Journal
APPLIED ECONOMICS LETTERS
Volume 30, Issue 18, Pages 2597-2606Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/13504851.2022.2100048
Keywords
Feed-in premium; Feed-in tariff; renewable energy; market integration; autoregressive-distributed lag
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By examining the impacts of feed-in policies on renewable energy deployment, we find that the feed-in premium scheme encourages the integration of wind energy in the market, but discourages investment in solar power technologies. Fixed price feed-in policy provides greater investment security for solar power projects.
By adopting the autoregressive-distributed lag error correction model, we examine both the short- and long-term impacts of feed-in policies on renewable energy deployment. The estimation results show that the feed-in premium scheme achieved its objective of encouraging the market integration of wind energy but discouraged and retarded investment in solar power technologies. Compared to the market mechanism, fixed price feed-in policy creates greater investment security for solar power projects.
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