The new report from Energy & Natural Resources Market Reports has been published today. It provides updated in 2018 year analysis of energy & natural resources industries.
Serbia is a sovereign state situated at the crossroads of Central and Southeast Europe, covering the far southern edges of the Pannonian Plain (Vojvodina) (a region Central Europe) and the central Balkans. It shares borders with Bosnia-Herzegovina, Bulgaria, Croatia, Hungary, the Republic of Macedonia, Montenegro, Romania and Albania. It is landlocked, although access to the Adriatic Sea is available through Montenegro, and the Danube River provides shipping access to inland Europe and the Black Sea. Serbia covers a total of 88,361 km2.
The population was 7.06 million and the current gross domestic product (GDP) was $37.75 billion as of 2016. Serbia renewable power market value, which was USD XXX billion in 2016, is expected to grow to USD XXX billion in 2017, at a CAGR of XXX percent. Electricity production in Serbia relies over 70 per cent on coal, while the remaining approximately 30 per cent is produced in large hydropower plants. Although the country has produced oil and gas in small quantities since the mid-50s of the past century, it is heavily reliant on imports, mostly from Russia. The electricity market in Serbia is dominated by the national power utility EPS (Elektroprivreda Srbije – Power Industry of Serbia), which owns all large generation capacities and supplies all the consumers in the residential and commercial sectors, and most eligible consumers – these are industrial facilities with high electricity consumption which have the freedom of choosing their supplier because they are directly connected to the transmission system.
Technically exploitable potential of the renewable energy sources (RES) is estimated at about 5.6 million tonnes of oil equivalent (Mtoe) per year as follows: about 3.4 Mtoe of biomass, around 1.7 Mtoe of hydropower, around 0.2 Mtoe of geothermal energy, around 0.1 Mtoe of wind energy, about 0.2 Mtoe of solar radiation energy and about 0.04 Mtoe of biodegradable waste. The Republic of Serbia now uses 35% of the total available technical potential of the renewable energy.
The Energy Strategy of the Republic of sets out objectives to be met and areas of special interest or intervention until 2025, with projections until 2030. The National Action Plan for Using Renewable Energy Sources of the Republic of Serbia sets out objectives regarding RES use for the period until 2020. The applicable Serbian promotion scheme consists of the state-owned company (EPS Snabdevanje d.o.o., “EPS Snabdevanje”) entering into a twelve (12) year power purchase agreement with RES-Electricity generators, pursuant to which EPS Snabdevanje purchases electricity from the generators at incentivised feed-in tariffs, which are guaranteed during the term of the PPA.
The country’s main strategy to meet the growing need of power is to reduce the energy dependency by increasing the energy efficiency, increased use of renewable resources, coal sources, and connecting to the European power infrastructure.