An economic impact analysis of state solar incentives for improving financial performance of residential solar photovoltaic systems in the United States

Minhyun Lee, Taehoon Hong and Choongwan Koo

Renewable and Sustainable Energy Reviews, 2016, vol. 58, issue C, 590-607

Abstract: Although the global new renewable energy (NRE) market has shown remarkable growth during the past decade, NRE policies and incentive schemes should continue to support NRE market and to achieve NRE targets from the long-term perspective. In particular, solar policies and incentive schemes still remain vital to the deployment of the residential solar photovoltaic (PV) system in the United States (U.S.) due to its high initial investment cost. The previous study conducted an economic and environmental assessment of the residential solar PV system considering state solar incentives in the U.S.; however, it did not suggest any improvement scenarios for state solar incentives. To solve this limitation, this study aimed to conduct an economic impact analysis of state solar incentives for improving financial performance of residential solar PV systems in the U.S. Towards this end, this study established 16 scenarios for improving state solar incentives and quantified cash incentive rates for each scenario which can satisfy the threshold performance levels in the U.S. As a result, this study could suggest more suitable tax incentives and cash incentive rates for achieving the economic feasibility of the residential solar PV system in each target city of the U.S.

Keywords: Solar policies; State solar incentives; Solar photovoltaic systems; Scenario analysis; Financial performance; United States (U.S.) (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1364032115016809
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:rensus:v:58:y:2016:i:c:p:590-607

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/600126/bibliographic
http://www.elsevier. ... 600126/bibliographic

DOI: 10.1016/j.rser.2015.12.297

Access Statistics for this article

Renewable and Sustainable Energy Reviews is currently edited by L. Kazmerski

More articles in Renewable and Sustainable Energy Reviews from Elsevier
Bibliographic data for series maintained by Catherine Liu ().