In the course of implementing its European integration processes, Serbia should focus on the maximum use of the potential coming from renewable energy sources. In order to achieve this, Serbia must develop adequate energy policies in line with the EU requirements. Therefore, adjusting energy markets to the EU standards will enable efficient integration of the EU energy markets and parallel maximization of energy integration with the border countries, including Hungary. An insight into the plan of development and exploitation of energy potential of the Republic of Hungary, which stands as the member of the EU, will enable identification of the future guidelines for the energy development of the Republic of Serbia. Projection of future energy development of Serbia relies directly on the currently available energy potentials and the possibility of their efficient and effective exploitation in the near future. The paper summarizes the current state of renewable energy sources in Serbia and Hungary and identifies the level of energy potential generated from biomass, the level of exploitation of hydropower potential, geothermal energy, wind energy and solar energy. At the same time, the paper deals with the desired projection of the potential coming from renewable energy sources of Serbia and Hungary by 2020.