Investment opportunities in the field of renewable energy sources in the Republic of Serbia

Abstract

Energy efficiency and renewable energy are areas that are very promising, with the growing importance on the global marketplace. These are based on large and complex sets of regulations and controls, at both domestic and international level. In order to successfully fulfill the targets set in these areas including the greater registered use of renewable energy sources, it is required to boost cooperation with the banking sector, which may, primarily owing to its financial support and know-how, be the key partner in the implementation of many public and commercial projects. The paper analyzes the opportunities that the regulatory framework in the Republic of Serbia introduced in the field of renewable energy, including the legal framework and mechanisms that regulate the nature of the relationship between various stakeholders. The basic premise of the research is that the good regulations aim to provide predictability of income in the project, which has a direct impact on the reduction of costs and risks related to financing. Also, the paper analyzes the challenges that should be overcome in the future and recommends the possible further activities towards the more comprehensive funding, improvement of the general level of awareness about the importance of renewable energy projects and the role of banks in financing their further development.