Investments in Energy Storage Systems as a Driver of Competitiveness in the Renewable Energy Sector of Moldova

Abstract

The rapid expansion of renewable energy sources (RES) in Moldova has created both opportunities and challenges for the national energy system. Intermittent generation from solar and wind power leads to frequent imbalances between electricity production and consumption, resulting in inefficiencies, higher system costs, and potential risks to energy security. In this context, large-scale energy storage systems (ESS) have emerged as a critical solution to enhance the flexibility, stability, and efficiency of the energy sector. The purpose of this study is to assess the role of investments in ESS as a factor of economic growth and enterprise competitiveness in Moldova. The research focuses on evaluating how ESS integration can mitigate the volatility of renewable energy generation, reduce dependence on imported electricity, and improve energy reliability for enterprises. The study employs a comparative analysis of international experiences, combined with an assessment of Moldova’s investment potential, regulatory framework, and current barriers. Financial models, state incentives, and innovation-driven adoption strategies are also examined. The findings indicate that strategic investments in ESS can provide multiple benefits. At the enterprise level, ESS reduces energy costs, lowers exposure to price fluctuations, and increases operational resilience. At the macroeconomic level, energy storage enhances national energy security, supports the efficient utilization of RES, and contributes to Moldova’s alignment with the EU Green Deal and sustainable development goals. The study concludes that targeted ESS investments represent a significant opportunity to strengthen the competitiveness of Moldovan enterprises, stimulate innovation, and foster long-term economic resilience. JEL: Q42, Q43, Q48, O13