Usability of renewable energy in Bulgaria - challenges, opportunities and barriers

Trakia University, Faculty of economics, Stara Zagora, Bulgaria

^* Corresponding author: nedelin.markov@trakia-uni.bg

Abstract

Energy is a resource that both drives the world economy, but also sustains the existence of individuals. Energy is a strategic good that provides advantages for some and disadvantages for others. Traditional energy sources are not evenly distributed, and this is a challenge for politicians and economists to meet the ever-increasing energy demand. Renewable energy sources bridge the gap between traditional understandings of growth and modern demands for environmental protection. They are a compromise between the past and the future. The purpose of the report is to synthesize the possibilities and limitations of the use of renewable energy in Bulgaria. The research used empirical methods such as analysis and survey. The results, as expected, confirm that in our country there are unused opportunities for the development of energy production from renewable sources. The conclusions show that the poorly regulated electricity market, regulatory restrictions, and the low incomes of Bulgarians are a deterrent to the more intensive use of renewable energy.