BUCHAREST, Oct. 30 (Xinhua) -- Romania has set its target for 2030 to achieve a renewable energy target of 32 percent of consumption, compared to the current 24 percent, an official from the Ministry of Energy said Tuesday.

"Romania's target will be 32 percent for 2030. As we have already exceeded the target for 2020 by 4 percent, another 8 percent in the next 12 years is very likely to be installed without a special financial support," said Niculae Havrilet, the adviser to the minister of energy, told the "Energy Transition 2018" conference.

According to him, the costs in this sector have fallen sharply, from 1.5 million euro per MW turbine installed in 2007 to the current 600,000-700,000 euro, which means that there is already competition between power generation systems, classical sources and renewable energy, without the need for green certificates.

Currently, renewable energy production is subsidized by all consumers on the bill, through green certificates, so all these cost reductions will also be reflected in the consumers' bill, Havrilet said.

Romania is seeking to derive more of its energy needs from renewable sources and ranks among the best performers in the European Union (EU) in terms of renewable energy production.

At present, there are in Romania wind turbines with a total capacity of 3,105 MW, photovoltaic panels of 1,361 MW, micro-hydropower plants of 342 MW and biomass plants of 143 MW, according to data released at the conference.

In the EU and in Romania alike, hydro power is the most important source, followed closely by wind power and then solar power. Other renewable sources for generating electricity include wood, biogas, renewable waste and geothermal energy.