Previous research suggests that the potential for city-scale photovoltaic (PV) applications is substantial across the globe. Successful implementation of ‘solar city’ options will depend on the strategic application of finance mechanisms, solar energy soft cost policies, and other policy tools, as well as the grid price of electricity. Capital markets recently have embraced the roll-out of new financial instruments, including ‘green bonds,’ which could be incorporated into solar city project design to attract large investments at a low cost. A multivariate analysis method is employed to consider solar city possibilities for six cities: Amsterdam, London, Munich, New York, Seoul, and Tokyo. A Monte Carlo simulation is conducted to capture the probabilistic nature of uncertainties in the parameters and their relative importance to the financial viability of a solar city project. The analysis finds that solar city implementation strategies can be practical under a broad range of circumstances. WIREs Energy Environ 2017, 6:e241. doi: 10.1002/wene.241. For further resources related to this article, please visit the WIREs website.
|Journal||Wiley Interdisciplinary Reviews: Energy and Environment|
|Publication status||Published - 2017 Jul 1|
ASJC Scopus subject areas
- Renewable Energy, Sustainability and the Environment
- Environmental Science(all)