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Energy, markets, and society
Published in Peter M. Schwarz, Energy Economics, 2023
Two of the most widely used programs to accelerate the use of renewables are feed-in tariffs (FITs) and renewable portfolio standards (RPSs). FITs are a price-based mechanism, while RPSs are quantity-based. Feed-in tariffs are a contract, typically for at least ten years, that require utilities to buy renewables at a price above conventional alternatives, with the price declining over time. While FITs accelerate the use of renewables, the high initial payment drives up the cost of electricity. Germany and Denmark are among the countries using FITs, and have among the highest electricity prices in the EU. In 1978, the U.S. passed the Public Utilities Regulatory Policy Act (PURPA), which required electric utilities to purchase renewables from independent power producers even if the utilities could produce the power more cheaply using conventional fuels. With the cost of renewables having declined steeply since that time, U.S. utilities have been pushing to weaken or eliminate the PURPA requirement.
Planning a solar farm
Published in Susan Neill, Geoff Stapleton, Christopher Martell, Solar Farms, 2017
Susan Neill, Geoff Stapleton, Christopher Martell
Government-based incentive policies to support investment in solar PV include feed-in tariffs, reverse auctions, market premiums, renewable energy certificates and tax incentives. Renewable energy targets play a crucial role in quantifying market potential and therefore facilitating investment in utility-scale solar. However, any of these mechanisms must be backed by specific policies and support measures in order to provide a reliable trajectory for the technology deployment for investors and society. Over the last decade, renewable energy targets have been adopted in more and more countries and have become increasingly diverse. Figure 3.21 and Figure 3.22 illustrate the growth of adoption of renewable energy targets, with the number of countries growing from 43 in 2005 to 146 by 2015.
External Components of the Financial Analysis
Published in Gene Beck, Grid Parity, 2020
At its simplest, a feed-in tariff is an offering of a fixed-price contract over a specified term with specified operating conditions to eligible renewable energy generators. Feed-in tariffs can be either an all-inclusive rate or a fixed premium payment on top of the prevailing spot market price for power. The price paid represents estimates of either the cost or value of renewable generation. The tariff is generally offered by the interconnecting utility and sets a standing price for each category of eligible renewable generator; the price is available to all eligible generators. Tariffs are often differentiated based on technology type, resource quality, or project size and may decline on a set schedule over time.
Can environmental regulations facilitate total-factor efficiencies in OECD countries? Energy-saving target VS emission-reduction target
Published in International Journal of Green Energy, 2023
Yun Wang, Yan Dong, Xiaohua Sun
The improvement of energy consumption structure through increasing the ratio of renewable energy consumption is beneficial for decreasing both energy conservation and emission reduction. Due to the high reliance on fossil fuels in industrial production, it is hard for the promotion and popularization of renewable energy. In this case, the governments implement industrial policies to help the development of renewable energy technology and product (Yao et al. 2019). Specifically, the implementation of green certificates provides the market trading mechanism of renewable energy generation, and meanwhile a direct financial incentive for renewable energy power plants. As for the feed-in tariff policy, the governments provide subsidies to renewable energy (such as solar or wind energy) power plants and promise an above-market price, to promote the generating capacity of renewable energy indirectly. R&D subsidies, financially supported by governments as well, are granted to the firms or institutions which carry out R&D activities of developing renewable energy technology. It is conducive to reducing the R&D costs of firms and promoting research on renewable energy technology.
Influence of degradation in units of PV modules on electric power output of PV system
Published in Journal of International Council on Electrical Engineering, 2018
Takatoshi Hayashi, Tomoya Nagayama, Tadashi Tanaka, Yoshitaka Inui
According to the statistical data [2,3], the capacity of PV systems installed in Japan throughout 2015 was 10.8 GW, and the total cumulative installed capacity of them reached 42 GW at the end of 2016. This rapid growth of the installed capacity of PV systems was related to the introduction of the Feed-in-Tariff Program for renewable energy. In addition, more than half of Japanese people experienced the tight supply-demand balance of electric power after the Great East Japan Earthquake on 11 March 2011 [4] and the increased energy saving awareness in Japan caused by the psychological impact of this experience is also considered to be one of the factors that promoted this wide diffusion of PV systems.
CO2 intensity of GDP, energy productivity and environmental degradation in Iceland: evidence from novel Fourier based estimators
Published in Energy Sources, Part B: Economics, Planning, and Policy, 2023
Kashif Raza Abbasi, Modupe Oluyemisi Oyebanji, Dervis Kirikkaleli
Improved energy efficiency may cut down on energy use and the pollutants that come with it in industrial operations, buildings, and transportation. This may be done by taking steps like retrofitting buildings, enforcing fuel economy regulations for cars, and using energy-efficient technology. Support renewable energy: Moving away from fossil fuels and the pollution they cause and toward renewable energy sources like wind and solar may assist. The use of renewable energy may be encouraged by governments via the employment of programmes like feed-in tariffs, tax breaks, and subsidies.