IDEAS home Printed from https://ideas.repec.org/a/eee/eneeco/v52y2015is1ps142-s148.html
   My bibliography  Save this article

The future of solar energy: A personal assessment

Author

Listed:
  • Schmalensee, Richard

Abstract

To reduce global carbon dioxide emissions substantially by mid-century, electricity generation from solar energy will likely have to be increased dramatically. While the intermittency of the solar resource and the use of rare elements in some current solar technologies are concerns, the most important barrier to a massive scale-up is the current high cost of solar electricity, which will make a dramatic increase in solar deployment politically difficult in many countries. Ambitious publicly-funded research and development efforts aimed at fundamental advances constitute the most plausible approach to substantial cost reductions. Current deployment support programs are generally inefficient, particularly those that favor residential-scale systems, and are less likely to reduce costs substantially.

Suggested Citation

  • Schmalensee, Richard, 2015. "The future of solar energy: A personal assessment," Energy Economics, Elsevier, vol. 52(S1), pages 142-148.
  • Handle: RePEc:eee:eneeco:v:52:y:2015:i:s1:p:s142-s148
    DOI: 10.1016/j.eneco.2015.08.012
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0140988315002352
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.eneco.2015.08.012?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Daron Acemoglu & Philippe Aghion & Leonardo Bursztyn & David Hemous, 2012. "The Environment and Directed Technical Change," American Economic Review, American Economic Association, vol. 102(1), pages 131-166, February.
    2. Daron Acemoglu & Ufuk Akcigit & Douglas Hanley & William Kerr, 2016. "Transition to Clean Technology," Journal of Political Economy, University of Chicago Press, vol. 124(1), pages 52-104.
    3. Hirth, Lion, 2013. "The market value of variable renewables," Energy Economics, Elsevier, vol. 38(C), pages 218-236.
    4. Paul L. Joskow, 2011. "Comparing the Costs of Intermittent and Dispatchable Electricity Generating Technologies," American Economic Review, American Economic Association, vol. 101(3), pages 238-241, May.
    5. Jacobson, Mark Z. & Delucchi, Mark A., 2011. "Providing all global energy with wind, water, and solar power, Part I: Technologies, energy resources, quantities and areas of infrastructure, and materials," Energy Policy, Elsevier, vol. 39(3), pages 1154-1169, March.
    6. Richard Schmalensee, 2012. "Evaluating Policies to Increase Electricity Generation from Renewable Energy," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 6(1), pages 45-64.
    7. Douglas Hanley & Daron Acemoglu & Ufuk Akcigit & William Kerr, 2014. "Transition to Clean Technology," Working Paper 534, Department of Economics, University of Pittsburgh, revised Jan 2014.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. de Miguel, Carlos & Labandeira, Xavier & Löschel, Andreas, 2015. "Frontiers in the economics of energy efficiency," Energy Economics, Elsevier, vol. 52(S1), pages 1-4.
    2. Ram Bastakoti & Manita Raut & Bhesh Raj Thapa, 2020. "Groundwater Governance and Adoption of Solar-Powered Irrigation Pumps," World Bank Publications - Reports 33245, The World Bank Group.
    3. López Prol, Javier & Steininger, Karl W. & Zilberman, David, 2020. "The cannibalization effect of wind and solar in the California wholesale electricity market," Energy Economics, Elsevier, vol. 85(C).
    4. He Jiang, 2023. "Forecasting global solar radiation using a robust regularization approach with mixture kernels," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 42(8), pages 1989-2010, December.
    5. Zhou, Zhihua & Liu, Yurong & Yuan, Jianjuan & Zuo, Jian & Chen, Guanyi & Xu, Linyu & Rameezdeen, Raufdeen, 2016. "Indoor PM2.5 concentrations in residential buildings during a severely polluted winter: A case study in Tianjin, China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 64(C), pages 372-381.
    6. Wiraditma Prananta & Ida Kubiszewski, 2021. "Assessment of Indonesia’s Future Renewable Energy Plan: A Meta-Analysis of Biofuel Energy Return on Investment (EROI)," Energies, MDPI, vol. 14(10), pages 1-15, May.
    7. O'Shaughnessy, Eric & Cutler, Dylan & Ardani, Kristen & Margolis, Robert, 2018. "Solar plus: Optimization of distributed solar PV through battery storage and dispatchable load in residential buildings," Applied Energy, Elsevier, vol. 213(C), pages 11-21.
    8. Bukhary, Saria & Ahmad, Sajjad & Batista, Jacimaria, 2018. "Analyzing land and water requirements for solar deployment in the Southwestern United States," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 3288-3305.
    9. Seiler, Volker, 2021. "China-to-FOB price transmission in the rare earth elements market and the end of Chinese export restrictions," Energy Economics, Elsevier, vol. 102(C).
    10. O'Shaughnessy, Eric & Nemet, Gregory F. & Pless, Jacquelyn & Margolis, Robert, 2019. "Addressing the soft cost challenge in U.S. small-scale solar PV system pricing," Energy Policy, Elsevier, vol. 134(C).
    11. O'Shaughnessy, Eric, 2022. "How policy has shaped the emerging solar photovoltaic installation industry," Energy Policy, Elsevier, vol. 163(C).
    12. Lau, Lin-Sea & Choong, Yuen-Onn & Wei, Chooi-Yi & Seow, Ai-Na & Choong, Chee-Keong & Senadjki, Abdelhak & Ching, Suet-Ling, 2020. "Investigating nonusers’ behavioural intention towards solar photovoltaic technology in Malaysia: The role of knowledge transmission and price value," Energy Policy, Elsevier, vol. 144(C).
    13. Wu, Qiyan & Zhang, Xiaoling & Sun, Jingwei & Ma, Zhifei & Zhou, Chen, 2016. "Locked post-fossil consumption of urban decentralized solar photovoltaic energy: A case study of an on-grid photovoltaic power supply community in Nanjing, China," Applied Energy, Elsevier, vol. 172(C), pages 1-11.
    14. Burger, Scott P. & Luke, Max, 2017. "Business models for distributed energy resources: A review and empirical analysis," Energy Policy, Elsevier, vol. 109(C), pages 230-248.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. René Aïd & Matteo Basei & Huyên Pham, 2017. "The coordination of centralised and distributed generation," Working Papers hal-01517165, HAL.
    2. Ren'e Aid & Matteo Basei & Huy^en Pham, 2017. "A McKean-Vlasov approach to distributed electricity generation development," Papers 1705.01302, arXiv.org, revised Nov 2019.
    3. Chegut, Andrea & Eichholtz, Piet & Kok, Nils, 2019. "The price of innovation: An analysis of the marginal cost of green buildings," Journal of Environmental Economics and Management, Elsevier, vol. 98(C).
    4. Antosiewicz, Marek & Witajewski-Baltvilks, Jan, 2021. "Short- and long-run dynamics of energy demand," Energy Economics, Elsevier, vol. 103(C).
    5. Song, Malin & Wang, Shuhong, 2016. "Can employment structure promote environment-biased technical progress?," Technological Forecasting and Social Change, Elsevier, vol. 112(C), pages 285-292.
    6. Fabra, Natalia & Montero, Juan Pablo, 2020. "Technology-Neutral vs. Technology-Specific Procurement," CEPR Discussion Papers 15554, C.E.P.R. Discussion Papers.
    7. Lazkano, Itziar & Pham, Linh, 2016. "Do Fossil fuel Taxes Promote Innovation in Renewable Electricity Generation?," Discussion Paper Series in Economics 16/2016, Norwegian School of Economics, Department of Economics.
    8. Lu, Hongyou & Xu, Wenli & Xu, Kun, 2016. "How to Make The Fiscal policies Greener in China?——Based on The Perspective of Environmental Macroeconomics," MPRA Paper 70221, University Library of Munich, Germany.
    9. Jan Witajewski-Baltvilks & Elena Verdolini & Massimo Tavoni, 2015. "Directed Technological Change and Energy Efficiency Improvements," Working Papers 2015.78, Fondazione Eni Enrico Mattei.
    10. Johannes Pfeiffer, 2017. "Fossil Resources and Climate Change – The Green Paradox and Resource Market Power Revisited in General Equilibrium," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 77.
    11. Jan Witajewski-Baltvilks, 2018. "Green Growth and Taste Heterogeneity," IBS Working Papers 07/2018, Instytut Badan Strukturalnych.
    12. Steffen, Bjarne, 2020. "Estimating the cost of capital for renewable energy projects," Energy Economics, Elsevier, vol. 88(C).
    13. Noailly, Joëlle & Smeets, Roger, 2015. "Directing technical change from fossil-fuel to renewable energy innovation: An application using firm-level patent data," Journal of Environmental Economics and Management, Elsevier, vol. 72(C), pages 15-37.
    14. Lööf, Hans & Martinsson, Gustav & Mohammadi, Ali, 2017. "Finance and Innovative Investment in Environmental Technology: The Case of Sweden," Working Paper Series in Economics and Institutions of Innovation 445, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    15. Witajewski-Baltvilks, Jan & Verdolini, Elena & Tavoni, Massimo, 2017. "Induced technological change and energy efficiency improvements," Energy Economics, Elsevier, vol. 68(S1), pages 17-32.
    16. Girol Karacaoglu, 2015. "The New Zealand Treasury's Living Standards Framework - Exploring a Stylised Model," Treasury Working Paper Series 15/12, New Zealand Treasury.
    17. Chiara Ravetti & Tania Theoduloz & Giulia Valacchi, 2020. "Buy Coal or Kick-Start Green Innovation? Energy Policies in an Open Economy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 77(1), pages 95-126, September.
    18. Antoine Dechezleprêtre & David Popp, 2015. "Fiscal and Regulatory Instruments for Clean Technology Development in the European Union," CESifo Working Paper Series 5361, CESifo.
    19. Richard Schmalensee, 2016. "The Performance of U.S. Wind and Solar Generators," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1).
    20. Carsten Helm & Mathias Mier, 2020. "Steering the Energy Transition in a World of Intermittent Electricity Supply: Optimal Subsidies and Taxes for Renewables Storage," ifo Working Paper Series 330, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.

    More about this item

    Keywords

    Renewable; Electricity; Solar; Photovoltaic; Subsidy;
    All these keywords.

    JEL classification:

    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eneeco:v:52:y:2015:i:s1:p:s142-s148. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eneco .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.