| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Volume (2025) | 5.90 gigawatt |
| Market Volume (2030) | 10.39 gigawatt |
| CAGR (2025 - 2030) | 11.98% |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Romania Solar Energy Market Analysis
The Romania Solar Energy Market size in terms of installed base is expected to grow from 5.90 gigawatt in 2025 to 10.39 gigawatt by 2030, at a CAGR of 11.98% during the forecast period (2025-2030).
- Over the medium term, factors such as supportive government policies and declining solar panel costs are expected to drive the Romania solar energy market during the forecast period.
- On the other hand, the intence competition from other renewable energy sources are expected to restrain the Romanian solar energy market during the forecast period.
- Nevertheless, the government of Romania announced plans to add around 7 GW of new renewable capacity, comprising around 3.7 GW of solar energy, by 2030. This plan is likely to create immense opportunities for Romania's solar energy market in the future.
Romania Solar Energy Market Trends
Supportive Government Policies to Drive the Market
- Romania possesses significant potential for solar energy development. The country's geographical location provides ample sunlight, making it an ideal candidate for solar power projects. The country is located in an area with a good solar potential of 210 sunny days per year and with an annual solar energy flux between 1,000 kWh/m2/year and 1,300 kWh/m2/year.
- Romania has unveiled ambitious plans to boost its installed solar capacity to 8 GW by 2030, a significant leap from the 1.9 GW recorded at the close of 2023. The Romanian government estimates the country's solar technical potential at 19.35 GW (equating to 25.8 TWh), with approximately 18.05 GW (or 24.18 TWh) considered economically viable under minimum-cost scenarios.
- For instance, as reported by the International Renewable Energy Agency, Romania achieved its peak solar installed capacity of 1917 MW in 2023, closely trailing at 1809 MW in 2022. This growth highlights Romania's commitment to expanding its renewable energy sector and reducing its carbon footprint. This ambitious target has driven significant investments and growth in the renewable sector.
- The Romanian government will provide an annual renewable energy subsidy of EUR 125 million through its new Contracts for Difference (CfD) system, aiming for 3.5 GW of new projects by the end of 2024. Legislation to promote Power Purchase Agreements (PPAs) has also been reintroduced. The government supports rooftop solar projects through the Casa Verde Fotovoltaice scheme.
- Under the Casa Verde Fotovoltaice scheme, the government, via the Environment Fund Administration (AFM), offers a subsidy of over EUR 4,000 or up to 90% for photovoltaic installations, with recipients covering the remaining costs. This initiative aims to reduce the financial burden on individuals and businesses investing in photovoltaic technology.
- Moreover, in August 2024, Romania's Ministry of Energy officially approved a Contract for Difference (CfD) scheme for solar and wind projects starting at 5 MW. Initially anticipated to launch last year, the mechanism's debut has now been set: the first auction will take place this year, followed by a second before the close of 2025. A notable update is the reduction of the first solar auction's total capacity from 1000 MW to 500 MW, attributed to the substantial number of solar projects already benefiting from other support schemes.
- Thus, owing to these kinds of supportive government policies are expected to drive the Romanian solar energy market during the forecast period.
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Competition From Other Renewable Energy Sources
- Romania's solar energy market, despite its growth potential and numerous advantages, contends with fierce competition from other renewable sources, chiefly wind energy and hydropower. This rivalry is driven by various factors influencing the market's overall dynamics.
- While other renewable sources have seen stagnant installed capacities in recent years, largely due to insufficient financial backing, the Romanian government has been actively working to enhance the appeal of its renewable energy sector to investors.
- Wind and hydropower installations' cost advantages in terms of capacity factor and levelized cost of electricity (LCOE) have positioned them as direct competitors to solar energy. From 2022 to 2023, the global weighted average installed cost for newly-commissioned onshore wind projects dropped by 13%, going from USD 1,322 per kilowatt (kW) to USD 1,154 per kW.
- As a result, the upfront investment required for wind and hydropower projects can often be lower than that of solar installations, making them attractive options for investors looking to enter the renewable energy sector.
- According to International Renewable Energy Agency (IRENA), the renewable energy installed capacity by sources as of 2023 was 6,666 MW of hydropower, 3,087 MW of wind energy, thus showing the active competition from other renewable energy sources.
- In March 2024, the Ministry of Energy launched two funding calls targeting small, medium, and large enterprises using resources from the EU’s Modernisation Fund. These projects must be completed within three years of signing financing contracts, with a final deadline set for December 31, 2029. This funding aims to accelerate the deployment of renewable energy infrastructure in Romania.
- Several private companies have also focused on hydropower investments. For example, in November 2024, Hidroelectrica, a leading player in Romania’s energy sector, began refurbishment work on the 220 MW Vidraru hydropower project. The EUR 188.4 million (USD 204 million) contract was awarded to a consortium of Electromontaj, Končar Engineering Co. Ltd., and Butan Grup. This project aims to incorporate advanced technologies and innovative solutions, enhancing the efficiency and stability of the National Energy System (SEN). It highlights hydropower’s strategic importance in Romania’s energy mix.
- In conclusion, the competition from other renewable energy sources, particularly wind energy and hydropower, has posed challenges to the growth of the Romania solar energy market. Factors such as lower installation costs, energy reliability, government incentives, and regional resource distribution have all contributed to this competitive landscape.
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Romania Solar Energy Industry Overview
The Romanian solar energy market is semi-consolidated. Some key players include (in no particular order): Sunshine Solar Energy SRL, Danagroup.hu, Amerisolar AP, Enel Green Power SpA, and Photon Energy Group.
Romania Solar Energy Market Leaders
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Sunshine Solar Energy SRL
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Danagroup.hu
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Amerisolar AP
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Enel Green Power SpA
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Photon Energy Group
- *Disclaimer: Major Players sorted in no particular order
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Romania Solar Energy Market News
- September 2024: Photon Energy announced the successful completion and commissioning of a 7.5 MWp photovoltaic power plant in Romania. Situated near Făget in Timiș county, this plant marks a pivotal addition to the company's expanding portfolio of renewable energy assets. With the inauguration of this facility, Photon Energy now operates a total of 100 plants, further solidifying its stature in the solar energy market.
- August 2024: INVL Asset Management, a fund manager based in Lithuania, successfully raised EUR 24.4 million (USD 26.4 million) to construct a 60-MW solar farm in Romania. The financing, evenly divided between the European Bank for Reconstruction and Development (EBRD) and Eiffel Investment Group based in France, was allocated to INVL Renewable Energy Fund I. The solar farm is set to be established in Dolj County, Romania.
Romania Solar Energy Industry Segmentation
Solar energy is one of the renewable energies. It is made by converting the energy that is already in the sun. Once the sunlight passes through the earth's atmosphere, most of it is in the form of visible light and infrared radiation. Solar cell panels are used to convert this energy into electricity.
The Romanian solar energy market is segmented by end-user. By end-user, the market is segmented into residential, commercial & industrial , and utility-scale users. For each segment, market sizing and forecasts have been done based on installed capacity.
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Romania Solar Energy Market Research FAQs
How big is the Romania Solar Energy Market?
The Romania Solar Energy Market size is expected to reach 5.90 gigawatt in 2025 and grow at a CAGR of 11.98% to reach 10.39 gigawatt by 2030.
What is the current Romania Solar Energy Market size?
In 2025, the Romania Solar Energy Market size is expected to reach 5.90 gigawatt.
Who are the key players in Romania Solar Energy Market?
Sunshine Solar Energy SRL, Danagroup.hu, Amerisolar AP, Enel Green Power SpA and Photon Energy Group are the major companies operating in the Romania Solar Energy Market.
What years does this Romania Solar Energy Market cover, and what was the market size in 2024?
In 2024, the Romania Solar Energy Market size was estimated at 5.19 gigawatt. The report covers the Romania Solar Energy Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Romania Solar Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Romania Solar Energy Industry Report
The Romania solar energy market is poised for substantial growth, driven by increasing demand for renewable energy, supportive government regulations, and forthcoming investments in the energy sector. The market is segmented by applications into industrial, commercial, and residential sectors, with the industrial segment expected to expand significantly due to enhanced power demand among industrial units. The residential segment is also anticipated to hold a major market share, driven by the rising demand for rooftop installations. In terms of technology, the market is divided into concentrated solar power systems and photovoltaic systems. The market is further segmented by solar modules, including cadmium telluride, amorphous silicon cells, monocrystalline, and polycrystalline, with monocrystalline and polycrystalline segments. The Romania solar energy market size is set to grow, with significant opportunities arising from the government's plans to install additional renewable capacity, further enhancing the solar energy market share. Solar power in Romania is becoming increasingly vital, and the focus on solar energy in Romania is expected to continue driving the market forward.
The industry report provides a comprehensive market analysis, detailing the market size and market share across various segments. The report pdf includes in-depth industry analysis and industry statistics, presenting a clear industry overview and industry outlook for stakeholders. The market forecast predicts robust market growth, supported by favorable market trends and market segmentation. The industry research highlights the growth rate and industry size, offering valuable insights into market value and market review.
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