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Can technology-specific deployment policies be cost-effective? The case of renewable energy support schemes

[Arbeitspapier]

Lehmann, Paul; Söderholm, Patrik

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Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-46488-2

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Körperschaftlicher Herausgeber Helmholtz-Zentrum für Umweltforschung - UFZ
Abstract While there is relatively limited disagreement on the general need for supporting the deployment of renewable energy sources for electricity generation (RES-E), there are diverging views on whether the granted support levels should be technology-neutral or technology-specific. In this paper we question the frequently stressed argument that technology-neutral schemes will promote RES-E deployment cost-effectively. A simple partial equilibrium model of the electricity sector with one representative investor is developed to illustrate how the cost-effective support levels to different RES-E technologies will be influenced when selected market failures are introduced. We address market failures associated with technological development, long-term risk taking, path dependencies as well as various external costs, all of which drive a wedge between the private and the social costs of RES-E deployment. Based on these analytical findings and a review of empirical literature, we conclude that the relevance of these market failures is typically heterogeneous across different RES-E technologies. The paper ends by discussing a number of possible caveats to implementing cost-effective technology-specific support schemes in practice, including the role of various information and political economy constraints. While these considerations involve important challenges, neither of them suggests an unambiguous plea for technology-neutral RES support policies either.
Thesaurusschlagwörter renewable energy; energy production; electricity; new technology; funding policy; energy policy; effectiveness; subsidy; bioenergy
Klassifikation Ökologie und Umwelt; spezielle Ressortpolitik
Freie Schlagwörter technology deployment; support schemes; cost-effectiveness
Sprache Dokument Englisch
Publikationsjahr 2016
Erscheinungsort Leipzig
Seitenangabe 27 S.
Schriftenreihe UFZ Discussion Papers, 1/2016
ISSN 1436-140X
Status Veröffentlichungsversion
Lizenz Creative Commons - Namensnennung, Nicht-kommerz., Weitergabe unter gleichen Bedingungen
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