The solar business in Bulgaria is
practically halted by bureaucracy and statutory loopholes. Bulgaria has good
potential for solar radiation, which ranges from 1,100 to 1,500 kWh a year in
the different regions. Foreign companies and banks, though, are unwilling to
take the risk of investing without knowing how the main obstacles to this
business will be cleared. That is the reason why the solar projects that have
obtained the full set of documents and permits are looking for strategic
partners to provide financing.
The lack of a fixed feed-in tariff for green energy is the main impediment to
the development of the industry. Currently the price of photovoltaic
electricity is BGN 823 per mWh for facilities of up to 5 kW and BGN 755 per mWh
for bigger plants. However, the tariff can be changed every year by the end of
March by decision of the State Energy and Water Regulatory Commission (SEWRC)