The analysis of the renewable energy production sector in Serbia

Abstract

Producing energy from renewable sources in Serbia is in its initial phase, and therefore this paper points towards the basic assumptions, potentials and institutional framework for the development of this activity in Serbia. Until recently, production and consumption of energy in Serbia was a social category, but the shift towards market economy together with the fact that Serbia has adopted Kyoto protocol, production of energy from renewable sources became a competitive and obligatory activity. Research shows that the current potentials for producing energy from renewable sources in Serbia are favorable. Besides this, the paper provides an overview of the existing institutional structure in the energy sector in Serbia, but also the short overview of the adequate legal acts. Researches that were done so far have proven that energy potentials of Serbia are insufficiently known and therefore authors will give an overview of the foreign investments in this sector and reveal the possibilities for further investing. Considering the existing know-how base and potentials for the production of equipment, geothermal energy and energy coming from biomass have been identified as priority renewable sources of energy. Producing energy from other renewable sources is also possible, but would require substantial foreign investments. As a final conclusion, the paper states that completely unused potentials for production of energy from renewable sources, together with adequately set institutional framework, would create great possibilities for foreign investments.