The maturing photovoltaic markets in Germany, Spain, France and Italy, and recent feed-in tariff cuts in a number of key markets have prompted solar investors to look for new opportunities in South-East European (SEE) nations. Romania is presenting one logical and very interesting investment alternative.

Romania is a very promising emerging market for photovoltaic energy investments among SEE countries, according to the Romania Photovoltaic Market Outlook 2012, issued by Inea Consulting Ltd. With the introduction of support mechanisms in the law in 2008, and the subsequent amendments in 2010, 2011 and 2012, the country’s photovoltaic market is expected to take off in the next few years.

To date, Romania has an installed cumulative photovoltaic capacity of just 2 MWp. However, by the end of this year, this could grow to reach 81 MWp, when taking into account the best case scenario of Inea Consulting’s report. Meanwhile, PV market value is expected to increase from €5.2 million in 2011, to around €129.6 million by the end of 2012.

Currently, six green certificates are awarded for each MWh of electricity produced from solar power plants until January 1, 2014. For the period 2008 to 2025, a green certificate may be traded in 2012 for between €27/MWh and €55/MWh. These values are adjusted yearly by energy regulator ANRE according to the average annual inflation index, which is calculated by Eurostat.