Comparative analysis of different supporting measures for the production of electrical energy by solar PV and Wind systems: Four representative European cases

In the 9th of March 2007, the European Council decided a fixing goal of 20% contribution of the renewable energy sources (RES) on the total European electric energy production in 2020. In order to reach such ail ambitious goal, all the European countries are adopting different support policies for encouraging the installations of RES-based generation systems. In this paper, after a brief review on the main support policies for RES in Europe, the specific situations of four representative countries (France, Germany, Italy and Spain) are examined, with the purpose of putting into evidence the main differences in the support policies adopted for Photovoltaic (PV) and Wind systems. In particular, a comparison based on the calculation of the pay-back-period (PBP). the net present value (NPV) and the internal rate of return (IRR), for different sized PV and Wind systems, shows that in some situations a support policy can be not convenient for the owner of the RES-based generation system and that, in many cases, the differences between the way of implementation of the same support policy in different countries, can give place to significantly different results. (c) 2008 Elsevier Ltd. All rights reserved.