Does Bulgaria have a solar rebate scheme?

The Bulgarian Ministry of Energy has launched a solar rebate scheme to the tune of BGN 240 million to help households reduce their carbon footprint and put downward pressure on their electricity bills.

How much solar power will Bulgaria have in 2022?

According to SolarPower Europe (SPE), Bulgaria reached 1.5 GW of cumulative installed PV capacity at the end of 2022. “Bulgaria’s solar target remains low as PV will only account for 2.6% of electricity in 2040,” SPE said in its 2022-26 EU solar market outlook.

Does Bulgaria have a solar potential?

“Yet Bulgaria benefits from high irradiation rates, notably in the south of the country, and has an important solar potential, which is not reflected in the current target.” In 2020, SPE forecast Bulgaria to hit 3.8 GW by 2024, thereby exceeding its 2030 target.

What is a solar panel subsidy?

The primary purpose of offering a solar panel subsidy is to encourage homeowners to adopt solar. Towards the beginning, the state-wise solar subsidy program was devised to meet the target of installing 4 GW worth of solar systems at homes across the entire country by December 2022. Due to the onset of the COVID-19 pandemic, things got delayed.

Does Bulgaria have a solar target?

“Bulgaria’s solar target remains low as PV will only account for 2.6% of electricity in 2040,” SPE said in its 2022-26 EU solar market outlook. “Yet Bulgaria benefits from high irradiation rates, notably in the south of the country, and has an important solar potential, which is not reflected in the current target.”

How much money will be distributed from Bulgaria's National Recovery & Resilience Plan?

Following the final approval from the European Commission, a total of BGN 140 million will be distributed from Bulgaria’s National Recovery and Resilience Plan, with the remaining sum coming from additional state and private sector funding. As much as BGN 80 million will be distributed in the first funding round.