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Title: An Analysis of Financial Costs and Returns of Solar-energy ElectricityProduction and Sale: The Case of Nakhon Ratchasima Province
Authors: Patangmongkol, Nattida 
Issue Date: 2012
Publisher: University of the Thai Chamber of Commerce
Source: Nattida Patangmongkol (2012) An Analysis of Financial Costs and Returns of Solar-energy ElectricityProduction and Sale: The Case of Nakhon Ratchasima Province.
The electricity energy is one of the most important basic factors for human living. It drives thecountry’s economic and social developments. Meanwhile electricity demand rapidly increases, its productionfactors decrease. Therefore, the National Energy Policy Office and the Electricity Generating Authority ofThailand have tried to look for alternative energies, which are non-destructive for the environment,to substitute for fuel energies. The government itself is currently supporting Very Small Power Producers(VSPPs) who are able to produce and distribute less-than-10-megawatt electricity with renewable energy.Of all the VSPPs, those who produce and distribute solar-energy electricity rank the top, given thegovernment’s highest adder (extra-money) buying ratio of the solar energy. The support is grounded onfree, non-polluted and environmental-friendly qualities of the solar energy. The present study carries out the analysis of financial costs and returns of a 6-megawattmulti-crystalline solar-energy electricity production project in Nakhonratchasima Province, where solar-energyelectricity production is flourish.The project life is set at 25 years, with the highest commercial bank lendinginterest rate of 8.85% as a discount rate for the study. The study proves the project is worthwhile forinvestment, according to different financial measures: The project’s NPV is positive; the B/C ratio is more than1; the IRR is higher than the borrowing interest rate; the payback period is 8 years 1 month and 13 days.Sensitivity analyses, including a 5% rise in costs with fixed returns, a 5% of reduction in returns with fixedcosts and a 5% rise in both costs and returns, also prove the project worth investing.
Rights: This work is protected by copyright. Reproduction or distribution of the work in any format is prohibited without written permission of the copyright owner.
Appears in Collections:GS: Theses / Independent Studies

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