Madlener, Reinhard () (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)) Gao, Weiyu (Shanghai Development Research Center) Neustadt, Ilja () (Socioeconomic Institute, University of Zurich) Zweifel, Peter () (Socioeconomic Institute, University of Zurich)
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The search for economically efficient policy instruments designed to promote the diffusion of renewable energy technologies in liberalized markets has led to the introduction of quota-based tradable 'green' certificate (TGC) schemes for renewable electricity. However, there is a debate about the pros and cons of TGC, a quantity control policy, compared to guaranteed feed-in tariffs, a price control policy. In this paper we contrast these two alternatives in terms of social welfare, taking into account that electricity markets are not perfectly competitive, and show that the price control policy dominates the quantity control policy in terms of social welfare.
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Paper provided by E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN) in its series FCN Working Papers with number
1/2008.
Find related papers by 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
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