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DESIGNING ROMANIAN FUTURE WITH RENEWABLE ENERGY: AN ECONOMIC PERSPECTIVE

Ionica Oncioiu, Alina Stanciu, Prof. Dr. Aurelia Felicia Stancioiu, Iulia Alecu

Abstract

Producing energy from renewable sources represents an essential component of energy policies at a national level and it leads to important savings of fossil fuel and primary energy. According to the targets established by the National Reform Programme, Romania intends to obtain a rate of 24% sources of renewable energy from the total consumption in 2020. On this foundation, the challenge of renewable energy goes beyond assessing its future role. This article investigates the development of renewable energy in terms of energy production and consumption, on the one hand, and on the other hand, it presents a model to forecast the region's evolution of renewable energy diffusion, focusing on wind and photovoltaic energy (up to three years). Statistics proved that Romanian consumers have a key role in developing the green energy market, but it is also very important to ensure the ability of renewable energy suppliers to accommodate to this demand. Sample data and econometric regression analysis were applied to delineate factors influencing Romanian consumersпїЅ awareness about renewable energy. The research findings from this regression analysis highlight a strongly connection between those who bear the cost of renewable energy development and the actual beneficiaries of a clean environment to identify the major drivers and barriers for renewable energy diffusion in Romania. The results of this forecast regions analysis of renewable energy (wind and photovoltaic ones) could be used for further research in the area of implementing renewable energy projects for the urban development of the regions.

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DOI resolver: doi.org/10.5593/sgem2017/53/s21.022

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