行业报告IRENA可再生能源的融资成本英20235_市场营销策划_重点报告202305.docx

1RENAMe*n>niRene*vabteEnewAoencvThecostoffinancingforrenewab1epower©IRENA2023Un1essotherwisestated,materia1inthispub1icationmaybefree1yusedzshared,copied,reproduced,printedand/orstored,providedthatappropriateacknow1edgementisgivenofIRENAasthesourceandcopyrightho1der.Materia1inthispub1icationthatisattributedtothirdpartiesmaybesubjecttoseparatetermsofuseandrestrictions,andappropriatepermissionsfromthesethirdpartiesmayneedtobesecuredbeforeanyuseofsuchmateria1.ISBN:978-92-9260-530-8Citation：IRENA(2023)zThecostoffinancingforrenewab1epower,Internationa1Renewab1eEnergyAgency,AbuDhabi.AboutIRENATheInternationa1Renewab1eEnergyAgency(IRENA)servesastheprincipa1p1atformforinternationa1co-operation,acentreofexce11ence,arepositoryofpo1icy,techno1ogy,resourceandfinancia1know1edge,andadriverofactiononthegroundtoadvancethetransformationoftheg1oba1energysystem.Ag1oba1intergovernmenta1organisationestab1ishedin2011zIRENApromotesthewidespreadadoptionandsustainab1euseofa11formsofrenewab1eenergy,inc1udingbioenergy,geotherma1,hydropower,ocean,so1arandwindenergy,inthepursuitofsustainab1edeve1opment,energyaccess,energysecurity,and1ow-carboneconomicgrowthandprosperity.Acknow1edgmentsThisreportwasauthoredbyMichae1Tay1or(IRENA),Phi1ippBeiter(Aqui1oEnergyGmbH)andF1orianEg1i(ETHZurich).Semi-structuredinterviewswereconductedbytheauthors,Vasi1iosAnato1itiszBarbaraBreitschopf,MakDukanzJoshuaFragosoGarciazMatthiasJochumzSinghMahendraand1inZheng.Theprojectpartnerswou1d1iketoextendtheirsinceregratitudetoa11thecompaniesandindividua1sthatcontributedtothisstudybyprovidingtheirva1uab1einsightsattheWorkshopin2019zthroughtheon1inesurveyandininterviews.Aspecia1thankstoGerryBurbridge(MainstreamRenewab1ePower)forhiscontinuoussupporttotheprojectpartnersonfinancingessentia1s,surveyprioritiesanddesign.IRENAwou1da1so1iketothanktheIEAWindTask53fortheirassistance,aswe11astheGermanFedera1MinistryforEconomicAffairsandEnergyforsupportingthisproject.Forfurtherinformationortoprovidefeedback:pub1icationsirena.orgDisc1aimerThispub1icationandthemateria1hereinareprovided''asis”.A11reasonab1eprecautionshavebeentakenbyIRENAtoverifythere1iabi1ityofthemateria1inthispub1ication.However,neitherIRENAnoranyofitsofficia1s,agents,dataorotherthird-partycontentprovidersprovidesawarrantyofanykind,eitherexpressedorimp1ied,andtheyacceptnoresponsibi1ityor1iabi1ityforanyconsequenceofuseofthepub1icationormateria1herein.Theinformationcontainedhereindoesnotnecessari1yrepresenttheviewsofa11MembersofIRENA.Thementionofspecificcompaniesorcertainprojectsorproductsdoesnotimp1ythattheyareendorsedorrecommendedbyIRENAinpreferencetoothersofasimi1arnaturethatarenotmentioned.Thedesignationsemp1oyedandthepresentationofmateria1hereindonotimp1ytheexpressionofanyopiniononthepartofIRENAconcerningthe1ega1statusofanyregion,country,territory,cityorareaorofitsauthorities,orconcerningthede1imitationoffrontiersorboundaries.CONTENTSKEYINSIGHTS4INTRODUCTION6RESU1TSFORTHECOSTOFCAPITA1OFSO1ARPV,ONSHOREANDOFFSHOREWIND8Understandingthecontextua1factorsunder1yingthecostofcapita19Renewab1epowergenerationcostofcapita110ExpectedtrendsintheCoCto202513Comparingbenchmarkva1uestosurveydata16Insightsfromtheinterviews18APPROACHANDMETHODO1OGY19REFERENCES22ANNEXI:BENCHMARKTOO1METHODO1OGY23KeyinsightsThecostofcapita1(CoC)forrenewab1esmatters.TheCoCisamajordeterminantofthetota1pricetopurchasersofe1ectricityfromrenewab1epowergenerationtechno1ogies.IfassumptionsusedfortheCoCarenotaccurate-overtimezbetweencountriesortechno1ogies-thenthecostofe1ectricitymightbesignificant1ymisrepresentedandresu1tinpoorpo1icymaking.Acomprehensivedatabaseonrenewab1eenergyfinancing.ThisIRENAreportpresentsnewCoCdatazobtainedfromanexpertsurveyandinterviewscoveringa11majorwor1dregionsforonshorewind,offshorewindandso1arphotovo1taic(PV).Thecoverageofthissurvey-bothintermsofgeographyandtechno1ogy-isbe1ievedtobeamongthemostwide-rangingofanyexistingdatabaseonrenewab1eenergyfinancing.Materia1differencesexistintheCoCacrosscountriesandtechno1ogies.TheweightedaverageCoCobtainedthroughasurveyofexpertsin45countriesvariedfromas1itt1eas1.1%(onshorewindinGermany)toabove10%(so1arPVinUkraine),a11innomina1terms,fortheperiod2019-2023.Theregiona1averageCoCinmaturemarketsacrossthethreerenewab1eenergytechno1ogiesconsidered(4.4%inEuropeand5.4%inNorthAmerica)is1ower-sometimesconsiderab1y1ower-thaninemergingmarkets,forinstance,intheAsia-Pacificregion(5.6%)or1atinAmerica(6.9%).RatesintheMidd1eEastandAfricaarethehighest,at8.2%onaverage.Ingenera1,acrossregions,theCoCfortherenewab1escoveredinthisreportis200-300basispointsabovethecountryrisk.1Thereisnosing1eva1uefortheCoCwithinamarketforagiventechno1ogy.Thesurveyresu1tsrevea1edthatinindividua1marketstheCoCforagiventechno1ogyvaried,sometimessignificant1y,acrossrespondents.Forso1arPVinSpain,forinstance,theCoCrangedfrom36%be1owto72%abovetheaverage,whi1eforIta1ytherangewasfrom43%be1owto44%above.TheCoCdependsonthedeve1oper,offtakearrangementsandotherpr