期刊
QUANTITATIVE ECONOMICS
卷 10, 期 1, 页码 275-310出版社
WILEY
DOI: 10.3982/QE919
关键词
Count data; hurdle model; fixed effects; instrumental variables; Poisson; energy policy
类别
资金
- US Department of Energy award [DE-EE0006128]
This paper estimates demand for residential solar photovoltaic (PV) systems using a new approach to address three empirical challenges that often arise with count data: excess zeros, unobserved heterogeneity, and endogeneity of price. Our results imply a price elasticity of demand for solar PV systems of -0.65. Counterfactual policy simulations indicate that reducing state financial incentives in half would have led to 9% fewer new installations in Connecticut in 2014. Calculations suggest a subsidy program cost of $364/tCO(2) assuming solar displaces natural gas. Our Poisson hurdle approach holds promise for modeling the demand for many new technologies.
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