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IEA, NEA: Renewable energy beneficial for Hungary

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Renewable energy would be beneficial for Hungary, according to a study conducted by the International Energy Agency (IEA) and NEA involving 181 power plants, vg.hu reported on Friday. 

Green energy and nuclear energy derived from plants installed after 2020, will be the most cost-efficient, partly due to a sharp drop in renewable technology in recent years – mainly of solar and wind.

The study underlines, however, that in countries such as Hungary where household energy prices are state subsidized, it is usually more difficult to receive a subsidy for green energy investments, and virtually impossible, since 2010, to receive a state subsidy for wind turbines in Hungary.

The study also found there to be a strong correlation between electricity prices and green energy prices, while the market and regulatory environments also play an important role in the price level of green energy.

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