Mineral resources for renewable energy: Optimal timing of energy production

The production of energy from renewable sources is much more intensive in minerals than that from fossil resources. The scarcity of certain minerals limits the potential for substituting renewable energy for scarce fossil resources. However, minerals can be recycled, while fossil resources cannot. We develop an intertemporal model to study the dynamics of the optimal energy mix in the presence of mineral intensive renewable energy and fossil energy. We analyze energy production when both mineral and fossil resources are scarce, but minerals are recyclable. We show that the greater the recycling rate of minerals, the more the energy mix should rely on renewable energy, and the sooner should investment in renewable capacity take place. We confirm these results even in the presence of other better known factors that affect the optimal schedule of resource use: expected productivity growth in the renewable sector, imperfect substitution between the two sources of energy, convex extraction costs for mineral resources and pollution from the use of fossil resources.     

Subsidies for renewable energy in inflexible power markets

This paper analyses how short-term operational efficiency and the \(\hbox {CO}_{2}\) emissions of a power system depend on different subsidies for wind power and on the flexibility of the power system. This is analysed in the framework of a numerical power market model, calibrated to Danish data, where the start-up costs and other constraints in fossil-fuelled power plants are taken into account. The main conclusion is that flexibility is crucial for the costs of integrating wind power in an existing system. If thermal power plants are inflexible, subsidies for wind power should strive to increase the flexibility of the market by passing market signals to wind power. A subsidy that conceals market signals from wind power producers (a production subsidy) or disconnects wind power incentives from the market signals altogether (a fixed price) increases costs considerably. An inflexible power system should aim to introduce optimal subsidies (an investment subsidy) instead of production subsidies or a fixed price. The design of the subsidy scheme should take into account both the characteristics of the existing system and the characteristics of renewables.     

Application of technology roadmaps for renewable energy sector

Technology Roadmapping (TRM) is a growing technique widely used for strategy planning and aligning technology with overall business objectives. Technology roadmaps are extensively used in many diverse fields at product, technology, industry, company and national levels. An increasing number of articles published on TRM and technology roadmaps indicate that there is a growing attention for TRM among the researchers from academia, industry and government. In this article, an overview of the application of TRM in renewable energy sector has been provided. After survey of the relevant academic literature and industry roadmaps, we tried to group the roadmaps related to the renewable energy technologies into national, industry/sector and organizational level roadmaps. Research findings indicate that goals and objectives of renewable energy roadmaps are different at these three levels. At national level, roadmaps focus on future energy security, energy dependence, energy policy formulation and environment protection. At industry/sector level, roadmaps are used to identify vision, common needs and evaluate barriers, constraints and risks faced by the industry from technical, political and commercial aspects. Organizational roadmap focuses on evaluation and prioritization of R&D projects to achieve the business goals. Similarly different methods, tools and approaches are used to develop roadmaps at different levels. Various other characteristics of these roadmaps are also discussed and analyzed. Research findings also indicate that greater numbers of roadmaps are developed for those renewable energy technologies undergoing rapid growth. Moreover, most of these roadmaps are developed in the regions where more research, development and deployment activities of renewable energy technologies is taking place.     

Rural versus urban preferences for renewable energy developments

Development of renewable energy resources, such as wind farms and hydro-electric schemes, are being promoted as a new method of expanding and diversifying employment in rural areas. However, such energy projects are associated with a range of environmental impacts which might be detrimental to other economic activities, such as those based on nature tourism. The authors use a Choice Experiment to quantify peoples' preferences over environmental and employment impacts that may result from the deployment of renewable energy projects in rural areas of Scotland, focussing in particular on any differences between the preferences of urban and rural dwellers, and on heterogeneity within these groups. Rural and urban households are shown to have different welfare gains which are dependent on the type of renewable energy technology and on the scale of project under consideration.     

Optimal design of pro-conservation incentives

Payments for environmental services (PES) schemes have become an increasingly accepted and popular mode for governmental and non-governmental agencies to use in addressing local and regional declines in ecosystem services. In PES schemes, payments can either be tied to indicators of actions for service provision or to indicators of the generated service itself. Performance payments are synonymous for this second group, i.e. payments are completely contingent on the procurement of an environmental good or service. Such a focus raises several practical issues during implementation. We review and translate key aspects of the economic theory of incentives into the context of performance payment schemes with special attention paid to two practical issues: risks outside the individual's control and distortion in the measurement of environmental services. Four different incentive payment approaches are presented and the effects of risk and distortion on optimal incentives are discussed. The investigation of each payment approach is accompanied by a discussion of examples from the field.     

论可再生能源的开发与利用

能源是经济发展和社会进步的重要物质资料，从利用方式可把能源分为不可再生能源和可再生能源，不可再生能源在世界经济发展和人类进步中发挥着非常重要的作用。同时，却又给人类制造着生态危机，而且不可再生能源储量有限，终有一天会枯竭，由此引发的世界能源冲突不断加剧，这决定着人类要去开发利用可再生能源，可再生能源除了拥有不可再生能源的一切优势外，并不会给人类构成任何危害，能够满足人类对能源的长远需求，为人类创造和平、自由、平等和繁荣，中国的强盛，中华民族的复兴，决定着我们必须拥有稳定的，越来越多的能源，然而，中国的不可再生能源储量低，远远不能满足自身日益增长的能源需求，而且，不可再生能源已经使我们面临着严重的生态危机，因此，我们应该积极开发利用可再生能源，应把可再生能源开发利用列为我国的一项基本国策。     

Bank incentives, contract design and bank runs

We study the Diamond-Dybvig [Bank runs, deposit insurance, and liquidity, J. Polit. Econ. 91 (1983) 401-419] model as developed in Green and Lin [Implementing efficient allocations in a model of financial intermediation, J. Econ. Theory 109 (2003) 1-23] and Peck and Shell [Equilibrium bank runs, J. Polit. Econ. 111 (2003) 103-123]. We dispense with the notion of a bank as a coalition of depositors. Instead, our bank is a self-interested agent with a technological advantage in record-keeping. We examine the implications of the resulting agency problem for the design of bank contracts and the possibility of bank-run equilibria. For a special case, we discover that the agency problem may or may not simplify the qualitative structure of bank liabilities. We also find that the uniqueness result in Green and Lin [Implementing efficient allocations in a model of financial intermediation, J. Econ. Theory 109 (2003) 1-23] is robust to our form of agency, but that the non-uniqueness result in Peck and Shell [Equilibrium bank runs, J. Polit. Econ. 111 (2003) 103-123] is not.     

欧盟可再生能源政策研究

欧盟作为全球温室气体减排行动的积极倡导者,近年来积极引领和推动绿色低碳经济的发展,实现欧洲“再工业化”的战略构想,在可再生能源发展方面成效显著.本文分析了欧盟可再生能源政策的法律基础,研究了欧盟支持和促进可再生能源发展的主要政策措施,特别是欧盟加强可再生能源投资的主要做法,并总结了欧盟成员国支持可再生能源发展的主要财政与金融工具,希望为我国可再生能源发展提供借鉴.     

New technology and restructuring in the UK energy industry: the case of renewable energy

Among the justijcations for the UK government's electricity privatization programme was the suggestion that it would stimulate the development of a range of new supply options, including the UK's extensive renewable energy resource. This paper assesses the prospects for renewable energy technologies i n the UK after privatization. It finds that there is enthusiasm for renewables, but that the market alone will not stimulate renewables effectively or develop them appropriately, and that state support and regulation will be necessary.     

Political construction and control of technology: wave-power renewable energy technologies

Recognizing that gouernment-sponsored research, development and demonstration (R,D&D) is a rentral factor in the construction of new technologies, this paper analyzes selected aspects of the relationships between government officials, 'private' businesses and technologists, within the process of technolog development. Building on precious zoork in the social construction of technology tradition for example, of Hughes, Pinch and Biker) and in technology policy and decision-making theoy (for example, of Collingridge and Morone and Woodhouse), and using the case of wave-power R&D in the UK; the paper identifies characteristics of embryonic technological artefacts and their institutional contexts which tend to bias the socio-political construction process. The key to the paper is the extent to which such distortions lead to unwise, uneconomical and/or unfair innovations or hinder learning about seemingly inflexible technologies, which could help to reduce their complexity, scale or cost.     

Political construction and control of technology: wave-power renewable energy technologies

Recognizing that gouernment-sponsored research, development and demonstration (R,D&D) is a rentral factor in the construction of new technologies, this paper analyzes selected aspects of the relationships between government officials, ‘private’ businesses and technologists, within the process of technolog development. Building on precious zoork in the social construction of technology tradition for example, of Hughes, Pinch and Biker) and in technology policy and decision-making theoy (for example, of Collingridge and Morone and Woodhouse), and using the case of wave-power R&D in the UK; the paper identifies characteristics of embryonic technological artefacts and their institutional contexts which tend to bias the socio-political construction process. The key to the paper is the extent to which such distortions lead to unwise, uneconomical and/or unfair innovations or hinder learning about seemingly inflexible technologies, which could help to reduce their complexity, scale or cost.     

A model of technological breakthrough in the renewable energy sector

Models with induced technological change in the energy sector often predict a gradual expansion of renewable energies, and a substantial share of fossil fuels remaining in the energy mix through the end of our century. However, there are historical examples where new products or technologies expanded rapidly and achieved a high output in a relatively short period of time. This paper explores the possibility of a ‘technological breakthrough’ in the renewable energy sector, using a partial equilibrium model of energy generation with endogenous R&D. Our results indicate, that due to increasing returns-to-scale, a multiplicity of equilibria can arise. In the model, two stable states can coexist, one characterized by a lower and one by higher supply of renewable energy. The transition from the low-output to the high-output equilibrium is characterized by a discontinuous rise in R&D activity and capacity investments in the renewable energy sector. The transition can be triggered by a rise in world energy demand, by a drop in the supply of fossil fuels, or by policy intervention. Under market conditions, the transition occurs later than in the social optimum. Hence, we identify a market failure related to path-dependence and technological lock-in, that can justify a strong policy intervention initially. Paradoxically, well-intended energy-saving policies can actually lead to higher emissions, as they reduce the incentives to invest in renewable energies by having a cushioning effect on the energy price. Hence, these policies should be supplemented by other instruments that restore the incentives to invest in renewable energies. Finally, we discuss the influence of monopoly power in the market for innovations. We show that market power can alleviate the problem of technological lock-in, but creates a new market failure that reduces static efficiency.     

我国可再生能源企业初创期的融资探讨

本文分析了现阶段我国可再生能源企业初创期融资难的原因,根据初创期的融资特,最,借鉴国外发展的相关经验,探讨适合的融资方式.     

欧盟可再生能源技术的研发及发展趋势

从宏观角度,对欧盟促进可再生能源技术发展的战略及相关政策与措施进行分析解读。欧盟 2020 战略确定的促进能源安全及多元化发展和积极应对气候变化的总目标是：能源体系的可持续、可靠性和竞争力。能源技术必须为实现总目标服务,其研发的主要方向是：能源更清洁、更安全,价格更合理。欧盟战略能源技术行动计划（SET－Plan）,旨在制定欧盟中长期战略能源技术的研发创新、成果转化和创新产品及服务的发展战略,包括短期的具体行动计划,也包括建立战略能源技术发展的长效机制。SET－Plan 最重要的行动之一,就是加强成员国之间以及同世界主要能源伙伴国家的国际能源科技合作。     

Determinants of renewable energy adoption in China and India: a comparative analysis

This article examines the dynamic relationships among output, carbon emission and renewable energy generation of India and China during the period 1972 to 2011 using a multivariate vector error correction model (VECM). The results for India reveal unidirectional short-run causality from carbon emission to renewable energy generation and from renewable energy generation to output, whereas in the long run, the variables have bidirectional causality. Causalities in China give a rather different scenario, with a short-run unidirectional causality from output to renewable energy and from carbon emission to renewable energy generation. In the long run, for China, unidirectional causality is found from output to renewable energy generation, while bidirectional causality is found between carbon emission and renewable energy generation.     

Urbanization and renewable and non-renewable energy consumption in OECD countries: An empirical analysis

This article aims to analyse the impact of urbanization on renewable and non-renewable energy consumption in OECD countries by using the STIRPAT model and data for the period of 1980 to 2011. Demographic factors including total population, urbanization and population density are found to be significant factors, particularly with respect to non-renewable energy consumption. The results also reveal that while total population and urbanization positively influence non-renewable energy consumption, population density has a negative impact on non-renewable energy consumption. From the demographic factors only total population has a significant impact on renewable energy consumption. Granger causality results indicate that there is unidirectional causality from non-renewable energy use to population density in the short run. However, no causal linkage is found between urbanization and non-renewable energy use. Likewise, no causal direction is seen between renewable energy use and any of the demographic factors.     

Regulatory design and technical efficiency: public transport in France

The provision of local public transport in France involves private and public firms and the use of incentive contracts to regulate them. We study the effect of these institutional features on the sector’s efficiency using a long panel data of firms, with a two-stage estimation procedure. First, we use nonparametric data envelopment analysis techniques to estimate input usage efficiency, following a conditional approach that controls for differences in the environments in which the firms operate. Second, we estimate semiparametric censored regressions, using fixed effects to control for unobserved sources of heterogeneity. Our results point to a differential effect of private and mixed public-private companies. In particular, having the performance of public operators as the benchmark, efficiency is relatively higher for private firms, but lower when the service is delegated to a mixed public-private firm. In the latter case, the effects diverge by contract type: when the contract is of the cost reimbursement type, performance is lower than the public firm benchmark, while for other contract types, there are no statistically significant differences.     

Political incentives for rent creation

Rent-seeking is often depicted as a contest in which rent-seekers compete for a prize—the rent. In the process of rent-seeking, much or perhaps all of the rent is dissipated through the costs the contestants incur to compete. Rent dissipation is inconsistent with the incentives of both the rent-seekers and those who create the rents. Policymakers have an incentive to create rents only if they gain from the process, and their gain comes from sharing any surplus that goes to those who obtain the rents. A surplus can be created through a barrier to entry into rent-seeking. When institutions that generate barriers to entry into rent-seeking break down, rent-seeking competitions can occur in which all rents are dissipated, but this should be a special case rather than the general rule in rent-seeking.     

CO2 abatement policy with learning-by-doing in renewable energy

This paper analyzes the implications of CO₂ abatement when there is endogenous technological change in renewable energy. A multi-sector numerical general equilibrium model for Denmark is proposed to reflect two basic assumptions about technological progress in renewable energy. First, there is learning-by-doing and unit costs of production are a decreasing function of cumulated output. Second, technological progress only benefits new vintages of capital. The learning-by-doing process is calibrated to match current projections for technological progress in wind-based electricity. The implications are a marked reduction in the total and marginal cost of abatement and a decline in the optimal level of near-term abatement.