.: Bulgarian solar market
As member state of the European Union Bulgaria has adopted the aims of the program “20% by 2020”, and set a national target of 16% share of the Renewable energy sources (RES) since year 2020. The intermediate target is 11% since 2010. At the present moment the only 7% of the energy in the country is coming from RES. 96% of this share is belonging to the hydro-power plants and the rest 4% are spread among wind, solar, geothermal and other RES.
The Bulgarian government has strong policy for encouraging the investments in the renewable energy.
In the Law of Renewable and Alternative Energy Sources and Bio fuels is set up a 25 year period for state guaranteed sale of the energy produced by solar installations and power plants at preferential rates (feed-in tariff).
The up to date feed-in tariff is ~ 0,386 Euro/kWh, which is significantly higher than in the more developed solar markets in Europe.
Together with the high feed-in tariff and the long term of guaranteed sale of energy the Bulgarian government started programs for direct financial support of the solar power plants development. There is an operative program for co-financing of solar installations which provides 20-70% of the total project realization costs for projects up to 1 000 000 Euro.
In the next months other programs for co-financing of solar investments targeting municipalities and private investors will start operation.
At the same time Bulgaria stays the EU member state with the lowest tax rates for the corporative and personal taxes which additionally increases the return on the investments.
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