Impact of energy policy changes on RES investments

Abstract

Recent changes in the Greek legislation concerning the production of electricity from Renewable Energy Sources (RES) has accordingly changed the investment terms of RES investments. Therefore, the impact of these changes both on the Greek electricity market and on the RES projects is important to be examined. More specifically, the RES production units were separated with the criteria of the renewable energy source type that they use, their installed capacity and the region in which they are located. It was considered useful to determine the number of the parks per renewable energy source type, per installed capacity level and per region and to examine the number of the parks whose contract is going to be out of force in the next years. Taking into account the above separation, and in order to find out the consequences of legislation's changes, some representative samples were selected and the Pay-Back Period, the Net Present Value (NPV) and the Internal Rate of Return (IRR) of Wind Parks (WP) and Photovoltaic Parks (PV) were calculated.Recent changes in the Greek legislation concerning the production of electricity from Renewable Energy Sources (RES) has accordingly changed the investment terms of RES investments. Therefore, the impact of these changes both on the Greek electricity market and on the RES projects is important to be examined. More specifically, the RES production units were separated with the criteria of the renewable energy source type that they use, their installed capacity and the region in which they are located. It was considered useful to determine the number of the parks per renewable energy source type, per installed capacity level and per region and to examine the number of the parks whose contract is going to be out of force in the next years. Taking into account the above separation, and in order to find out the consequences of legislation's changes, some representative samples were selected and the Pay-Back Period, the Net Present Value (NPV) and the Internal Rate of Return (IRR) of Wind Parks (WP) and Photovo...