CURRENT CONCERNS AND TRENDS IN THE BUSINESS OF RENEWABLE ENERGY

Achieving sustainable growth of the renewable energy market is vital in order to reach global targets for sustainability and environmental improvement. The present paper analyzes changes in the market of renewable energy, technological advances, potential benefits, as well as present and future obstacles. Changes of the renewable energy support systems have lead to a reconsideration of what drives investments in the field and how the business can be fostered on the long-term. Although significant reductions of the costs for renewable energy have been achieved, as is the case of photovoltaic energy, the high investment cost, as well as the difference between prices for energy from renewable sources and prices for conventional energy, still represent barriers to be overcome by the investors. Ways of improving the distribution and storage of energy from renewable energy are continuously being researched. The present paper empirically proves the importance of entrepreneurship and innovative business models in developing the renewable energy market, as well as technological research that would lead to the long-term cost efficiency of renewable energy.