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Olaf Gembarzewski, Katarzyna Wróbel
Politechnika Lubelska

Abstract
Bulgaria is a country with good sunshine conditions, which makes it an attractive place for investments connected with solar energy. Therefore, Bulgaria became a leader amongst the European Countries in photovoltaics development. However, the current legal situation in Bulgaria concerning Renewable Energy Sources has changed dramatically, which is connected with growing financial burden rhat investors must bear. This has significant impact on the economic efficiency of remaining photovoltaic farms. A detailed analysis of five photovoltaic farms located in different parts of Bulgaria was conducted. The farms were built between May and August 2012. Taking into account that building a PV farm is a one-time investment, the economic efficiency is determined mainly by the price of power sold to the distribution network. In the long run, the overhead and maintenance costs become irrelevant, as the profitability depends on the feed-in-tariff rates, as well as the geographical and climatic conditions.

Słowa kluczowe
farma PV, panele fotowoltaiczne, efektywność ekonomiczna

Comparison of Investment Efficiency of Selected PV Farms in Bulgaria

Key words 
PV farm, photovoltaic cells, economic efficiency

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