Abstract:

The development of wind energy is a crucial component of efforts to expand green energy in any modern state. Its primary objective is to reduce carbon dioxide emissions and harness energy from renewable sources specifically, wind power. However, the deployment of wind turbines within the landscape raises questions regarding the justification of such investments; these projects entail significant challenges, including the outflow of agricultural capital and, above all, the installation of additional infrastructure that is classified as critical infrastructure from the very outset of the project.

This article aims to present an econometric model of wind turbine investment using the Cobb-Douglas production function. The decision to employ a mathematical function for analyzing wind turbine investment stems from the fact that changes in technical and organizational progress are by definitione-evolutionary in nature. The impact of this factor can be assessed by incorporating a time variable and a random element into the function; the latter is essential at every stage of the model's operation, given the turbulent changes in consumer markets and the geopolitical landscape.

The research problem is formulated as follows: Is it possible to use a mathematical production function to analyze the investment factor inputs involved in the process of erecting a wind turbine, from the initial stages through to commissioning and the commencement of the operational phase?

The study utilizes a secondary analysis of literature and legislative data from Poland and the European Union, alongside a case study method. This approach enabled the application of econometric modeling to the investment process while accounting for market assumptions and conditions of uncertainty.