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IntelliNews - Hungary Renewable Energy Report

By Bharatbook Subscribe to RSS | April 2nd 2012 | Views:
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The IntelliNews Hungary Renewable Energy Report offers an extensive summary of the renewable energy market in Hungary segmented into wind, solar, biomass, hydropower and geothermal energy. It includes a complete coverage of the latest developments and corporate and industry news, accompanied by thorough statistics and comments. This sector report is ideal to keep you abreast on recent company and industry news. Written by local professionals, it is a unique market and business intelligence analysis, tailored to save time by providing in-depth information, while helping you to make confident and informed business decisions.

Summary

Countries in central and south-eastern Europe are continuing to pursue their strategy to boost the share of energy from renewable sources in overall consumption as a way to diversify their power mixes and reduce dependence on fossil fuels. So far, geographic and weather specifics have been the main factors that determine the sectors that have priority for each individual state.

Hungary aims to raise the share of renewable energy in its energy mix to 14.65% by 2020, reducing its dependence on nuclear power and Russian natural gas. In 2009, some 7.3% of the energy used in Hungary came from renewable resources thanks mainly to biomass that made up some 80% of the country’s renewable energy output. The underdevelopment of other renewable energy sources stems from the fact that there has been a strong opposition to the state subsidising producers for expensive green power. Green electricity production in Hungary at end-2010, however, is projected to nearly triple to 7,790GWh by 2020. http://www.bharatbook.com/market-research-reports/alternative-sources-market-research-report/intellinews-hungary-renewable-energy-report.html

The government plans to introduce new scheme for supporting renewable energy projects that will set feed-in tariffs and guarantee 15-year subsidies. At present, insufficient grid capacity, high connection costs and complicated permitting process represent the main obstacles for green energy development in Hungary. Industry Analysis

Although the lower wind speed in most of Hungary limits the wind energy development prospective, the introduction of feed-in tariff is anticipated to support ongoing projects in the northwest, where weather conditions are suitable. The country is expected to triple its end-2010 installed wind capacity to 900MW in 2020.

Hungary had an installed solar capacity of only 1.6MW at end-2010 due to the current low feed-in tariffs that are almost equal to average electricity prices. The usage of photovoltaic systems for local energy supply is expected to significantly develop, helped by the government.

Since it is one of the less mountainous states in central Europe, Hungary has a limited hydroelectric potential. Its 31 hydropower plants have a combined installed capacity of 55MW. The country plans to build more small plants, raising its overall hydroelectric capacity to 66MW until 2020.

For more information kindly visit :

IntelliNews - Hungary Renewable Energy Report

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Bharat Book Bureau, the leading market research information aggregator provides market research reports, company profiles, country reports, newsletters, and online databases for the past twenty four years to corporate, consulting firms, academic institutions, government departments, agencies etc., globally, including India. Our market research reports help global companies to know different market before starting up business / expanding in different countries across the world.

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