| Srl | Item |
| 1 |
ID:
193720
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| Summary/Abstract |
Does the merit-order effect vary between renewable technologies? The theory behind the effect predicts the same right shift in the supply curve from solar as from wind electricity, which means no. However, many empirical studies suggest yes. A clear answer to this question is important for policymakers to design suitable policy instruments to promote renewable electricity. This study reconciles the theory of the merit-order effect with the empirical results using a quasi-experimental approach. Coarsened exact matching is applied in order to estimate the merit-order effect for solar and wind electricity generation and the results indicate that when using this thorough identification strategy, there is no empirical evidence for a difference in the merit-order effect between solar and wind electricity generation. To this end, different merit-order effects of solar and wind electricity will originate from interactions with other variable in the electricity system. Therefore, empirical studies need to carefully disentangle the effects of these variables in order to provide useful and reliable insights for policymakers and financial stakeholders.
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| 2 |
ID:
112324
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| Publication |
2012.
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| Summary/Abstract |
The Renewable Portfolio Standard (RPS) of the State of Illinois specifies a schedule for the fraction of electricity produced from wind to be phased in through 2025. The price of electricity due to implementation of RPS in order to achieve a six-year payback on investment on new wind farms was estimated for six scenarios that examined the effect of electricity consumption growth rate, production tax credit of $0.022/kW h or unrestricted investment tax credit of 30%, and projected changes in installed project costs. In all cases, the electricity price was found to be dominated by the installed project cost (capital cost). Thus, any policy that affects the capital cost directly or indirectly would have a significant effect on the electricity price. Whereas investment tax credit has a direct effect, policies that encourage technology improvement and improve transmission lines would have a similar effect of lowering the capital cost. Carbon tax, on the other hand, would increase the electricity price to the consumers, although it offers other benefits.
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