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ID:
113481
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| Publication |
2012.
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| Summary/Abstract |
Renewable energy systems depend on large financial incentives to compete with conventional generation methods. Market-based incentives, including state-level REC markets and international carbon markets have been proposed as solutions to increase renewable energy investment. In this paper we introduce and formulate a carbon revenue bond, a financing tool to complement environmental credit markets to encourage renewable energy investment. To illustrate its use, we value the bond by predicting future revenue using stochastic processes after analyzing historical price data. Three illustrative examples are presented for renewable energy development in three different markets: Europe, Australia and New Jersey. Our findings reveal that the sale of a carbon revenue bond with a ten year maturity can finance a significant portion of a project's initial cost.
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| 2 |
ID:
126480
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| Publication |
2013.
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| Summary/Abstract |
Increasing the use of renewables in the global energy mix has become a top priority for policy makers. In this paper, we use a diffusion theory based approach to analyze the impact of government initiatives on the development of wind energy infrastructure focusing on the specific case of wind energy diffusion in India. We propose a new framework-the strategic structure matrix-as a way to characterize the strategic focus and analyze the effectiveness of different initiatives to increase wind power diffusion. We apply the matrix to explain the different pace and paths of wind energy growth observed in five Indian states: Tamil Nadu, Gujarat, Maharashtra, Andhra Pradesh, and Karnataka. Our findings suggest the importance of a comprehensive approach that includes multiple strategies across initiatives, local regulatory measures, and supply-side incentives.
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