ROMANIAS FUNDING SOURCES FOR INCREASING THE SHARE OF RENEWABLE ENERGY SOURCES AND THE REDUCTION OF GREENHOUSE GAS EMISSIONS

Abstract

Renewable energy plays a fundamental role for the Green Deal and for achieving carbon neutrality by 2050. EU Directive on renewable energy revised confirms the community block objective of obtaining 38-40% of energy from renewable sources by 2030, doubling the share of solar, wind and other renewables in Europe's energy mix by the end of the decade. The European Commission recommended that Romania increase the share of energy from renewable sources used for the year 2030 to at least 34% in a future analysis. Romania has a high energy potential from renewable sources, which is not yet fully exploited and has a great advantage due to the diversity of available energy resources. Thus, through this study we aimed to analyze the potential of renewable energy in Romania, as well as the possible sources of financing at national and European level for projects that aim to invest in renewable energy sources. Romania has a high energy potential from renewable sources, which is not yet fully exploited and has a great advantage due to the diversity of available energy resources. Consequently, the targets regarding the increase of the share of renewable energy sources and the reduction of greenhouse gas emissions can be achieved thanks to the multiple sources of financing that exist and will exist for Romania.