site.btaPrice of Solar Energy Has Dropped by 68%, Says Former Energy Minister Traikov

The price of solar energy has dropped by 68%, but this would have been the case even without European businesses making the sacrifices they did, said former Minister of Energy Traicho Traikov during the Green Transition Forum 6.0 on Wednesday. The forum is taking place at Sofia Event Center and is organized by Dir.bg. BTA is among the media partners of the forum.

According to Traikov, the development of the energy grid lags behind industrial technologies in Bulgaria. He pointed out that in the next 15 years much of the grid must be replaced, and there is much to be done regarding its expansion, so that it meets the needs of the industry.

During the panel “Low-Carbon Industrial Transformation: Greening Supply Chains to Secure Europe’s Competitiveness”, Anthony Agotha, European Union (EU) Special Envoy for Climate and Environment at the European External Action Service, pointed out that for the fourth year in a row, bankers have made more money from green energy than from fossil fuels. USD 1 trillion is invested in fossil fuels, but USD 2 trillion is invested in renewables, Agotha explained.

Marius Koeppen, senior analyst for the Energy and Climate Program at the Center for the Study of Democracy, noted that oil and coal are used only in some of the energy-intensive sectors, while electricity and natural gas are used more in other sectors of industry.