What's Powering Wind? The Role of Prices and Policies in Determining the Amount of Wind Energy Development in the United States (1994-2008)
AbstractThis paper focuses on the role of electricity markets and renewable energy regulation in wind development across the United States. My findings, using a random effects Tobit model with a 25-state sample, from 1994-2008, indicate that the implementation of state Renewables Portfolio Standards (RPS), Green Power Purchase programs (GPP), and the Federal Production Tax Credit (PTC) positively influenced a state’s added wind capacity. The influence of GPP programs continued to increase in the years after implementation, while for RPS it diminished. Also, other programs such as State Loan and Grant programs directed at increasing renewable energy development have not had a significant impact on wind capacity. The role of market factors is less significant, although there is some evidence that increases in natural gas prices had a positive influence.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania with number 103599.
Date of creation: 2011
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Wind Energy; Energy Policy; Renewable Energy Development; Environmental Economics and Policy;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-24 (All new papers)
- NEP-ENE-2011-05-24 (Energy Economics)
- NEP-ENV-2011-05-24 (Environmental Economics)
- NEP-REG-2011-05-24 (Regulation)
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- Carley, Sanya, 2009. "State renewable energy electricity policies: An empirical evaluation of effectiveness," Energy Policy, Elsevier, vol. 37(8), pages 3071-3081, August.
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