Investing in photovoltaics: risk, accounting and the value of new technology

摘要: Abstract In Europe and the US, national energy planning agencies value resource alternatives using outmoded techniques, conceived around time of Model-T Ford. These models, long since discarded in manufacturing other industries, bias favor riskier fossil while understating true photovoltaics (PV) similar low-risk, passive, capital-intensive technologies. PV renewables offer a unique cost-risk menu along with valuable attributes that traditional valuation before such became technologically feasible, cannot “see” because they are steeped vocabulary measurement concepts different technological era. Properly understood exploited, could undoubtedly form basis for reengineering electricity production delivery process to deliver cost reductions ways can yet not be imagined. Lenders investors likewise do fully understand financial properties as differentiated from alternatives. Policy makers have responsibility broaden analytic horizons include new models more properly reflect PV.