Renewable power comprising wind and solar are the fastest-growing electricity generation sources in Croatia. It is expected that the share of renewable power will reach 26.3% in Croatia’s power mix by 2030. This is according to a recent report by GlobalData, a leading data and analytics company.
As of 2018, hydro dominated the Croatia power mix, with a share of 44.6% of the total installed capacity. This was followed by thermal power with 39.4%.
According to the report, cumulative renewable installed capacity has reached 0.79 GW in 2018, increasing at a CAGR of 42.4% from 2005 to 2018. Renewable capacity is further expected to increase at a CAGR of 7.7%. Furthermore, it is anticipated to reach 1.93 GW by 2030.
Onshore wind is projected to accumulate the highest capacity among renewable energy sources. This is due to the high potential in southwestern coastal region. Besides, solar PV and biopower are also estimated to witness a significant CAGR of 15% and 8% respectively in the same period.
The installed capacity of renewable power sources (excluding small hydro) increased from 19 MW in 2005 to around 790 MW in 2018.
Renewable power plants on the increase
The Croatian government is escalating its focus on constructing new renewable energy power plants and CHP plants. The government aims to reduce greenhouse gas emissions and decrease its fossil fuel imports. This will also create a long term positive impact on its gross national product.
On a percentage basis, the share of hydropower and thermal power capacity will decline from 44.6% in 2017 to 39.0% in 2030 and 39.4% in 2017 to 34.7% in 2030 respectively. The shortfall is expected to be replenished by renewable energy sources.
Various schemes such as premium tariff support schemes, guaranteed feed-in tariffs, and the falling price of renewable energy installations, will boost the renewable power installation. Until December 2015, the growth of renewable energy was supported by the FiT system. The premium tariff support scheme was introduced in the country on 1 January 2016 and it has replaced FiT.