Residential PV market's potential valued at €24 billion in Romania

Alina Oprea
At the national level, there are about 5.6 million houses where photovoltaic systems can be installed, and the market potential is €24 billion. In the context of increasing electricity prices, Romanians are increasingly interested in renewable energy. Suceava, Prahova, Bacău, and Argeș are the countries with the greatest potential for the photovoltaic market in Romania, according to a study carried out by Neomar Consulting and transmitted by the company Romsir, which is the market leader in the segment of household photovoltaic installations.

In the last two years, the number of prosumers has almost tripled. We are talking about 33,098 prosumers in 2022, 170% more than in 2021. The market potential remains huge, given that the degree of adoption at the household level is only around 1% of the potential of eligible homes, the study shows.

It shows that the potential of the residential photovoltaic system market, at the national level, is approximately €24 billion (28 GW).

Nationally, there are approximately 5.6 million homes eligible for photovoltaic systems (70% of those in rural areas and 80% of those in urban areas). Only 32,608 (0.58%) had these systems installed, at the level of 2022.

By county, the largest share of houses with installed photovoltaic systems, out of total eligible houses, is in Ilfov (2.21% penetration percentage, i.e. 3,431 households with solar installations), Timiș (1.24%, 2,151 houses), Harghita (1.19%, 1,181 houses) and Arad (1.02%, 1,456 houses), according to the Neomar Consulting study.

The potential of the photovoltaic system market at the national level, for residential consumption (customers, natural persons, house owners), is however huge: approximately 28 GW in installed capacity, worth approximately €24 billion.

The biggest potential of the photovoltaic market not yet installed is in the counties of Prahova (1,100 MW, €980 million), Suceava (1,000 MW, €902 million), Dolj (988 MW, €840 million), Iași (987 MW, €839 million), Bacău (921 MW, €783 million) and Argeș (933 kW, €793 million), these counties having among the lowest levels of penetration of photovoltaic systems in housing consumption.

At the European level, Romania ranks 15th in the ranking of installed solar electrical capacities (approximately 1.41 GW of the European total).

For comparison, the leaders in this market are Germany (61 GW), Italy (24 GW), and the Netherlands (15 GW).

Among the countries in the vicinity of Romania, Poland holds about 8.5 GW, Greece 4.8 GW, Hungary 3.5 GW, Czech Republic 2.3 GW, Bulgaria 1.38 GW, Slovakia 0.54 GW, Slovenia 0.52 GW and Croatia 0.16 GW.

At the level of energy produced by solar electric capacities, Romania ranks 13th in the EU27. "Although it is in the middle of the ranking, Romania has a huge investment potential in the photovoltaic energy industry thanks to solar radiation superior to that found in Central, Western, and Northern Europe", say the authors of the Neomar Consulting study.

In order to realize this potential, Romania signed an agreement through the PNRR according to which, by 2030, the solar capacities installed in our country should be 3.7 GW. To reach this level, an additional 2.3 GW is required. For this purpose, Romanians can access, in the short and medium term, RON 2 billion (approximately €400 million). The financing will be done through the “Casa Verde” ("Green House") program, which could be implemented in the addition of approximately 450-500 MW, covering over 87,500 homes. In the long term, there is a potential for the installation of photovoltaic systems for a residential market of about 28 GW, the authors of the study also show.

With an experience of 29 years, of which over 15 years in the green energy segment, the Romsir company is the market leader in the residential photovoltaic systems segment in Romania. In 2021, the company had a turnover of €11.5 million and 45 employees.

Against the background of increasing requests for the installation of photovoltaic panels, the company reached a turnover of €21 million and 123 employees. In the first semester of this year, the company reached a turnover of €13 million and over 200 employees. So far, Romsir has installed more than 8,000 commercial and residential PV systems, approximately 8% of the power installed by grid-connected residential prosumers. The top companies with market shares of over 4%, in the segment of residential prosumer customers, are completed Electrogrup SA (with a market share of approximately 5%), P Plus 2002 SRL (4.6%), and Energobit SA (4.5%).

"As far as we are concerned, we have a wealth of experience. We have installed more than 8,000 photovoltaic systems, of which more than 5,000 are financed through the "Casa Verde" program, and we are currently ready with 50 of our own teams to ensure the installation of these systems for household prosumers. And the turnover we reached is a guarantee for our customers that we can develop an assembly capacity that will ensure thousands of installations in the next period", said Claudia Moga-Olaru, economic director of Romsir.

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Green Forum  |  28 February, 2024 at 7:00 AM
Green Forum  |  27 February, 2024 at 8:00 AM