Journal
RENEWABLE & SUSTAINABLE ENERGY REVIEWS
Volume 74, Issue -, Pages 412-423Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.rser.2016.12.032
Keywords
Tradable green certificates; Feed-in tariff; Renewable energy sources electricity (RES-E); Subsidies
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We test if policy support for renewable electricity have been effective in promoting renewables in the five largest European countries in the period 2000-2010. We collect data on the exact amount of monetary incentives and the average tariffs granted. The econometric analysis reveals a positive correlation between subsidies and the production of incentivized energy, as well as the installed capacity. We find that a 1% (lc(sic)) increase in the incentive (tariff) leads to an increase in renewable generation of 0.4-1% (18-26%). Feed-in tariffs appear to outperform tradable green certificates. Overall, the analysis shows that these policies have been effective in promoting renewable energy, both in the short and in the long run.
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