The Romanian renewable energy sector: a potential still untapped
Study | 8 April 2021
This report assesses the development of the Romanian renewable energy sector, identifies the main public policies needed to support this sector and offers recommendations to ensure the sustainable growth of the sector until 2030. The European Green Deal sets a target of 32% renewable energy production and at least a 55% reduction in greenhouse gas emissions by 2030. However, this study finds that Romania lacks coherent strategic and policy frameworks that would support the development of the renewables sector and help Romania contribute to the European Green Deal’s goals.
Although the European Commission has suggested Romania set its 2030 renewables target at 34%, Romania has instead set an unambitious target at 30.7% – up less than 7% from the current share of renewables in energy production. Romania’s failed support schemes for renewable energy have left the country without a system that can facilitate the increase in renewable energy demanded by the 2030 targets. Legal and regulatory frameworks are under constant revision, making market conditions uncertain for investors. Other proposed measures to stimulate renewables development lack strategic coherence. Thus, despite technological progress in the field of renewables, Romania has seen new investments come to a halt in recent years. The report provides recommendations for the Romanian authorities and utilities companies to increase the stability, clarity, and coherence of renewable energy policies and strategies. This will ensure Romania can reach its renewables targets and contribute to European climate goals.
Theme: renewable energy sector | renewables |
Tags: EU funds | Recovery and Resilience Facility | Romania | renewable energy | renewables | the European Green Deal
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