Evaluation of Renewable Energy Feed In Tariff Scheme in South Africa
Author
Petsa, Stavroula
Term
4. Term
Publication year
2011
Submitted on
2011-06-07
Pages
99
Abstract
Dette speciale evaluerer effektiviteten af Sydafrikas Renewable Energy Feed-in Tariff (REFIT), indført af NERSA, med fokus på nettilsluttet fotovoltaik (PV), landvind og parabolske trug-baserede CSP-anlæg med seks timers lagring. Studiet opstiller et centralt forskningsspørgsmål med fire underspørgsmål og anvender et makroperspektiv, der kombinerer finansiel vurdering med en institutionel analyse af den politiske og regulatoriske kontekst. Med en beregningsmetode for feed-in-tariffer baseret på discounted cash flow-begreber (fx IRR, NPV, WACC) og scenarieanalyser undersøges, hvordan nøgleantagelser—kapacitetsfaktorer, diskonteringsrenter, valutakurser og anlægsomkostninger—påvirker det tariferingsniveau, der kræves for at tiltrække investeringer, herunder bedste og værste fald. Ud over tariffer vurderer specialet centrale designvalg i ordningen såsom støtteniveau, differentiering efter teknologi og ressourcekvalitet, inflationsregulering, revisions- og degressionsregler, købsforpligtelse samt varighed af kraftkøbsaftaler, og kortlægger relevant lovgivning, aktører og administrative procedurer. Samlet anvendes analyserne til at identificere mulige ineffektiviteter og institutionelle barrierer for gennemførelsen af REFIT og til at udvikle anbefalinger til at forbedre ordningens effektivitet; konkrete resultater og anbefalinger fremgår ikke af dette uddrag.
This thesis evaluates the effectiveness of South Africa’s Renewable Energy Feed-in Tariff (REFIT) introduced by NERSA, focusing on grid-connected photovoltaic (PV), onshore wind, and parabolic trough concentrated solar power (CSP) with six hours of storage. It frames a central research question and four sub-questions and applies a macro-level perspective that combines financial assessment with an institutional analysis of the policy and regulatory context. Using a feed-in tariff calculation methodology grounded in discounted cash flow concepts (e.g., IRR, NPV, WACC) and scenario analysis, the study examines how key assumptions—capacity factors, discount rates, exchange rates, and capital costs—affect the tariff level required to attract investment, including best- and worst-case ranges. Beyond tariff levels, the thesis assesses core scheme design elements such as support levels, differentiation by technology and resource quality, inflation adjustment, revision and degression rules, power purchase obligations, and power purchase agreement duration, and maps the relevant legislation, actors, and administrative procedures. Together, these analyses are used to identify potential inefficiencies and institutional barriers to REFIT implementation and to develop recommendations to improve the scheme’s effectiveness; specific results and recommendations are not included in this excerpt.
[This summary has been generated with the help of AI directly from the project (PDF)]
Keywords
Documents