Keywords : European Union

Energy Dependence of the Solar Business of the European Union and Bulgaria

Noncho Dimitrov

Marketing and Branding Research, 2018, Volume 5, Issue 3, Pages 184-189
DOI: 10.33844/mbr.2018.60374

The energy dependence of the European Union (EU) is a huge concern for the Member States. It`s mostly connected to the increasing dependence on imported energy resources. The ability of the EU to meet the energy needs is very limited. Dependency on imported resources is expected to reach 70% in 2020 and dependence on oil - 90%. Europe`s dependence on imported oil will increase drastically. Almost 100% is the Bulgarian dependence on imports of Russian natural gas and oil. The solar business has a great importance for the future of the entire energy sector. Its investigations will allow us to find the potential opportunities and possible threats of its development and will help us to develop its potential. There are many challenges in front of its development connected with legal frameworks, corporate interests and public pressure. Therefore, a successful adaptation is required to the high requirements of regulators and competitive alternative energy source.