Huge Untapped Solar and Wind Resource Potential in the South East Europe

 

/24th September 2018, by IRENA and Renewable Market Watch™/

 

The International Renewable Energy Agency (IRENA) has published a survey about the renewable power generation potential in the South-East Europe states of Albania, Bosnia and Herzegovina, Kosovo, Montenegro, Republic of Moldova, Serbia, the former Yugoslav Republic of Macedonia, Ukraine, Bulgaria, Croatia, Romania and Slovenia. In these countries there is a risk that new coal-fired power stations are being planned without proper discussion about the alternatives. The IRENA report is an important tool that surveys how renewable energy can be used in the region. The report summarises the potential as follows:

The region’s power sector comprises over 118 gigawatts (GW) of installed capacity, out of which renewables accounted for 36 GW in 2015. Hydropower accounts for 75% of this renewable capacity, however, with most of it constructed several decades ago.

South East Europe possesses vast technical renewable energy potential – equal to some 740 GW. The region’s wind energy (532 GW) and solar PV (120 GW) potential is largely untapped, as illustrated by IRENA’s suitability mapping of the region. This analysis revealed that 126.9 GW of the overall renewable energy potential could be implemented in a cost-competitive way today. The additional cost-competitive potential could be even higher – above 290 GW if low-cost capital is available.

Wind energy is the most abundant resource in the region, with an overall technical potential amounting to over 532 GW. This compares to only 4.9 GW installed in the region at the end of 2015, with most of this in Bulgaria, Romania and Ukraine. Over 18% of this potential, or 98 GW, could be additionally deployed today in a cost-effective manner. Out of 120 GW of technical potential, solar PV could provide an additional 5.2 GW of cost-competitive renewable energy capacity. The additional cost-competitive biomass potential in the region amounts to up to 4.7 GW.

As for the projections for 2030 and 2050, with the expected further decline in technology costs, as well as the expected lower cost of capital in the mid- to long-term, the cost-competitive wind and solar PV potential of the region is expected to further grow to more than 650 GW by 2030. This means that almost the entire technical potential of those technologies will be cost-effectively exploitable. Given its size and potential, Ukraine can develop the largest part of this cost-competitive capacity, with an additional 70 GW of solar PV and 320 GW of wind. The high shares of renewables in the power sectors, however, can be also achieved in other parts of SEE.

In the recent years this region has found its place among the important players on the European PV market due to the excellent solar radiation and the fast development and adoption of new technologies in the SEE countries. During the past decade many of the companies, established and doing business in the region, have reached a certain peak in their operations due to the growing share of the renewable energy sources in the global energy mix and the constant efforts of the European Union to meet the high 2020 renewable energy targets.

In South-East Europe there are many companies - new and acknowledged, that are manufacturing solar systems and components. The production in the region includes PV solar cells and modules; PV system technology; PV components, tracking systems, inverters, batteries and energy saving systems; PV industrial engineering, materials and component parts; solar thermal systems, etc.

Looking to the future, the European Union is committed to continuing its regional support to the Central East Europe (CEE) and South East Europe (SEE) countries by assisting them to define and implement sound, result-oriented energy policies or to maintain already established policies. This support will enhance the know-how needed to ensure that reforms have a real impact on the ground, improving the well-being of local communities.

Renewable Market Watch™ published the new report Central East and South East Europe Solar Photovoltaic (PV) Power Market Outlook 2018÷2027. The report provides updated data for Turkey as well as for countries in South East Europe, which face some common challenges as they advance in deploying solar energy and improving energy efficiency.

 

The more information about solar PV power market in the Central East Europe (CEE) and South East Europe (SEE), including full contact details of solar PV project owners and developers you may read here: Central East and South East Europe Solar Photovoltaic (PV) Power Market Outlook 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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