IRENA-可再生能源的融资成本（英）-2023.5-26页_3mb

Analysis of "The Cost of Financing for Renewable Power" Report by IRENA (2023)

Key Objectives and Scope

The report addresses the critical need for reliable and differentiated data on the cost of capital (CoC) for renewable energy technologies, which influences renewable power deployment and policy decisions. It uses a three-pronged approach combining a benchmark tool, expert survey, and interviews to analyze CoC across 45 countries for solar PV, onshore wind, and offshore wind.

Major Findings

• Variations in CoC: CoC ranges widely (1.1%–12.2% in nominal terms), with mature markets (e.g., Western Europe and North America) showing lower rates than emerging economies (e.g., Middle East/Africa and Latin America). Factors include country risk premiums, technology maturity, and project specifics.
• Drivers and Context: Key drivers include macroeconomic conditions, merchant exposure, offtake mechanisms (e.g., PPAs), and policy support. Interviews highlight that CoC depends on regional finance experiences and risk profiles.
• Future Trends: Experts anticipate slight declines in CoC by 2025, with significant reductions expected for specific technologies (e.g., offshore wind in Asia-Pacific and solar PV in Europe/MEA), but variations depend on regional stability and support schemes.
• Assessment of Methodology: The benchmark tool provides reasonable CoC estimates but tends to overestimate values compared to survey data, emphasizing the need for calibrated expert inputs and regular data updates.

Implications for Stakeholders

• Policymakers and energy models can use these differentiated CoC data to recalibrate renewable energy cost estimates and design targeted support mechanisms.
• Future efforts are needed to expand data collection, particularly in smaller markets, and track evolving financing drivers to avoid misrepresentation of CoC.

Report Summary

IRENA's analysis underscores CoC as a major determinant of renewable energy costs, providing critical insights for improved policy and investment decisions through a robust data collection approach.