Attend RE+ Eastern Europe
Key Opportunities in Eastern Europe
Bulgaria and Romania are undergoing significant expansion within the renewable energy industry, particularly in solar power and energy storage, presenting numerous opportunities for industry professionals. Incentives and initiatives include:
- The Bulgarian government has awarded €268 million in grants to 249 renewable energy projects with energy storage components, demonstrating substantial support for the sector.
- The Romanian government has allocated EU funds for major battery energy storage projects via its National Recovery and Resilience Plan, facilitating the development of large-scale storage solutions.
Eastern Europe Solar Market Insights
The solar PV market in Eastern Europe has experienced significant growth, with cumulative capacity rising from 12.3 GW in 2020 to an estimated 50.1 GW in 2024. Poland, Hungary, and Romania are the largest markets, while Bulgaria and Romania dominate the utility-scale segment.
Five Eastern European markets, including Poland, Hungary, Romania, Bulgaria, and the Czech Republic, are installing over 1 GW of solar PV annually. While top markets like Poland, Hungary, and Bulgaria showed a decline in 2024, countries like Romania, Croatia, Latvia, Lithuania, and Serbia experienced significant growth compared to the previous year.
Annual Installed Solar PV Capacity | Eastern Europe | 2020-2024E | in GW
Source: EUPD Research GET Matrix© 2024
Cumulative Installed Solar PV Capacity| Eastern Europe | 2020-2024E | in GW
Source: EUPD Research GET Matrix© 2024
