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Gone with the wind An empirical analysis of the renewable energy rent transfer


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Publication Date: 2017-01-09

Series: CWPE;1701

Publisher: Faculty of Economics

Type: Working Paper

Metadata: Show full item record

Citation: Liski, M., & Vehviläinen, I. (2017). Gone with the wind? An empirical analysis of the renewable energy rent transfer. https://doi.org/10.17863/CAM.7843

Abstract: Subsidies to renewable energy are costly and contentious. We estimate the reduction in prices that follows from the subsidized entry of wind power in the Nordic electricity market. A relatively small-scale entry of renewables leads to a large-scale transfer of surplus from the incumbent producers to the consumers: 10 % market share for wind generation eliminates one-half of the total electricity market expenditures. The subsidies generate net gains to consumers. We develop an approach to analyzing storage and renewable energy in equilibrium, and provide an anatomy of a market dominated by such technologies.

Keywords: Electricity, renewables, storage, climate policies

Identifiers:

This record's DOI: https://doi.org/10.17863/CAM.7843

This record's URL: https://www.repository.cam.ac.uk/handle/1810/262577







Author: Liski, M.Vehviläinen, I.

Source: https://www.repository.cam.ac.uk/handle/1810/262577



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