Secretariat commends Serbia's implementation of renewable energy auctions to drive transition towards clean energy

Renewable energy
15 June 2023

The Energy Community Secretariat commends Serbia for its recent achievement in adopting the necessary legislation and publishing its first renewable energy auction, in alignment with the requirements outlined in the Renewable Energy Directive (REDII). This significant step signifies Serbia's commitment to the development of a competitive and efficient renewable energy market.

Market-based support schemes, such as auctions, play a pivotal role in fostering a competitive environment for renewable energy investments. The Secretariat recognizes the importance of leveraging Serbia's abundant solar and wind resources to diversify the country's energy mix, thereby reducing reliance on fossil fuels.

By transitioning from administratively set feed-in tariffs to auctions, Serbia is stimulating competition among renewable energy investors. This shift is expected to result in more cost-effective and innovative projects, ultimately driving down the cost of renewable energy generation in the country.

In addition, renewable energy auctions facilitate the seamless integration of renewables into electricity markets, providing an opportunity for renewable energy sources to participate directly. This enhanced market integration contributes to a more sustainable and flexible power system.

The adoption of renewable energy auctions also aligns with Serbia's 2030 targets. By implementing auctions, Serbia is paving the way for significant renewable energy deployment on a larger scale, which will accelerate the country's progress towards achieving its ambitious 2030 targets.

The Secretariat congratulates Serbia's on its commitment to advancing the renewable energy sector and encourages other nations to follow suit, emphasizing the importance of market-based mechanisms for the successful transition to a clean energy future.

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