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Is Belgium overshooting in its policy support to cut the cost of capital of renewable sources of energy?

Author

Listed:
  • Antonio Estache
  • Anne-Sophie Steichen

Abstract

The paper documents the differences in capital costs between electricitygeneration companies in Belgium based on whether they rely on traditional thermal sources or on RES. The assessment involves an analysis of a sample of twenty-six firms. It shows that government programs have more than compensated renewable-energy firms for high capital costs related to the increased risks of these energy sources.

Suggested Citation

  • Antonio Estache & Anne-Sophie Steichen, 2015. "Is Belgium overshooting in its policy support to cut the cost of capital of renewable sources of energy?," ULB Institutional Repository 2013/220738, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ulb:ulbeco:2013/220738
    Note: SCOPUS: ar.j
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    Cited by:

    1. Đukan, Mak & Kitzing, Lena, 2023. "A bigger bang for the buck: The impact of risk reduction on renewable energy support payments in Europe," Energy Policy, Elsevier, vol. 173(C).
    2. Dorigoni, Susanna & Anzalone, Giuseppe A., 2024. "Production of energy from renewable sources and financial performance of European utilities: A panel-data analysis," Energy Policy, Elsevier, vol. 194(C).
    3. Steffen, Bjarne, 2020. "Estimating the cost of capital for renewable energy projects," Energy Economics, Elsevier, vol. 88(C).
    4. Justyna Franc-Dąbrowska & Magdalena Mądra-Sawicka & Anna Milewska, 2021. "Energy Sector Risk and Cost of Capital Assessment—Companies and Investors Perspective," Energies, MDPI, vol. 14(6), pages 1-20, March.
    5. Ferreira Savoia, José Roberto & Securato, José Roberto & Bergmann, Daniel Reed & Lopes da Silva, Fabiana, 2019. "Comparing results of the implied cost of capital and capital asset pricing models for infrastructure firms in Brazil," Utilities Policy, Elsevier, vol. 56(C), pages 149-158.
    6. Zhou, Xiao Yan & Caldecott, Ben & Shrimali, Gireesh & Zhang, Hanyu, 2025. "An empirical analysis of climate and environmental policy risk, the cost of debt and financial institutions' risk preferences," Energy Economics, Elsevier, vol. 144(C).
    7. Piotr W. Saługa & Krzysztof Zamasz & Zdzisława Dacko-Pikiewicz & Katarzyna Szczepańska-Woszczyna & Marcin Malec, 2021. "Risk-Adjusted Discount Rate and Its Components for Onshore Wind Farms at the Feasibility Stage," Energies, MDPI, vol. 14(20), pages 1-12, October.
    8. World Bank, 2024. "World Development Report 2024," World Bank Publications - Books, The World Bank Group, number 41919, April.

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