The natural potential for renewable energy generation in the CEE region is high (including solar, wind, hydro and geothermal sources). However, much of the renewable generation potential is currently underutilised due to the protection of traditional fossil fuel industries, insufficient investment in the energy infrastructure and other considerations (such as commitment to new developments of nuclear power plants).
Nevertheless, investment in renewables is expected to increase due to the consistent downward trend of costs and ambitious EU targets for the post-2020 period. This process is expected to be further accelerated by a growing awareness of climate change and the leadership of transnational companies that are aiming to power their operations on renewables.
There are excellent conditions for geothermal energy production in several CEE countries, such as Hungary. The Hungarian government intends to stimulate investment in this sector as part of its energy policy. The first geothermal heat and power plant in Hungary was connected to the grid in late 2017 and plans for further geothermal power and heating development in Hungary were announced in 2018.
University of Cambridge Institute for Sustainability Leadership (CISL). (2019). The energy transition in Central and Eastern Europe: The business case for higher ambition. Cambridge, UK: The Prince of Wales’s Corporate Leaders Group.
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