Sustainable business models for wind and solar energy in Romania

Renewable energy has become a crucial element for the business environment as the need for new energy resources and the degree of climate change are increasing. As developed economies strive towards greater progress, sustainable business models are of the essence in order to maintain a balance between the triple bottom line: people, planet and profit. In recent years, European Union countries have installed important capacities of renewable energy, especially wind and solar energy to achieve this purpose. The objective of this article is to make a comparative study between the current sustainable business models implemented in companies that are active in the wind and solar energy sector in Romania. Both sectors underwent tremendous changes in the last two years due to changing support schemes which have had a significant influence on the mechanism of the renewable energy market, as well as on its development. Using the classical Delphi method, based on questionnaires and interviews with experts in the fields of wind and solar energy, this paper offers an overview of the sustainable business models of wind and solar energy companies, both sectors opting for the alternative of selling electricity to trading companies as a main source of revenue until 2013 and as the main future trend until 2020. Furthermore, the participating wind energy companies noted a pessimistic outlook of future investments due to legal instability that made them to reduce their projects in comparison to PV investments, which are expected to continue. The subject of the article is of interest to scientific literature because sustainable business models in wind and photovoltaic energy have been scarcely researched in previous articles and are essential in understanding the activity of the companies in these two fields of renewable energy.