According to the Bloomberg report, 2011 was a record year for investments in renewable energy. These investments exceeding 260 billion dollars in 2011, up 5 per cent compared to 2010 and nearly five times more than in 2004 in which the investment was 53.6 billion dollars. Investments in solar energyÂ have surpassed wind power, a surprisingly
According to the Bloomberg report, 2011 was a record year for investments in renewable energy. These investments exceeding 260 billion dollars in 2011, up 5 per cent compared to 2010 and nearly five times more than in 2004 in which the investment was 53.6 billion dollars.
Investments in solar energyÂ have surpassed wind power, a surprisingly large investments in renewable energyÂ sources were to the U.S. in that for the first time since 2008 ahead of ChinaÂ due to various state incentives. Record Investment in 2011 are particularly appealingÂ because they were generated during the turbulent years of the global economicÂ crisis.
Total investment in solarÂ technology in 2011 amounted to 136.6 billion dollars, which represents anÂ increase of 36 percent over the previous year. This is almost double the 74.9Â billion dollars invested in wind farms, a decline of 17 percent over theÂ previous year. Europe as a whole had an increase in investment of renewableÂ energy by 3 percent, to 100.2 billion dollars, with the greatest investment inÂ solar energy technology.
Bosnia and Herzegovina doesÂ not have the energy production from renewable sources other than small hydroÂ power plants of total installed power of 37.7 MW, of which 23.7 MW in the FBiHÂ and 14 MW in RS. As for biomass, 1.5 million tons of firewood is estimated asÂ annual consumption in BiH, but it can not be considered renewable because thereÂ are no data on the control of the sustainability of this source. The efficiencyÂ of utilization is even more questionable. There is no action plan to promote
renewable energy sources or legislation at the state level. The Government ofÂ the Federation is June 2010 adopted the Regulation on the use of renewableÂ energy sources which are numerically expressed objectives expressed as aÂ percentage of the total energy needs could be covered by renewable sources, butÂ the enforceability of the other goals of permissive. The current rules onÂ subsidies for production of electricity from renewable sources and efficient cogenerationÂ can be downloaded here.
There are intentions inÂ building wind power plants in Bosnia, and there is ongoing collection of projectÂ documentation and construction of a wind farm in Tomislavgrad, Livno andÂ PodveleÅ¾je. At present there is a photovoltaic power system totaling a 3.9 kWÂ of installed capacity, which is mounted on the roof of the Centre for specialÂ needs children Los Rosales in Mostar.
It is important to note thatÂ funding for the incentives provided for by Regulation production of electricityÂ from renewable sources and efficient cogeneration of electricity paid byÂ consumers on a monthly basis. The fee for renewable energy in the Federation ofÂ Consumers allocate 0.001 KM plus VAT per kilowatt hour while in RS the compensationÂ will be paid by all consumers at a price of 0.018 KM per month per kilowattÂ hour of electricity.
The intention of theÂ Government of the Federation as a whole to legislate in this area is a positiveÂ trend in 2012. In the public debate a draft law on renewable energy andÂ efficient cogeneration and the Law on Energy Efficiency in the pipeline. It is
expected that the legal framework to edit the field and increase investment inÂ this sector to BiH catch up with the world.
With the current EuropeanÂ financial crisis 2012 looks like another challenging year for investment inÂ renewable energy.