Analysis of Investments in RES Based on the Example of Photovoltaic Panels in Conditions of Uncertainty and Risk—A Case Study

Anna Wojewnik-Filipkowska (), Paweł Filipkowski and Olaf Frąckowiak
Additional contact information
Anna Wojewnik-Filipkowska: Department of Investment and Real Estate, Faculty of Management, University of Gdańsk, Armii Krajowej 101, 81-824 Sopot, Poland
Paweł Filipkowski: Department of Food Chemistry, Technology and Biotechnology, Faculty of Chemistry, Gdańsk University of Technology, Gabriela Narutowicza 11/12, 80-233 Gdańsk, Poland
Olaf Frąckowiak: Department of Investment and Real Estate, Faculty of Management, University of Gdańsk, Armii Krajowej 101, 81-824 Sopot, Poland

Energies, 2023, vol. 16, issue 7, 1-15

Abstract: The aim of this study is to examine the profitability of investment in a photovoltaic microinstallation, to analyze the impact of legal changes on its profitability, and to perform a sensitivity analysis of the investment profitability to energy price changes. The novelty of the research applies to the financial analysis of two legal systems of discount called net-metering and net-billing. The two systems and the change in energy prices present legal and macroeconomic risks. Climate neutrality strategy implementation is the analysis background. The authors formulate the hypothesis that, firstly, the solar panel installations in Poland are aimed at reducing the operating costs of the building; secondly, the investment motivation is environmental. The main research conclusion is that taking into consideration the solar panel ‘boom’ in Poland, the ‘regulator’ has achieved its intended goal connected with progress toward climate neutrality. This research used the method of logical design, experiment, and comparative analysis. The tools applied to calculate project profitability included the internal rate of return (IRR) and net present value (NPV). The case study method has been applied. The analysis uses real-world assumptions and is conducted for weather conditions in Gdańsk, Poland.

Keywords: sustainable development; investment profitability; climate neutrality; photovoltaic panels (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://www.mdpi.com/1996-1073/16/7/3006/pdf (application/pdf)
https://www.mdpi.com/1996-1073/16/7/3006/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:16:y:2023:i:7:p:3006-:d:1107139

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().