Tradable green certificates for renewable support: The role of expectations and uncertainty
作者: Magne HustveitJens Sveen FrognerStein-Erik Fleten
作者单位: 1Department of Industrial Economics and Technology Management, Norwegian University of Science and Technology, NO–7491, Trondheim, Norway
刊名: Energy, 2017, Vol.141 , pp.1717-1727
来源数据库: Elsevier Journal
DOI: 10.1016/j.energy.2017.11.013
关键词: Renewable portfolio standardsTradable green certificatesEnergy policyDynamic equilibriumExpectationsUncertainty
原始语种摘要: Abstract(#br)This paper analyzes tradable green certificate markets, where producers investing in new renewable capacity receive certificates based on their production. These are sold to electricity retailers, who are required to buy certificates in an amount proportional to their total sales. To assess the performance of such a scheme, we develop a stochastic model based on dynamic programming. Considering the case of the Swedish–Norwegian electricity certificate market, the main findings include: (i) price expectations are not formed easily, and hence, investment decisions must be made under considerable uncertainty; (ii) under the current market structure, prices are expected to start at today's level, while decreasing steadily towards zero when approaching the planned end of the...
全文获取路径: Elsevier  (合作)
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影响因子:3.651 (2012)

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关键词翻译
关键词翻译
  • expectations 期待的事物
  • uncertainty 不定
  • renewable 可更新的
  • support 支柱
  • green 绿色