Photovoltaic Business in Bulgaria

Investments in solar systems in Bulgaria based on photovoltaic technology are considered to be very profitable not only because of the climate special features providing high levels of solar radiation but also because of the nationally accepted special purchase prices for electricity generated by renewable energy sources. The positive impact of these factors can be described as follows:

• Bulgarian climate characteristics offer excellent conditions for realizing paying photovoltaic projects. The latitude of Bulgarian territories reveals possibility of about 4400 - 4500 hours of sun shining per year, however giving an account of the cloudiness the actual average sun shining is about 2100 - 2500 hours per year. The average annual amount of the summary solar radiation coming onto the horizontal surface of the ground varies between 1350 and 1670 kW/m2 for different locations in Bulgaria which guarantees high production of the photovoltaic systems and fast return of the investments.

• In order to stimulate further the investors' interest in renewable energy projects, Bulgaria has accepted special purchase prices for electricity generated by photovoltaic centrals which are 0.823 levs (without VAT) per 1 kWh for PV centrals till 5 kWp and 0.755 levs (without VAT) per 1 kWh for PV centrals more than 5 kWp. Furthermore, a lot of grant programs have been established aiming improving the possibility of the population for taking energy efficiency measures and both these facts have lead to high increase in investors' interest who realize that Bulgaria is not only an emerging market but a very beneficial field for high technologies achievements.