Renewable Energy Sources in Romania: From a “Paradise” of Investors to a Possible Abandon or to Another Boom? The Impact of a New Paradigm in Romanian Renewable Sources Policy

The objective of our working paper is to analyzethe renewable energy development policy in Romania, in the larger European context, and to reveal its impact in recent years and in the prospects of policy changes. Renewable energy sources (RES) have a great potential in Romania, especially the wind and solar ones, so that investment projects can be developed to ensure a green energy production, for a sustainable development. Under the legislation enforced in 2005 and implemented in 2011, Romania was able to meet its target of covering 24% of its final energy consumption from renewable sources much in advance (2013) of the 2020 deadline. Romania became an investor's “paradise”, placed by the international consulting firm (Ernst & Young 2013)at No. 13 on a list of 40 nations ranked by their attractiveness for investment in renewables (February 2013)The paper asses the main determinants of the RES sector development in Romania and the outcomes of the generous policy implemented in the field as compared to other EU member states. Based on a comparative analysis, the study presents some scenarios regarding a possible change of paradigm .in Renewable Energy Sources policy in Romania and in other EU member states and assesses its consequences on the medium and long term investment on domestic markets