What's Powering Wind? The Role of Prices and Policies in Determining the Amount of Wind Energy Development in the United States (1994-2008)

Karen Maguire

No 103599, 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania from Agricultural and Applied Economics Association

Abstract: This paper focuses on the role of electricity markets and renewable energy regulation in wind development across the United States. My findings, using a random effects Tobit model with a 25-state sample, from 1994-2008, indicate that the implementation of state Renewables Portfolio Standards (RPS), Green Power Purchase programs (GPP), and the Federal Production Tax Credit (PTC) positively influenced a state’s added wind capacity. The influence of GPP programs continued to increase in the years after implementation, while for RPS it diminished. Also, other programs such as State Loan and Grant programs directed at increasing renewable energy development have not had a significant impact on wind capacity. The role of market factors is less significant, although there is some evidence that increases in natural gas prices had a positive influence.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 48
Date: 2011
New Economics Papers: this item is included in nep-ene, nep-env and nep-reg
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea11:103599

DOI: 10.22004/ag.econ.103599

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