Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2018.03.014 |
Sale of profitable but unaffordable PV plants in Spain: Analysis of a real case | |
Lomas, J. C.1; Munoz-Ceron, E.2,4; Nofuentes, G.3,4; de la Casa, J.3,4 | |
2018-06-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2018 |
卷号 | 117页码:279-294 |
文章类型 | Article |
语种 | 英语 |
国家 | Spain |
英文摘要 | The Spanish photovoltaic industry was stunningly successful during 2007-2010, fostered by a favourable feed-in tariff system. Nevertheless, the cost overrun of this promotion policy led to government legislation against existing PV plants. Although these investments will be profitable when the subsidy ends, according to the last law enacted in Spain (IRR = 7.4%), either a massive sale to vulture funds or the abandonment of PV plants is being planned. Owners are unable to cover the loans through which they were originally financed. In this scenario, investors find it more profitable to cancel all operational expenditures and allocate this working capital to cover their loans, although this measure implies a 22% energy reduction. This study analyses a representative Spanish PV plant based on real energy and economic data. The analysis shows the turn from an attractive IRR = 10.14% to a situation with limitations where the owner injects money annually to overcome potential bankruptcy of the investment. This paper reflects the influence of promotion policies in the profitability of PV plants. Additionally, the adverse legal framework in Spain identifies a profitable but unaffordable scenario, highlighting the differences between the economic and financial performance of a PV investment. |
英文关键词 | Performance Grid-connected PV system Promotion policy Profitability Feasibility Liquid asset |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000431932600028 |
WOS关键词 | SOLAR PV ; PHOTOVOLTAIC SYSTEMS ; REGULATORY FRAMEWORK ; PERFORMANCE ANALYSIS ; ECONOMIC-ANALYSIS ; RENEWABLE ENERGY ; ELECTRICITY ; SUPPORT ; POLICY ; COST |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/19246 |
专题 | 气候变化 |
作者单位 | 1.Ger Ingn SL, Cl San Anton 72,5th Floor,Off 18, Granada 18005, Spain; 2.Univ Jaen, IDEA Res Grp Res & Dev Solar Energy, Dept Graph Engn Design & Project, Campus Lagunillas S-N,Bldg A3,Off 212, Jaen 23071, Spain; 3.Univ Jaen, IDEA Res Grp Res & Dev Solar Energy, Elect & Automat Engn Dept, Jaen, Spain; 4.Univ Jaen, Ctr Adv Studies Energy & Environm CEAEMA, Jaen, Spain |
推荐引用方式 GB/T 7714 | Lomas, J. C.,Munoz-Ceron, E.,Nofuentes, G.,et al. Sale of profitable but unaffordable PV plants in Spain: Analysis of a real case[J]. ENERGY POLICY,2018,117:279-294. |
APA | Lomas, J. C.,Munoz-Ceron, E.,Nofuentes, G.,&de la Casa, J..(2018).Sale of profitable but unaffordable PV plants in Spain: Analysis of a real case.ENERGY POLICY,117,279-294. |
MLA | Lomas, J. C.,et al."Sale of profitable but unaffordable PV plants in Spain: Analysis of a real case".ENERGY POLICY 117(2018):279-294. |
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