EU’s Renewable Energy Targets. An Economic Analysis of Floating Photovoltaic Plants on Inland Waters in Romania

Abstract

The European Union’s (EU) imperative for its Member States to achieve climate neutrality has elevated the role of photovoltaic (PV) parks in the renewable energy landscape. However, the proliferation of photovoltaic (PV) plants presents sustainability challenges, notably in terms of land requirements for installation. This puts a strain on the allocation of the available land, leading to competition with vital economic sectors like agriculture and industry. In response to that challenge, this article proposes an analysis of the viability of the installation of photovoltaic (PV) panels on floating platforms on Romanian lakes. Employing a comprehensive methodology, this study evaluates key metrics including capital expenditure (CapEX), operational expenditure (OpEX), and the levelized cost of energy (LCOE). By examining the profitability and broader implications of floating photovoltaic (PV) installations, this research aims to contribute to the discourse on sustainable energy solutions amidst land scarcity. It underscores the potential of leveraging water surfaces to meet the EU’s renewable energy targets, while alleviating pressure on land resources, and informing policymakers and industry stakeholders on the feasibility and benefits of adopting innovative approaches to green and clean energy generation.

Keywords

• renewable energy
• floating photovoltaic installations
• land scarcity
• romania