Compensation of CO2 Emissions from Petrol Stations with Photovoltaic Parks: Cost-Benefit and Risk Analysis

This paper presents a new approach for reducing the CO₂ emissions in the transport sector based on emission compensation. A cost-benefit analysis method of investments in photovoltaic parks at petrol stations is used, which accounts for all the initial investments and maintenance costs in terms of expenses. The benefits are divided into financial and ecological. The method has been implemented in the specialised cost-benefit analysis tool, and an analysis has been performed for the city of Ruse, Bulgaria. Risk analysis on the influence of the main risk factors - the price of conventional energy and the buying price of energy from renewable energy sources is also performed. The results showed that investments in photovoltaic parks at petrol stations could pay off within 6 to 9 years in the more likely scenarios. The investment could reduce the CO₂ emissions, related to the petrol station, by 10% to 37% depending on the scenario and the criterion used.