas, 15% of oil, 17% of coal (63% of fossil fuels), 24% of renewable energies and 12% nuclear. As a producer of gas and oil, Romania enjoys a relative energy autonomy since it produces locally 78% of the energy it consumes.

The significant share of coal in the Romanian energy mix has brought a lot of attention to alternatives such as natural gas to reduce environmental and health impacts. Currently, replacing coal as an energy source is a priority for Romania’s energy industry. Nuclear resources represent a part of the energy mix, having an important role in the Romanian energy balance. At the moment, Romania has a nuclear power capacity of 1,400 MW via 2 reactors, constituting about 18% of the country’s national power generation. The Romanian Energy Strategy 2018 – 2030 plans for the further development of nuclear power.

Talent in the energy field and affordability of energy for customers have both been identified by Romania’s energy leaders as critical uncertainties. Indeed, the population’s purchasing power is decreasing, especially in rural areas. Russia represents an uncertainty, even with the country’s low dependence of Russian gas resources. The geopolitical situation involving Russia must be taken into account due to Romania’s geographical position.

Renewable Energy in the Electricity Mix

Romania has a total of 40% participation of renewable energies in the total electricity mix, with 16% coming from wind and solar and 24% coming from hydropower. A further increase in the share of renewable energies requires a set of clear regulations on the development of prosumer systems, energy transmission and the support mechanisms for the development of these systems. The support scheme for renewables must be changed to reach the established EU targets.

Wind Energy Market Opportunities

Romania should harness onshore wind to meet growing demand for electricity instead of investing in conventional power, WindEurope's CEO Giles Dickson told the annual meeting of the Romanian Wind Energy Association in Bucharest at the end of October 2018. “With electricity demand predicted to rise in Romania, the country urgently needs to invest in new power capacity,” Dickson said, adding that onshore wind is now the cheapest form of new power in Romania and many parts of Europe.

Solar Energy Market Opportunities

A solar rooftop rebate scheme started to accept applications in Romania from 24 January 2019 to 1 March 2019. Households and businesses can submit applications for rebates that could cover up to 90% of the cost of solar PV modules and the other related solar equipment. The grant cannot not exceed €4,300 ($4,830). Through this scheme, the Romanian government targets to support the deployment of solar PV systems with more than 3 kW power capacity that are installed under net metering rules.

Future Renewable Energy Market Trends in Romania

Limiting the environmental pollution in Romania by reducing the amount of CO2 in the atmosphere in accordance with the climate framework involves the development of a clear plan for the replacement of coal-based power plants in the country mainly with renewable energy power generation.

Romanian energy leaders consider that the Romanian energy system can provide for the country’s energy needs in the coming years. However, as the country decarbonises its energy mix, the focus will be on developing nuclear power plants, using natural gas as a transition fuel and working on energy efficiency improvements with a special focus on the insulation of modern buildings. Supporting decentralised renewable generation through the growth of prosumers, net meterign and self-consumption and developing appropriate access regulations to the public energy system can further increase the share of renewable energy sources in the country’s energy mix.

 

The more information about solar PV power and wind power market in Romania, including full contact details of solar and wind power project owners and developers you may read here: Romania Solar Photovoltaic (PV) and Wind Power Market Outlooks 2018÷2027 

For better understanding about 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 about 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 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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