Evaluation of Renewable Energy Policies
No EERI_RP_2004_03, EERI Research Paper Series from Economics and Econometrics Research Institute (EERI), Brussels
The world demand for clean and renewable energy is growing, which is a response to stringent environmental policies aimed at reducing greenhouse gas emissions; price instability on the world energy markets and declining fossil energy resource availability. The main goal of the current study is to evaluate alternative renewable energy policies, which we achieve by quantitatively assessing socio-economic impacts of selected policy instruments. In particular, we perform ex-ante scenario simulations using a general equilibrium bioenergy model. Our empirical results suggest that a fossil energy tax is more efficient than a subsidy. In line with previous studies we found that a subsidy lowers the average cost of production, a tax increases the average cost of production. Our empirical results suggest that bioenergy sector benefits more from an indirect tax reduction than from a removal of fossil energy sectors' subsidies.
Keywords: Emission reduction; renewable energy; policy impact assessment (search for similar items in EconPapers)
JEL-codes: O13 P28 Q21 Q23 Q28 Q42 (search for similar items in EconPapers)
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Working Paper: Assessing Impacts of Alternative Renewable Energy Strategies (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:eei:rpaper:eeri_rp_2004_03
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