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Cost-effectiveness analysis of long-life investments on example of Polish wind power plants

Date added: 2015-01-02
Type: Article

Author / authors

Jakub Woźniak

Jakub Woźniak

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Grażyna Paulina Wójcik

Grażyna Paulina Wójcik

Agricultural sciences

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Abstract

The authors present criteria availed in taking investment decisions in wind energy investments. Macroeconomic aspects of Poland wind energy sector/industry have also been described. The article is based on numerous press and scientific articles, as well as reports. Due to the fact that investments related to construction of a wind farm are characterized by a long payback period, the authors recommend discount methods as the best method of profitability assessment. The authors suggest using the concept of weighted average cost of capital to determine the discount rate. They recommend a sensitivity analysis and value at risk to assess the impact of changes in prices of certificates of origin prices on productivity of wind farms.

Keywords / Tags

Key words: wind energy, investment profitability, discount methods, criterion of profitability

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