期刊
ENERGY ECONOMICS
卷 72, 期 -, 页码 154-165出版社
ELSEVIER
DOI: 10.1016/j.eneco.2018.04.014
关键词
Incentive pass-through; Solar photovoltaic; California solar initiative
类别
资金
- Office of Energy Efficiency and Renewable Energy (Solar Energy Technologies Office) of the U.S. Department of Energy (DOE) [DE-AC02-05CH11231]
This paper estimates the incentive pass-through rate for the two largest solar photovoltaic rebate programs in the U.S.: California Solar Initiative and its predecessor Emerging Renewables Program. We apply both a structural modeling approach based on the conduct parameter and a reduced-form regression analysis using different fixed effects. Identification comes from rebate level stepwise changes within each of the three major electric utilities in California and different rebate levels across the utilities. The results from both approaches suggest an average pass-through rate of direct incentives of nearly 100%, though with minor regional differences among California counties. These results suggest a relatively competitive market and a smoothly operating subsidy program, at least from an incentive pass-through perspective. (C) 2018 Elsevier B.V. All rights reserved.
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