Financial efficiency analysis of PV plants in Poland under the evolving support scheme

Abstract

Financial efficiency analysis of PV plants with a capacity of 1 MWp is presented in the paper, taking into account two RES-E support schemes, which have been implemented in Poland. The aim of the paper is to analyze how the RES-E support mechanisms for Poland impact the actual investor's financial results. The compared RES-E support mechanisms are the following: the auction
system (an option of a feed-in-tariff scheme) implemented recently in Poland and the 'green certificates' system, which has been in operation for over a decade now. Financial efficiency analysis method with the sensitivity analysis is implemented to determine the conditions for the most financially effective PV investments. The results show the crucial factors of financial efficiency of the PV farms, which are also discussed in view of the conducted sensitivity analysis, which takes into account changes in the analyzed parameters. The study explores the current policies influencing the conditions of investments in PV plants in Poland providing information for policy makers, investors and researchers interested in the solar energy domain.