1. Majority of solar investors in GER, ITA and SUI are non-utility investors.2. LCOE is lower than retail electricity prices in GER and ITA as well aslower than industry electricity prices in ITA and close to retail prices inSUI, creating opportunity for post-grid parity business models. However,share of PV < 10% in all three countries.3. If policymakers want to a) achieve RE & Paris targets, and b) maintaininvestor diversity, they need to be mindful of how perceived policy riskinfluences return expectations4. If risk becomes too high, non-utility investors get crowded out.Institutional investors are likely more sensitive to risk than home ownersor green investors.5. Low and stable feed-in tariffs or feed-in premiums may strike a balancebetween meeting the needs of a sufficiently broad investor base.
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