Eastern Europe sees Unprecedented Green Energy Growth driven by EU 20% RE by 2020 Target leading to a Subsidy Backlash

Eastern Europe sees Massive Green Energy Boom

Renewable Energy is Easter Europe has boomed driven by government incentives and subsidies.Many of these countries like Estonia,Bulgaria and Czech are cutting or already have cut generous feed in tariffs paid to Green Energy Investors.While Czech has seen an unprecedented Solar Boom leading to a massive public backlash,Estonia and Bulgaria have seen huge wind energy projects.The Green Energy has boomed in the last 2 years mainly as governments in these countries try to meet the Renewable Energy Target of 20% by 2020 set by the European Union.These East  European countries have been hit hard by these EU directives as the costs have spiraled.Eastern Europe sees Unprecedented Green Energy Growth driven by EU Renewable Energy Growth leading to a Subsidy Backlash

Immature Institutions Leads to Huge Green Costs

The Governance Institutions in these countries are not well developed leading to huge growth in Green Energy Subsidies.Even developed countries like Spain ,Italy and Germany have suffered from rising Green Costs.These smaller relatively poor countries are even less prepared for these costs.Almost all countries have seen a 10-50x increase in Green Energy Installations and the concurrent costs .The Backlash by the Public has been quite severe as Czech expects an increase of 15-25% in 2011 Electricity Costs due to Green Subsides.Romania is the latest to join the bandwagon with a 40x increase in Wind Energy Capacity in 2010 with 600 MW to be installed.