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| 1 |
ID:
180858
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| Summary/Abstract |
Renewable portfolio standards (RPS) is an institutional change from Feed-in Tariff (FIT) to government policy and market mechanism. Is it conducive to improve China's social welfare? Given this problem, this paper constructs the social welfare function under the FIT policy and RPS system respectively based on consumer heterogeneity and simulates the social welfare of China under the two schemes on the basis of combining the real economic situation of China. The results show that: (1) Based on China's real economic situation, the implementation of RPS has achieved Pareto improvement and improves China's social welfare. (2) Under the RPS, compared with the actual situation of oligopoly in China's electricity market, competition can improve social welfare better. (3) The effective implementation of RPS depends on the quota level of the government's scientific design. As far as China's current real economic situation is concerned, when the quota is set in the interval (0,0.5], the social welfare under the RPS is always higher than that under the FIT. Therefore, to improve social welfare and promote low-carbon energy transition, China should effectively promote the implementation of RPS, a mandatory institutional change, and strengthen the system construction of RPS.
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| 2 |
ID:
097217
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| Publication |
2010.
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| Summary/Abstract |
Feed-in tariff (FIT) and tradable green certificate (TGC) schemes are studied in a formal model and numerical example using the UK data. We find that if the markets were perfectly competitive, then feed-in tariff and the certificate price would be the same. However, when the markets are imperfect, they are generally different. While both the tariff and certificate price fluctuate around the difference between the costs of green and black energy, the tariff deviates more from the cost difference than the certificate price. The supplies of both black and green energy under FIT are higher than TGC, obviously as a result of subsidies. A troubling outcome is that the total energy supply increases under FIT as the renewables quota increases, which can negate other measures to mitigate climate changes such as demand management. Finally, using the data from the UK market, we find that social welfare under TGC is consistently higher than FIT for a wide range of values of the parameters.
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| 3 |
ID:
111434
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| Publication |
2012.
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| Summary/Abstract |
Guarantees of Origin (GO) and Electricity Disclosure, as defined in the EU's Renewable Energy and Electricity Market Directives, require that European consumers should be provided with reliable information about the origin of their electricity supply. At the same time, the Renewable Energy Directive requires that support mechanisms be implemented with the aim of increasing the proportion of energy from renewable sources. The Quota System with Tradable Green Certificates (TGC) was established in Sweden as a support mechanism in 2003 and is, from 2012, planned to be extended to become a Swedish-Norwegian system. This article discusses the effects of Electricity Disclosure and the TGC system when working as two separate entities, and the potential interaction between the systems when working in tandem. It appears that Electricity Disclosure may create a customer-driven demand for renewable electricity, which can supplement the TGC system. In the long-term, GOs may thus influence the decisions made by investors in renewable energy. However, currently Electricity Disclosure has very low, or no, impact on the total production of electricity from renewable sources when compared with a stand-alone TGC system.
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