Investeringsincitament i svenska storskaliga solcellsparker

Abstract

With an untenable use of fossil fuels today, it is evident that an increase in investment is required within renewable energy. Investments in solar farms have increased in Sweden in accordance with global- and national goals towards an energy transition. Market shares, measured by extracted electricity from solar power in Sweden, is very small in relation to other renewable energy resources. This particular study therefore aims to analyze the incentives that are a fundamental element for investment decisions in large-scale solar farms connected to the grid, how the solar farms are financed and barriers that may exists. Delimitations has been made to study Swedish large-scaled solar farms with an intent to sell the extracted electricity. Previous studies within the field argue that more investment are required in solar farms, that incentives other than profitability must be the foundation for investment decisions. As more financiers are required, the government support systems and the current national environmental policy has an impact on the attractiveness of investments for financiers. The empirical collection of the study was conducted through both telephone- and email interviews with eight Swedish solar farms. Empirical findings show that there are notable incentives other than profitability when investing in solar farms and how investments are primarily aimed to contribute to energy conversion. Incentives for investments are about contributing to a sustainable society in terms of reduced carbon dioxide emissions rather than economic profitability. The conclusion of the study is that investment in solar farms is a collective contribution to a sustainable energy conversion that does not focus on profitability. An environmental policy with contributory support systems is important for investors as it is difficult to achieve profitability in a solar farm despite existing support systems. Changes in macroeconomic factors results in uncertainty of how long renewable energy support systems will be provided to solar farms. Investments are made with an optimistic view of the future, based on rising electricity prices that may result in future profitability. Sales of shares in solar farms are an interesting business model to achieve profitability that may attract more investors. More investments in solar farms would contribute to the energy conversion, thus accelerating the decommissioning of fossil fuels.