Bulletin UASVM Horticulture, 69(2)/2012 Print ISSN 1843-5254; Electronic ISSN 1843-5394 Research and Conclusions of Legal and Economic Feasibility of Renewable Energy in Romania Călin VAC 1) , Felix ARION 1) , Sonia SÂNĂ 1) , Simion SCRIDON 1) 1) University of Agricultural Sciences and Veterinary Medicine Cluj-Napoca, 3-5 Mănăştur Street, 400372 Cluj-Napoca; calinvac@yahoo.com Abstract. Base materials used in our research are legal documents of the Romanian and European legislation specific renewable energy field, which define the legal, economic and financial framework and have been applied on four specific case studies (investment projects): production of wind, solar or biomass energy and geothermal energy efficiency using. Research method used was analysis of legislative, economic, financial, risk sensitivity and feasibility of solutions investigated. Full liberalization of energy prices will cause significant increases in energy prices on the market and the only alternative, in our opinion, is increases of energy efficiency by using renewable energy and / or mechanisms for cogeneration. From our research, the full approval period of a proposed investment in electricity production in Romania is between 12 and 24 months, plus about two years for investment implementation, and costs attached thereto are complete about 200,000 eur / project. We also found that the total amounts of implementation costs 1,7 to 1,9 million eur per every 1 MWh installed, depending on the type of renewable resource implemented. The electricity can be traded on the regulated or competitive market, wholesale or retail, using one of the trading platforms operated by SC OPCOM SA. The proceeds from the sale of the electricity, one can add additional revenue from the sale of green or greenhouse gases certificates. The substantive conclusion emerges from studies is that, although Romania has significant renewable resources, is necessary to improve the legal and economic framework that could provides financial security, predictability and stability. Keywords: renewable energy, economic feasibility, energy efficiency INTRODUCTION The concern of European Union, and Romania as a member, in renewable energy policies, bases both on protecting the environment, affected by massive exploitation of fossil fuels and emissions of greenhouse gases in the atmosphere, and growth policies energy efficiency, especially from large electricity consumers (An Energy Policy for Europe, Energy Strategy of Romania for 2007-2020). It should be noted that European Union strategies and policies does not propose full replacement of fossil fuels with renewable energy sources, but their alternative use, in amounts established by the European Commission experts, which contributes to efficient energy consumption by using cheaper and underused sources and protect the environment and its resources, given that these resources are limited. In 2008, the European Commission launched the 20/20/20 policy, which means that by 2020 the EU countries has to reduce emissions by 20% in greenhouse gas emissions compared to 1990 (i.e. by 14% compared to 2005) and use renewable energy share of 20% of total energy consumption. This initiative has joined the other European directives and strategies (An Energy Policy for Europe, European Commission White Paper for a Community Strategy: „Energy for the future: renewable sources of energy”, 2003/30/EC Directive, 2004/8/EC Directive, 2009/72/EC Directive etc), all aimed in normal use of the resources to reserves on the planet, preservation and conservation, pollution reduction, efficient energy consumption. 337