System for Financing Investments in Renewable Energy Sources in Poland

Abstract

The research problem is to determine the system composition for financing investments in renewable energy sources in Poland. The aim of the article is to identify, analyse and assess the elements that are absolutely essential for green energy transformation in Poland: the support of investments from public funds (the first part of the article), the mechanism for investing in commercial projects (the second part) and the financing of small projects provided by households (the third part). The research method in the first part is based on strategic documentation analysis, in the second part on individual interviews conducted with selected financial institutions, such as the European Investment Bank, and in the third part on Polish households surveys conducted by research companies and universities. The conclusions indicate the relatively low scale of public support for investments in renewable energy sources and the lack of clear preferences for technologies with unstable electricity generation characteristics and regulatory uncertainty. The terms and the financing model are not conducive to small projects and projects intended for household purposes. Opportunities for investment in the development of dispersed and smaller scale sources should be found in reducing technology costs and improving the competitiveness of energy prices on the market. Improving Polish and the EU financing system needs to maintain public support, better identify the financial needs and financial limitations, and increase the scope of financial advisory and guarantees for entities. Those undertakings will activate a significant number of small investors and local renewable energy generation.