There are a lot of studies that show the legitimacy of subsidizing renewable energy; however, some mechanisms are defective, and there are problems with the appropriate allocation of funds. Therefore, this paper aims to look at the situation of allocating funds to photovoltaics (PV) micro-installations in Poland through the “My Electricity” program. The article presents the results of analyses aimed at identifying inequalities between provinces in the use of funds available under the “My Electricity” program and verifying whether these inequalities are getting worse and whether the intensity of support should not be territorially conditioned in terms of maximization an electricity production. As part of two editions of the “My Electricity” program (until 1 August 2020), over 64,000 PV micro-installations were created with an average power of approximately 5.7 kWp. The total installed PV capacity was 367.1 MWp (1st edition: 159.3 MWp, 2nd edition: 207.8 MWp). Financial resources (as a whole), in the second edition of “My Electricity” program, were distributed better than in the first edition. In the first edition, as much as 7.60% of funds were allocated inefficiently; in the second edition, it was only 3.88%. Allocation surpluses occur in provinces where the average disposable income is low and where there are a small number of households. There is a potential to introduce a territorial project selection criteria. The analysis shows that the criteria should promote provinces with higher disposable income and a larger number of households.

This paper presents an attempt to the valuation of the operational flexibility of the energy investment project based on the example of combined cycle gas turbine (CCGT). For this purpose, the real options approach (ROA), net present value (NPV) method, and the Monte Carlo (MC) simulation have been used. Motivations to take up such a topic result from the fact that traditional valuation methods neglect flexibility embedded in CCGT assets. Operational flexibility was defined as the switching option to dynamically shut down and restart gas units. Valuation of the operational flexibility, the project’s extended net present value (XNPV), was based on a discounted cash flow model. The Monte Carlo simulation, allowing for better replication of the stochastic nature of market factors and some technical parameters, was introduced to the valuation model. The obtained results indicate that the value of the options significantly influences the NPV of the analyzed technology and its risk profile. The NPV was calculated at −169.1 million USD, while the XNPV amounted to 102.5 million USD. This difference, compared to the NPV distribution range at a significance level of 0.05, was more than 8.1% (almost 10.4% for α = 0.1). The results achieved help to explain the significance of the operational flexibility in the modeling profitability of CCGT technologies.

Micro-cogeneration (mCHP) is a promising solution for the generation of heat and electricity in households, it contributes to reducing carbon dioxide emissions in countries where the production of electricity is mainly based on fossil fuels. Its dissemination in Poland faces barriers in the form of high purchase prices in relation to electricity productivity. In this work 1% of the household population in Poland was analyzed using the Monte Carlo method. It was found that for mCHP to become economically profitable for a group of at least 10,000 households, its price should fall from around 18,000 euros (711.5 euros/kW_th and 18,000 euros/kW_e) to 4800 euros (189.7 euros/kW_th and 4800 euros/kW_e) and for 100,000 households to 4100 euros (162.1 euros/kW_th and 4100 euros/kW_e). These calculations were made for fixed gas and electricity prices. The analysis also included cases of various changes in gas and energy prices. Faster growth of electricity prices than gas prices reduce the profitability barrier. In addition, a building located in Lesser Poland region was analyzed, with an above average demand for electricity and heat. Gas micro-cogeneration becomes profitable for this household at a price of 3700 euros (146.2 euros/kW_th and 3700 euros/kW_e) at fixed gas and electricity prices.

There are many financial ways to intensify the construction of new renewable energy sources installations, among others: feed in tariff, grants. An example of photovoltaic grant support in Poland is the “Mój Prąd” [My Electricity] program created in 2019. This program, with a budget of...

A domestic hot water (DHW) system has been modernized in a multi-family house, located in the southeastern part of Poland, inhabited by 105 people. The existing heating system (2 gas boilers) was extended by a solar system consisting of 32 evacuated tube collectors with a heat pipe (the...