Switching from acquisition of energy to production of energy is an investment with costs (e. leasing annual payment, O&M costs, capital expenditure) and benefits (e. savings in the electric bill, sale of the energy exceeding consumptions). . The largest need for capital is for construction of utility-scale solar 40 tubes, mirrors, etc. ), as well as transmission expansion. While the Solar Vision study. . PV financial models are used by project developers, banks and asset managers to evaluate the profitability of a PV project. The objective of this work is to present an overview of current practices for financial modelling of PV investments and to review them in view of technical and financial risks. . The valuation of solar energy projects is a complex subject and is a source of tension between regulators, developers and debt and equity investors. The cost of solar power has dropped sharply, positioning the U. Capacity factor is estimated for. . Grupo de Investigación en Finanzas y Sostenibilidad, Departamento de Economía, Facultad de Ciencias Humanas y Económicas, Universidad Nacional de Colombia, Sede Medellín, Medellín 050034, Colombia Departamento de Ingeniería de la Organización, Facultad de Minas, Universidad Nacional de Colombia. .
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