Journal
ENERGY POLICY
Volume 36, Issue 4, Pages 1436-1447Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.enpol.2007.12.020
Keywords
renewable energy; liberalisation; electricity generation portfolio
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The paper examines how increased competition in electricity markets may reshape the future electricity generation portfolio and its potential impact on the renewable energy (RE) within the energy mix. The present analysis, which is based on modelling investor behaviour with a time horizon up to 2030, considers the economic aspects and conditions for this development with a particular focus on the photovoltaics. These aspects include pure financial/investment factors, such as the expected returns in the sector, subsidisation of certain RE resources and other policies focusing on the energy sector (liberalisation, environmental policies and security of supply considerations). The results suggest that policies aiming at the expansion of renewable energy technologies and strengthening the competition in the electricity markets have mutually reinforcing effects. More competition can reduce the financial burden of the existing renewable support schemes and consequently help to achieve the already established RE targets. (c) 2007 Elsevier Ltd. All rights reserved.
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