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Good Prospects For Green Energy In Romania

Author

Listed:
  • Mariana Papatulica

    (Institute for World Economy, Romanian Academy, Bucharest, Romania)

  • Petre Prisecaru

    (Institute for World Economy, Romanian Academy, Bucharest, Romania)

Abstract

EU has to attain the strategic objectives for 2020: 20% of energy from renewable sources, cutting the emissions of greenhouse gases by 20% and diminishing the dependence on imported fuels, that is why in the last years European Commission has decided that MS should increase the flexibility of programs to promote green energy and cut subsidies. Although wind and solar energy have become more competitive in terms of cost in the last two decades, many production technologies need to be improved, also storage and transport capacities. Romania has an important potential of renewable energy resources and has introduced a functional mechanism for supporting their development based on a system of mandatory quotas for electricity, combined with trading a number of green certificates, but all the costs are transferred to the consumers.This system may carry an overcompensation for the investors and also an excessive burden on the consumers. Most investments were made in wind and hydro, the fewest in solar and biomass. Market liberalization may create more competition and stimulate the investments in different renewable resources.

Suggested Citation

  • Mariana Papatulica & Petre Prisecaru, 2013. "Good Prospects For Green Energy In Romania," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 1(1), pages 117-125, May.
    • Handle: RePEc:ntu:ntugeo:vol1-iss1-13-117
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    More about this item

    Keywords

    green; renewable; resource; certificate; wind; solar; biomass; hydro; market; liberalization; competition;
    All these keywords.

    JEL classification:

    • D18 - Microeconomics - - Household Behavior - - - Consumer Protection
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

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