A reexamination of renewable electricity policy in Sweden
AbstractGreen certificates are the main instrument for promoting renewable electricity (RES-E) in Sweden. But certificates cover only a limited share of total RES-E production. Under partial coverage, crowding out may arise whereby costly new RES-E replaces inexpensive old RES-E. Granting certificates to all of RES-E production improves efficiency, but leaves windfall rent to otherwise profitable facilities. We also analyze transaction costs in the permit process for new RES-E in Sweden. Municipalities veto socially desirable projects because of asymmetrically distributed investment costs and benefits. We propose market-based permit fees rather than limited veto rights as a solution to this NIMBY problem.
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Bibliographic InfoArticle provided by Elsevier in its journal Energy Policy.
Volume (Year): 58 (2013)
Issue (Month): C ()
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Web page: http://www.elsevier.com/locate/enpol
Crowding out; Green certificates; NIMBY;
Other versions of this item:
- Fridolfsson, Sven-Olof & Tangerås, Thomas, 2012. "A Reexamination of Renewable Electricity Policy in Sweden," Working Paper Series 921, Research Institute of Industrial Economics.
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
- Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Costs; Distributional Effects; Employment Effects
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
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