This study uses an ex-post evaluation of the grid-connected wind projects in Ontario, Canada, to quantify the stakeholder impacts of such renewable energy projects. Our study includes a financial, economic and stakeholder analysis of a sample of three wind farms. The analysis sheds light on the distributional impacts that arise when there is a significant gap between the incentives created by the financial price paid for electricity generation and the economic value of the electricity generated. The analysis shows that the negotiated power purchase agreements (PPAs) have resulted in a negative outcome for the economy in all circumstances. It is found that the present value of the economic costs is at least three times the present value of the economic benefits, including the global benefits from the reduced CO₂ emissions. This loss is borne by all the stakeholders of the electricity system, except the private owners of the wind farms. The losers are primarily the electricity consumers followed by the governments. The Ontario Electricity Rebate (OER) programme, which is financed by increased government borrowing, has the effect of transferring a large share of the costs incurred to promote investments in wind power to future generations of taxpayers in Ontario.

本研究使用对加拿大安大略省并网风电项目的事后评估来量化此类可再生能源项目对利益相关者的影响。我们的研究包括对三个风电场样本的财务、经济和利益相关者分析。该分析揭示了当为发电支付的财务价格所产生的激励与所产生电力的经济价值之间存在显着差距时所产生的分配影响。分析表明，谈判的购电协议 (PPA) 在所有情况下都对经济产生了负面影响。发现经济成本的现值至少是经济利益现值的三倍，包括减少 CO ₂的全球利益排放。这种损失由电力系统的所有利益相关者承担，风电场的私人所有者除外。输家主要是电力消费者，其次是政府。安大略省电力回扣 (OER) 计划由增加的政府借款提供资金，其作用是将促进风电投资所产生的大部分成本转移给安大略省的后代纳税人。