Analysis of the profitability of energy production from renewable sources on the example of the wind farm assuming the government support for “green energy”

Niniejszy artykuł ma na celu ukazanie opłacalności inwestycji w farmę wiatrową, pracującą na terenie Polski, przy założeniu, że produkcja energii elektrycznej będzie odbywać się wraz z uzyskiwaniem wsparcia rządu dla producentów „zielonej energii”. Zaprezentowane dane oraz ich analiza potwierdzają opłacalność inwestycji w farmę wiatrową. Środki ze sprzedaży energii elektrycznej oraz „zielonych certyfikatów” pozwolą na to, aby farma wiatrowa po upływie kilkunastu lat od rozpoczęcia pracy zaczęła przynosić tzw. „czyste zyski”. Sczegółowe wyniki analizy opłacalności budowy farmy wiatrowej zostały opisane we wnioskach i odniesione do aktualnej sytuacji rynkowej w branży energetyki wiatrowej.One of the assumptions of the strategy “Europe 2020” is reducing emission of combustion gases in 20% (in comparison to 1990) and expansion of producing energy from renewable resources to 20% in total production of energy. Poland as a member of the European Union has to adapt to assumptions of that strategy and reduce exploitation of non-renewable resources. Unfortunately, costs of producing green energy are larger than producing energy - in the traditional way for Poland from hard coal or brown coal combustion. In this situation the Polish government is obliged to help manufacturers of energy from renewable sources. The basic elements of support for “green energy” are “green certificates”. Among the renewable energy sources in recent years, there is a significant increase in installed capacity in wind power plants. Wind power industry is clean, but on the other hand it is also very expensive. This requires a huge set of supporting structures and wind turbines, building foundations, roads and power connection. With the aim of analysis the profitability of energy production from the wind farm it is necessary to estimate costs of construction, operating costs and future profits. The profitability of wind farm project with 30 MW capacity is the subject of this elaboration. The case study refers to investment in the Poland, assuming that electricity production will be supported by government through green certificates. The presented data and their analysis confirms the soundness of the investment in a wind farm. Proceeds from the sale of electricity and green certificates allow that the wind farm after a few years from starting work will begin to bring the profits. Detailed results of the analysis of the profitability of wind farm are described in the conclusion and related to the current market situation in the wind power industry. The article assumes that at the time of construction investment and the initial years of its operation the certificate prices will remain at a constant level