REGULATORY IMPACT OF PHOTOVOLTAIC PROSUMER POLICIES IN BRAZIL BASED ON A FINANCIAL RISK ANALYSIS

In 2018, A Regulatory Impact Analysis (RIA) was launched to review the Brazil's prosumer remuneration scheme in Brazil. Six policy alternatives that can impose different financial risks on photovoltaic prosumers, including whether or not there are complementary incentives, are considered. Policy implications are based on an analysis of the financial risk to prosumers in São Paulo state in terms of the Conditional Value at Risk of Net Present Value. The results reveal that additional financial incentives can mitigate the financial risk of some alternatives. Some alternatives impose financial risk that may discourage new prosumers in some of the São Paulo regions studied.