| Abstract [eng] |
The development of renewable energy technologies always needs investments to reduce the levelized cost of energy (LCOE). Alternative financing measures based on classical financing measures can be key reasons for reducing LCOE of renewable energy technologies. Considering the constant increase in energy demand, which contributes to deforestation, global warming, increasing emissions of toxins into the atmosphere for these reasons, it is very important to find financing alternatives for renewable energy technology projects. According to IRENA (International Renewable Energy Agency), funding for solar and wind power plants are the largest among all renewable source. The object of this study – the financing measures for the installation of solar and wind power plants, application of which would reduce the costs of electricity generation. The aim of the Master's degree final project is to conduct a study of alternative financing tools for renewable energy. The main tasks of the research: 1) to analyze the financing measures currently applied to renewable energy technologies and alternative financing measures that could be applied or are currently being introduced, but their use has not yet been developed; 2) to compare the advantages and disadvantages of classical and alternative financing measures; 3) to analyze the financing risk of renewable energy technology development projects; 4) to analyze the methodology of impact assessment of different financing measures; 5) to carry out a study of the possibilities of applying alternative financing measures for renewable energy technologies, assessing their impact on the weighted costs of electricity generation. The results of this study are achievable using comparative analysis of scientific literature, methods of project economic efficiency assessment, analysis of the average cost of capital, analysis of the levelized cost of energy and assessment of the feasibility of financing measures. In order to research the measures for the installation of solar and wind power plants, a calculated analysis are carried out and the results obtained are presented graphically. The results of this study shows that the most effective alternative financing measures that reduce the costs of electricity generation the most for the analyzed renewable energy technologies (4 MW onshore wind farm, 100 MW offshore wind farm, 11 kW rooftop PV system and 2,2 MW ground-mounted PV system) are investment subsidies and soft loans. The most unsuitable alternative financing instrument would be venture capital funds. |
