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The Renewable Energy Sector in Bulgaria

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The renewable energy sector in Bulgaria

One of the conditions for Bulgaria to join the European Union was that by 2010, the country should be able to produce at least 10 per cent of its energy through renewable sources, wind, biomass, hydro, geothermic or solar energy, while by 2020 it has to reach 16 per cent. In this paper we will look at some of the conditions and companies which contribute to reach this percentage.
1. First of all we will point out some of the prerequisites for successful development.
It seems out that Bulgaria is really suitable country for the development of renewable energy. First of all, we have lower cost of labor compared to other countries. What is more, Bulgaria has very appropriate geographical location in combination with comparatively low cost of land to buy up or in concession. One of the biggest advantages of our country, which is attractive for investors, is the tax of only 10%.
On the other hand, there were some disadvantages which had hindered the development of renewable energy in Bulgaria. One of it was the cost of electricity which has been far lower than many other parts of Europe and this has been a high barrier to entry for many consumers as there was no reason for them to make an investment in the solar installation.This has now changed because the utility prices in this country are now on a par with the rest of Europe and the Government has introduced incentives to encourage solar use.
According to reports on biodiesel consumption in Bulgaria, a staggering increase in 2010 amounting to 38 911, 13 tonsis registered, according to preliminary information from the Ministry of Economy, Energy and Tourism.Biodiesel consumption in the previous two years came in at 4260 tons and 6566 tons respectively, following a report prepared by Traicho Traikov, Minister of Economy, Energy and Tourism, on the implementation of

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