Calculation of Benchmark Internal Rate of Return for Photovoltaic Power Station Construction Projects
The benchmark internal rate of return is an important parameter for measuring the value of assets and the economic value of construction projects and is influenced by such factors as macroeconomic conditions,market prosperity,and industry development level.It dynamically changes over time and varies depending on the project.Photovoltaic power generation is a very important part of renewable energy generation,but the benchmark return rate of photovoltaic power station construction projects still lacks calculation methods tailored to industry characteristics due to the short development period of the industry.This paper obtains the equity capital cost applicable to the project and the benchmark internal rate of return applicable to specific projects based on the CAPM method by combining the Capital Asset Pricing Model(CAPM)and Weighted Average Cost of Capital(WACC)theory.Taking a rooftop distributed photovoltaic power station project as an example,it calculates and gets 4.50％of the benchmark internal rate of return for the project,which is in line with the current benchmark internal rate of return level of 4％to 8％for photovoltaic projects,indicating that using this method to calculate the benchmark internal rate of return for photovoltaic power generation projects is feasible.
Benchmark internal rate of returnPhotovoltaic power stationCapital asset pricing modelWeighted average cost of capital model
万方数据
维普
