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Investor-Specific Cost of Capital and Renewable Energy Investment Decisions

In: RENEWABLE ENERGY FINANCE Powering the Future

Author

Listed:
  • Thorsten Helms
  • Sarah Salm
  • Rolf Wüstenhagen

Abstract

The following sections are included:IntroductionConceptual ModelThe Cost of Capital in Valuation Methods and its DeterminantsCost of Capital Levels for Three Different Investor GroupsComparison of Investment Profiles of Renewable and Fossil Energy ProjectsDCF and Cost-Based Valuation and How Capital Costs Impact the OutcomeConclusion: Renewable Energy Investment Decisions as a Function of Cost of CapitalReferences

Suggested Citation

  • Thorsten Helms & Sarah Salm & Rolf Wüstenhagen, 2015. "Investor-Specific Cost of Capital and Renewable Energy Investment Decisions," World Scientific Book Chapters, in: Charles W Donovan (ed.), RENEWABLE ENERGY FINANCE Powering the Future, chapter 4, pages 77-101, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781783267774_0004
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    Citations

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    Cited by:

    1. Hickey, Conor & O'Brien, John & Caldecott, Ben & McInerney, Celine & Ó Gallachóir, Brian, 2021. "Can European electric utilities manage asset impairments arising from net zero carbon targets?," Journal of Corporate Finance, Elsevier, vol. 70(C).
    2. Krupa, Joel & Harvey, L.D. Danny, 2017. "Renewable electricity finance in the United States: A state-of-the-art review," Energy, Elsevier, vol. 135(C), pages 913-929.
    3. Đukan, Mak & Kitzing, Lena, 2021. "The impact of auctions on financing conditions and cost of capital for wind energy projects," Energy Policy, Elsevier, vol. 152(C).
    4. Li, Pei-Hao & Barazza, Elsa & Strachan, Neil, 2022. "The influences of non-optimal investments on the scale-up of smart local energy systems in the UK electricity market," Energy Policy, Elsevier, vol. 170(C).
    5. Alexander-Haw, Abigail & Breitschopf, Barbara, 2024. "How to design an auction: The impact of auction implementation elements on the financing costs of renewable electricity projects," Energy Policy, Elsevier, vol. 188(C).
    6. Neuhoff, Karsten & May, Nils & Richstein, Jörn C., 2022. "Financing renewables in the age of falling technology costs," Resource and Energy Economics, Elsevier, vol. 70(C).
    7. Hu, Jing & Harmsen, Robert & Crijns-Graus, Wina & Worrell, Ernst, 2018. "Barriers to investment in utility-scale variable renewable electricity (VRE) generation projects," Renewable Energy, Elsevier, vol. 121(C), pages 730-744.
    8. Krupa, Joel & Poudineh, Rahmatallah & Harvey, L.D. Danny, 2019. "Renewable electricity finance in the resource-rich countries of the Middle East and North Africa: A case study on the Gulf Cooperation Council," Energy, Elsevier, vol. 166(C), pages 1047-1062.

    More about this item

    Keywords

    Renewable Energy; Clean Energy Finance; Solar Energy Financing;
    All these keywords.

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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