Bulgaria anticipates a significant boost in solar photovoltaic (PV) capacity, with between 1 gigawatt (GW) and 1.5 GW expected to come online in 2024, revealed Dimitar Zarchev, Director of the Central Dispatch Office of Electricity System Operator (ESO), during an energy summit in Sofia on Tuesday.
Zarchev, speaking at a panel discussion, highlighted the country's ambitious plans to increase its total installed solar capacity to approximately 4.5 GW, underscoring Bulgaria's ongoing commitment to renewable energy development.
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“The rapid deployment of solar energy witnessed in 2023, exceeding 1 GW of new installations, sets the stage for continued growth,” stated Zarchev, emphasizing the substantial progress made in expanding Bulgaria's solar energy infrastructure.
According to estimates by the Association for Production, Storage, and Trading of Electricity (APSTE), Bulgaria has nearly tripled its installed solar capacity, surging from just over 1 GW at the close of 2020 to nearly 3 GW by the conclusion of 2023.
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However, Zarchev cautioned that this rapid expansion presents new challenges, particularly regarding potential oversupply issues expected to emerge as early as March. To address this surplus, Zarchev advocated for market-driven mechanisms over production constraints, noting that negative prices may result from the influx of solar energy.
Karel Kral, CEO of energy group Electrohold, echoed Zarchev's sentiments, advocating for grid modernization through the introduction of flexible tariffs to incentivize consumption during periods of abundant sunlight. Kral emphasized the importance of adapting the grid infrastructure to accommodate the increasing penetration of solar energy.
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Ivan Ivanov, chairman of Bulgaria's Energy and Water Regulatory Commission, highlighted the pivotal role of tariffs as a tool for grid management. However, he emphasized that substantial investments in power grid development will largely hinge on funding from the European Union (EU). Ivanov also underscored the successful elimination of administrative barriers to connecting new power plants, streamlining the process for renewable energy integration in Bulgaria.
