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Books > Business & Economics > Industry & industrial studies > Energy industries & utilities
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The design and sustainability of renewable energy incentives - an economic analysis (Paperback)
Loot Price: R1,278
Discovery Miles 12 780
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The design and sustainability of renewable energy incentives - an economic analysis (Paperback)
Series: Directions in development
Expected to ship within 10 - 15 working days
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The novelty of this work is the fact that it introduces a rigorous
and objective economic perspective of current renewable energy
support mechanisms and an empirical analysis of the strengths and
weaknesses of these mechanisms, which is much needed in a debate
often dominated by widespread misconceptions. The economic
rationale for renewable energy is straightforward: the optimum
amount of renewable energy for grid-connected generation is given
by the intersection of the renewable energy supply curve with the
avoided cost of thermal electricity generation. The proposed
analytical framework: (i) differentiates and illustrates trade-offs
among local, regional, and national impacts, in the short and long
run; (ii) captures distributional impacts; and (iii) captures
externalities and compares alternative projects based on equivalent
output and cost. Accordingly, the study advocates for the need to
get the economic, financial, and institutional basics right for the
deployment of renewable energy. The study s integration of
renewable energy subsidies with fossil subsidies is another novel
and important contribution. This allows important comparisons. For
example, to reduce carbon intensity in developing country
economies, is it more efficient to deploy renewable energy or
implement alternative options, such as eliminating subsidies on
fossil fuels? The work is based on case studies of Vietnam,
Indonesia, Sri Lanka, South Africa, Tanzania, Egypt, Brazil, and
Turkey, selected to provide a representative sample of countries
with different energy endowments (coal, natural gas, and
hydro-based systems) and policy incentives (from feed-in tariffs to
auctions). Along the way, the incremental cost of renewable energy
is compared with the average cost of generation. The selection and
design of support mechanisms in turn determines the impacts on the
budget and residential consumers. The main lessons emerging from
the case studies are that successful renewable energy policies:
Will only be effective once the state-owned utilities who are the
buyers of grid-connected renewable energy are themselves in good
financial health Need to be grounded in economic analysis and
accompanied by the application of market principles to ensure
economic efficiency Require a sustainable, equitable, and
transparent recovery of incremental costs"
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