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Bulgaria currently imports around 70% of its energy from Russia. Legislation is calling for renewable energy generation to increase from 10% to 20% by 2020. At present solar potential exists mainly in the East and South of Bulgaria, while the rest of the country concentrates on other sources of renewable energy, such as wind and biomass.
The Bulgarian State Energy and Water Regulation Commission enacted, as of June 2011, new tariff levels for renewable energies included in the feed-in framework and implemented a renewed classification system for solar PV installations. The feed-in tariff presently stands at €0.248. Tariffs only apply to renewable energy plants whose construction started after May 4th and is completed by July 1st 2012, range over a 12-year period for wind and hydropower generation and over a 20-year period for other plants.
The FiT rate is derived from a portion of 80% of the average electricity price in the previous year. A variable surcharge is added that cannot be less than 95% of the previous year’s level. That means the PV FiT could also increase as electricity prices have risen sharply in Bulgaria in the past four years.
Future annual tariff rounds will take effect in June of each year.
Bulgaria is expected to increase the amount of solar installations in the future, and with the yearly review of the FiT rate one should expect to see a lot more interest in this energy as the country works out the best policy to fit the market.
