The Ministry of Innovation and Growth launched a program to finance micro, small and medium-sized enterprises to install new systems for generating electricity from renewable sources. The measure is entirely aimed at renewable energy sources and consists of the construction of photovoltaic plants for own consumption up to 1 MW, with necessarily included batteries for storage of the produced capacities. The total budget allocated under this program is EUR 200 million Bulgarian leva.
EU funding for photovoltaic systems
Program for construction of new RES for own consumption for business
Who can apply for the program?
Eligible applicants will be all SMEs from all sectors that meet the following requirements:
- Industrial enterprises in sectors B, C, E, and F
- Companies from the Service area in sectors G, H, I, J, L, M, N, P, Q, R и S
- Companies registered no later than 31.12.2019
- Have generated net sales revenue for the 2021 financial year:
1. for micro-enterprises over 80 thousand Lv.;
2. for small businesses over 200 thousand Lv.;
3. for medium-sized enterprises over 800 thousand Lv.;
4. a small mid-caps or a mid-caps of more than EUR 3 million. leva - The investment to serve the main economic activity of the applicant.
In order to apply, companies must have a preliminary conceptual project or a technical/detailed design project prepared by a person with a relevant technical capacity and entered in the relevant register of the Chamber of Engineers in Investment Design
What is the grant rate?
Depending on the category of the applicant company and whether its activity is inside or is outside the South-west region, the grant rate is from 35% to 50%.
For example: A medium-sized enterprise can receive up to 45% of the cost of the project if it is located in the South-West region of Bulgaria, and up to 50% if it is in another region of the country.
What is the amount of the grant?
The minimum grant amount is 75 thousand Bulgarian leva. And the maximum size is related to the turnover of the applicant company and the category of the enterprise.
The maximum amount they can receive free of charge is up to 1m euros. But not more than: for micro, small, medium-sized enterprises, or small mid-caps and mid-caps, respectively 90%, 60% and 25%, 10% of the realized average annual net sales revenue for the three-year period 2019, 2020 and 2021.
How long can I apply?
Companies that want to take advantage of the program to alleviate electricity costs by building a renewable energy solar installation can submit documents until 16:30 on May 15, 2023.
Contact us for assistance
You have questions about the financing of your project, please contact the experts from Elsol.
Program for the construction of photovoltaic systems for households
Households that are heated by solid fuel (wood, coal, pellets) and are on stoves, fireplaces or boilers will be able to benefit from grants to replace them with photovoltaic systems (PV). Two ways will be applied for – for already installed solar installations after June 7, 2022 and for those to be built.
For solar installations, a building solution is NOT required, they can be installed only with notification to the municipality on the principle of tacit consent.
What does the program fund and what is the maximum grant amount?
The household program includes funding in two directions – construction of solar systems for domestic hot water supply and photovoltaic installations up to 10 kWp with systems for storing the electricity produced.
The maximum amount of the grant for photovoltaic installations for domestic hot water supply is up to 100% of the cost of the installation, but not more than BGN 1960.83, and up to 70% of the value of a solar system up to 10kWp, but not more than BGN 15,000. The second measure also provides for the possibility of purchasing batteries for the accumulation of electricity produced.
What are the requirements for applicants for household funding?
All individuals – Bulgarian citizens and foreigners with permanent resident status in Bulgaria, who live in their own single-family house or own apartment in a multi-family building, can apply for the program. They must be the owners of the property and it must be declared as the main one. The dwelling for which funding is requested must have used electricity for at least 6 months before the solar installation is delivered or put into operation. There should be no local taxes.
If applicants for funding live in a dwelling in a multi-family building, they must provide a copy of a decision of the Common Consent of the Owners, in which 67% of the shareholders agree with the investment.