The role of design elements in instrument mixes: the case of auctions and renewable portfolio standards in South Korea

Tae-Hyeong Kwon and Pablo del Río

Chapter 18 in Handbook on the Economics of Renewable Energy, 2023, pp 420-441 from Edward Elgar Publishing

Abstract: The success of instruments for the deployment of renewable electricity depends on how those instruments are designed and combined. However, despite the importance of the choice of design elements and the widespread use of instrument mixes, the impact of such choices on the interactions between instruments has not received much attention. This study addresses this gap in the literature and illustrates how the choice of design elements for one instrument may affect the outcome of the instrument mix. It also examines the design elements of auctions in South Korea, where auctions, renewable portfolio standards and feed-in tariffs are combined. The case of South Korea shows that the choice of design elements in an auction may have considerable effects on the instrument mix. The results suggest that, although the need to coordinate instruments for improving the success of instrument mixes has often been proposed, this is not only an issue of coordinating instruments, but also of selecting the appropriate design elements of instruments.

Keywords: Economics and Finance; Environment; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781800379022.00028 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

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:elg:eechap:20354_18

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().