Dragos Paun, Ciprian Adrian Paun


In order to meet the targets of the Europe 2020 strategy in the environment sector, the Romanian government has set up several support schemes. The objective of the paper was to analysis how the the introduction of Renewable Energy Sources – Windfarms has affected the price of energy and the sustainability of the measures for the Romanian Economy. For assessing the impact of the RES we have used monthly data from 2008 to 2014 for the wholesale price of energy and the percentage of each energy type that was introduced into the energy grid. In the article we have used the Least Squares methodology and multiple regression analysis to see the impact of each source (coal, nuclear, gas, hydro, etc.). The results provide a very positive approach and could lead to major policy changes and to long-term sustainability of energy production in Romania.   

Total Views: 515


bio diesel; renewable energy; wind farms; fossils fuels; price;

Full Text:



Grecu, E., New Technologies - Between Business and Environmental Protection in Romania. Environmental Engineering and Management Journal, 2014. 13(8): p. 1873-1879.

Ionescu, M., European Energy Interconnection Effects on the Romanian Economy. Annals of the University of Oradea, Economic Science Series, 2014. 23(1).

Plumb, I. and A. Zamfir, Managing Renewable Energy: The Romanian Practice. Review of International Comparative Management, 2009. 10(1): p. 10.

Alexandru, A., C. Tantareanu, and E. Jitaru, Towards a Sustained Use of Renewable Energy Sources in Romania. World Academy of Science, Energeering and Technology, 2008. 44.

Stefan, G., C. Mihai, and O. Coca, The Evaluation of the Economic Profitability Generated by the Investments in Wind Energy. Innovation and Sustainable Competitive Advantage: From Regional Development to World Economies, Vols 1-5, ed. K.S. Soliman. 2012, Norristown: Int Business Information Management Assoc-Ibima. 1297-1302.

Ţăpurică, O.-C. and F. Tache, An empirical analysis of the projects aiming sustainable energy development (SED) in Romania. Renewable and Sustainable Energy Reviews, 2014. 37: p. 13-20.

Benedek, J., M. Cristea, and B. Bartok, Regional Development and Establishment of Renewable Clusters in North-West Region of Romania. Environmental Engineering and Management Journal, 2013. 12(2): p. 8.

Câmpeanu, V. and S. Pencea, Renewable Energy Sources in Romania: From a “Paradise” of Investors to a Possible Abandon or to Another Boom? The Impact of a New Paradigm in Romanian Renewable Sources Policy. Procedia Economics and Finance, 2014. 8: p. 129-137.

Ruiz Romero, S., A. Colmenar Santos, and M.A. Castro Gil, EU plans for renewable energy. An application to the Spanish case. Renewable Energy, 2012. 43: p. 322-330.

Kaldellis, J.K., M. Kapsali, and E. Katsanou, Renewable energy applications in Greece—What is the public attitude? Energy Policy, 2012. 42: p. 37-48.

Timilsina, G.R., G. Cornelis van Kooten, and P.A. Narbel, Global wind power development: Economics and policies. Energy Policy, 2013. 61: p. 642-652.

Lang, C., J.J. Opaluch, and G. Sfinarolakis, The windy city: Property value impacts of wind turbines in an urban setting. Energy Economics, 2014. 44: p. 413-421.

Hirth, L., F. Ueckerdt, and O. Edenhofer, Integration costs revisited – An economic framework for wind and solar variability. Renewable Energy, 2015. 74: p. 925-939.

Dillig, M., M. Jung, and J. Karl, The impact of renewables on electricity prices in Germany – An estimation based on historic spot prices in the years 2011–2013. Renewable and Sustainable Energy Reviews, 2016. 57: p. 7-15.

Osorio, S. and A. van Ackere, From nuclear phase-out to renewable energies in the Swiss electricity market. Energy Policy, 2016. 93: p. 8-22.

Bigerna, S. and C.A. Bollino, Demand market power and renewables in the Italian electricity market. Renewable and Sustainable Energy Reviews, 2016. 55: p. 1154-1162.

Gouveia, J.P., et al., Effects of renewables penetration on the security of Portuguese electricity supply. Applied Energy, 2014. 123: p. 438-447.

Zhao, X., et al., The effectiveness of China's wind power policy: An empirical analysis. Energy Policy, 2016. 95: p. 269-279.

Hirth, L., The market value of variable renewables. Energy Economics, 2013. 38: p. 218-236.

Winkler, J., et al., Impact of renewables on electricity markets – Do support schemes matter? Energy Policy, 2016. 93: p. 157-167.

Law, Legea energiei electrice. 2003: Monitorul Oficial partea I nr. 511/16.07.2003.

Law, Legea energiei electrice. 2007: Monitorul Oficial, Partea I nr. 51 din 23/01/2007.

GD, Hotararea 1892 pentru stabilirea sistemului de promovare a producerii energiei electrice din surse regenerabile de energie. 2004: Monitorul Oficial Nr. 1056 din 15 noiembrie 2004.

Law, Legea pentru stabilirea sistemului de promovare a producerii energiei din surse regenerabile de energie. 2008: Monitorul Oficial, Partea I nr. 577 din 13 august 2010

Rao, R.C., Linear Statistical Inference and its Applications: Second Editon. 2008, online: Wiley.

Smirnov, N.V.e. and I.V. Dunin-Barkovskiĭ, Mathematische Statistik in der Technik; Kurzer Lehrgang. Mathematik für Naturwissenschaften und Technik,Bd. 9. 1963, Berlin: VEB Deutscher Verlag der Wissenschaften. 431 p.

Draper, N.R. and H. Smith, Applied regression analysis. 1981: Wiley.

Sen, A. and M. Scrivastava, Regression Analysis — Theory, Methods, and Applications. 2011: Springer Verlag.

ANRE, Report concerning the results of the monitorization of the electric energy market for the months 2008-2014. National Regulatory Agency for Energy

operator, R.g.a.e.m. [cited 2014 5.07].


  • There are currently no refbacks.

Online ISSN: 1309-0127;;

IJRER is cited in SCOPUS, EBSCO, WEB of SCIENCE (Thomson Reuters)