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The impact of policy elements on the financing costs of RE investment - the case of wind power in Germany

: Giebel, O.; Breitschopf, B.

Karlsruhe: Fraunhofer ISI, 2011, 33 S.
Working Paper Sustainability and Innovation, S11/2011
Fraunhofer ISI ()

Renewable energy support mechanisms affect the attractiveness of projects by influencing uncertainties in revenues or expenditures and ultimately result in a change in the financing costs. The influence of feed-in-tariffs on financing costs was investigated. 26 wind onshore investors were surveyed in a conjoint analysis and the results were used in a cash flow model to quantify the impact. The introduction of premium models under a fixed remuneration tariff scheme seems to increase the financing costs considerably.