| Summary: | The aim of this work is to find out the ways in which existing company evaluation methods are affected by state benefits and howthey have to be adopted to represent the influences more appropriately. A more realistic and volatile valuation can improve financingconditions and therefore the development of renewable energy sources. Solar cell producer were chosen as representative companiesas the technology is still in an early stage of development. Further they receive both, direct and indirect state benefits. Both havedifferent impacts on valuation methods. Finally, adjustments of state benefits are explained to increase the quality and the amountof company values.
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