基于绿证交易的PPP光伏发电项目的投资评估

Investment evaluation of PPP photovoltaic power generation based on green certificate transactions

中文关键词: 光伏发电  公私合营  绿色电力证书  平价上网  投资评估

英文关键词: photovoltaic power generation  public ⁃ private partnership  green certificate  grid parity  investment evaluation

中文摘要:

      光伏发电项目能降低一次能源的污染，符合我国电 力需求侧管理要求。为解决光伏发电项目在发展过程中出现 的资金问题，采用公私合营融资模式即PPP。研究平价上网 政策下，PPP光伏发电项目考虑绿证交易的投资评估。首先， 构建平价上网政策下的绿证价格模型，包括绿证的成本模型 和绿证交易定价区间。然后，结合PPP不同融资模式的特点， 根据项目效益模型提出了基于绿证交易的PPP光伏发电项目 的投资评估方法。最后，通过案例分析，表明融资模式的选择 对企业投资决策有极大的影响，绿证交易市场可使企业在平 价上网的政策下做出立即投资的决策，从而促进光伏产业的 发展。此外，提出了政府在绿证交易方面的政策建议。

英文摘要:

      Photovoltaic（PV）power generation can reduce the pollution of primary energy, meeting the demand of power demand side management in China. To solve financing problem in development of PV industry, public -private partnership（PPP）is adopted. Considering tradable green certificate market, investment evaluation of PPP PV power generation project under grid parity policy is analyzed. Firstly, cost model and price range of tradable green certificate under grid parity policy are constructed. Then, combined with characteristics of different PPP financing model, according to benefit model of project, an investment evaluation method for PPP PV power generation projects based on tradable green certificate market is proposed. Finally, case analysis shows that the choice of financing model has a great influence on investment decision. The green certificate market enables enterprises to make immediate investment decisions under the grid parity policy, thereby promoting the development of PV industry. In addition, policy suggestions for government on tradable green certificate market are presented.