Authors: Stevanović, Sanja 
Pucar, Mila
Title: Investment appraisal of a small, grid-connected photovoltaic plant under the Serbian feed-in tariff framework
Journal: Renewable and Sustainable Energy Reviews
Volume: 16
Issue: 3
First page: 1673
Last page: 1682
Issue Date: 1-Apr-2012
Rank: M21a
ISSN: 1364-0321
DOI: 10.1016/j.rser.2011.11.036
Serbian government has recently introduced the system of feed-in tariffs for electricity generated from renewable sources. The proposed feed-in tariff for photovoltaic electricity is set to 0.23 /kWh paid for 12 years, with the PV electricity produced after the first 12 years being sold at the grid electricity market price for the rest of the plant lifetime. Although such FIT could have been justified by the small, average retail grid electricity price of just 0.054 /kWh for Serbian households, the investment appraisal of a real case of 2.82 kWp PV power plant in two Serbian cities of Zlatibor and Negotin, clearly illustrates that the proposed FIT framework is not sufficient to attract investments into PV in Serbia. In the second part of the paper, we have analyzed alternative, more reasonable feed-in tarrif frameworks, with the goal of selecting those able to sustain the PV adoption and diffusion in Serbia.
Keywords: Feed-in tariff | Investment appraisal | Photovoltaics | Solar energy
Publisher: Elsevier
Project: Spatial, environmental, energy and social aspects of developing settlements and climate change ‚Äì mutual impacts 

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