The solar power business has been positively thriving in one of Europe's poorest countries. With great incentives for solar investment, Bulgaria attracted clean energy investors from the United States, Russia, Germany, Japan, and Italy. Huge solar "parks" have been built to harness the energy of the sun and use it to power homes and businesses in Bulgaria and beyond.
But now, Bulgaria's State Energy and Water Regulatory Commission wants to cut solar incentives by an average of 30%. Solar advocates say that will effectively kill the growth of what is arguably Bulgaria's most booming enterprise. Nikola Gazdov, who chairs Bulgaria's Photovoltaic Association told Reuters that "The new plans will kill the solar energy business in Bulgaria because, at the new tariff level, it does not make sense to invest."
It's true that solar manufacturers and providers need to figure out a way to keep renewable energy from being a hardship to consumers. But taking away national incentives is not the way to keep Bulgaria's economy flourishing. Tell the National Assembly of Bulgaria not to kill its solar industry by cutting incentives!
We the undersigned believe in solar power. The perils of climate change have made it imperative to invest in clean, renewable energy.
We applaud the initial brave efforts Bulgaria made in supporting the solar industry and attracting serious investors. Your country's many solar parks speak for the success of your incentives program. You should not give up faith in renewable energy because of a short-term spike in consumer costs. As solar energy grows, those costs will even out. In the long run, solar is the right investment.
We beg you not to withdraw your incentives for solar business and investment!