Romanian Companies Invest More in Solar Energy

The International Energy Agency predicts that in the first half of 2025, solar power generation will surpass coal power, and China will continue to dominate the production of solar panels and equipment.

The demand for solar systems has recently increased significantly within the broader category of renewable sources due to the high energy cost. The average efficiency of today’s inexpensive solar panels is roughly 20%, while some models are more efficient than 22%.

Regarding Romania’s situation on solar energy, companies like OMV Petrom and Complexul Energetic Oltenia announced in October investments of EUR 400 million in photovoltaic energy production in Romania. Although a less developed option in Romania, exploiting the solar source for energy is becoming an increasingly popular solution today, considering the increase in energy prices.

Moreover, renewable energy ideas and projects are encouraged in Romania. Currently, Prime Batteries Technology, a storage solution provider that promotes renewable energy, received considerable investment from the European conglomerate EIT InnoEnergy, co-founded in 2008 by the European Union.

However, the relationship between the cost and total energy production will be important for the operators. The efficiency level is calculated by considering the project lifetime, the panels and another equipment cost, and the maintenance cost.

According to the SolarPower Europe group, 40 GW of panels were installed in 2022, and the EU plans to install 600 GW by 2030. which means that Europe is planning to increase the development of its own capabilities.