The evolution of the PV industry has represented one of the main focus points of economic and political debates and research of the last ten years in Europe. However, these discussions have only presented general aspects of the industry development and accomplishments with little information about the companies’ actual practices. The present study aims to inquire the PV field in Romania further, by researching the currently implemented and the future business models of firms producing solar energy. Using the Delphi method based on questionnaires and interviews with experts of this field, this paper shows the key elements of business models in the PV field that reflect the companies’ practices and future trends and expectations regarding the internal activity of the firm and the environmental changes from the external environment of the company, which influence the directions of the PV domain. The relevance of this study is based on the importance of the applied PV business model elements in order to ensure the survival and expansion of the company in a dynamic field that faces continuous legal, economic and technological changes and challenges. The results of this study have some directions that could be applied in most of the European countries where the PV industry is developing.