Multivariate analysis of solar city economics: impact of energy prices, policy, finance, and cost on urban photovoltaic power plant implementation

摘要

Previous research suggests that the potential for city-scale photovoltaic (PV)rnapplications is substantial across the globe. Successful implementation of ‘solarrncity’ options will depend on the strategic application of finance mechanisms,rnsolar energy soft cost policies, and other policy tools, as well as the grid price ofrnelectricity. Capital markets recently have embraced the roll-out of new financialrninstruments, including ‘green bonds,’ which could be incorporated into solar cityrnproject design to attract large investments at a low cost. A multivariate analysisrnmethod is employed to consider solar city possibilities for six cities: Amsterdam,rnLondon, Munich, New York, Seoul, and Tokyo. A Monte Carlo simulation is conductedrnto capture the probabilistic nature of uncertainties in the parameters andrntheir relative importance to the financial viability of a solar city project. The analysisrnfinds that solar city implementation strategies can be practical under a broadrnrange of circumstances.