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Solar panel boom envisaged for Hungary

Hungary could launch HUF 500 billion worth of solar panel investments as potential investors applied for licenses for a combined 1,350 megawatts of capacity by the end of last year, Ernő Kiss, president of the Hungarian Solar Panel Association, told Hungarian daily Világgazdaság.

According to Hungarian online news portal, some 2,500 permit inquiries to the Hungarian Energy and Public Utility Regulatory Authority (MEKH) would constitute a significant boom for the Hungarian market. The increased number of submitted inquiries might have been affected by tightening regulations as of January 1 this year.

According to Kiss, 60% of the investments (worth approximately HUF 300 billion) could strengthen the Hungarian economy, as this is the estimated portion of such investments made up of expenditure on tools, spare parts and installation.

At the same time, Kiss warned that MEKH might not necessarily accept all the applications, and it is not sure that all the planned investments will finally be realized. He also noted that solar panel production in Hungary is in a disadvantageous position, as installation works in Europe have peaked and many solar panel plants have already closed their shutters, while the U.S. and China are still enjoying a boom.