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How Can Renewable Portfolio Standards Lower Electricity Prices?

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Author Info
Fischer, Carolyn () (Resources for the Future)

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Abstract

Some studies of renewable portfolio standards find that regulations increase generation costs; others find that reduced demand for nonrenewable energy sources lowers natural gas prices and that electricity prices follow. This paper presents reasoning for why these predictions can vary in the direction as well as in the magnitude of their effects. The driving factors are the relative elasticities of electricity supply from both fossil and renewable energy sources. The availability of other baseload generation is another factor, whereas demand elasticity influences only the magnitude of the price effects, not the direction of those effects.

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Paper provided by Resources For the Future in its series Discussion Papers with number dp-06-20.

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Date of creation: 05 May 2006
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Handle: RePEc:rff:dpaper:dp-06-20

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Related research
Keywords: portfolio standards; natural gas; renewable energy; climate change;

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Find related papers by JEL classification:
Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
H2 - Public Economics - - Taxation, Subsidies, and Revenue

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Krichene, Noureddine, 2002. "World crude oil and natural gas: a demand and supply model," Energy Economics, Elsevier, vol. 24(6), pages 557-576, November. [Downloadable!] (restricted)
  2. Fischer, Carolyn & Newell, Richard, 2004. "Environmental and Technology Policies for Climate Mitigation," Discussion Papers dp-04-05, Resources For the Future. [Downloadable!]
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  3. Burtraw, Dallas & Palmer, Karen, 2005. "Cost-Effectiveness of Renewable Electricity Policies," Discussion Papers dp-05-01, Resources For the Future. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Constant Tra, 2009. "Have Renewable Portfolio Standards Raised Electricity Rates? Evidence from U.S. Electric Utilities," Working Papers 0923, University of Nevada, Las Vegas , Department of Economics. [Downloadable!]
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This page was last updated on 2009-12-30.

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