Modelling of the current RES retribution scheme in Spain since 2013

This Master’s Thesis describes the creation of an Excel model used to calculate the regulated
revenues to be obtained by any renewable energy source (RES) power plant that participates
in the support scheme present in Spain (Royal Decree 413/2014).
In order to achieve this, it was necessary to analyze all the legislation that is relevant
to the matter, to understand the issue at hand and to envision the proper way of implementing
it into a model. The model was then created, taking into account the particularities of the
Spanish support scheme, and considering that new power plants could be added to this
scheme, so the model would have to cope with those too.
With this model it was possible to analyze how different scenarios would affect the
regulated revenues of different RES power plants. It was also possible, due to estimations on
the installed capacity of the different power plants, to approximate the variation in cost for
the electric system of these scenarios. Finally, this model yielded results in order to assess the
profitability of a hypothetical power plant associated to this support scheme, given variations
with respect to a reference RES power plant.
In conclusion, this model is able to obtain results that are useful for businesses that
are owners of RES power plants, or that are willing to enter into the sector, academics that
wish to study the effects of this support scheme, and regulators that wish to assess changes in
the scheme.