Renewable energy production across U.S. states: Convergence or divergence?

IF 13.6 2区 经济学 Q1 ECONOMICS Energy Economics Pub Date : 2024-10-30 DOI:10.1016/j.eneco.2024.108015
James E. Payne , James W. Saunoris , Saban Nazlioglu , Russell Smyth
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Abstract

This study explores the degree to which per capita aggregate renewable energy production is converging across U.S. states. Specifically, we examine both relative (club) convergence and weak σ-convergence. The results reject overall convergence in per capita aggregate renewable energy production for the panel of U.S. states, but identifies two convergence clubs. The results also suggest that there is considerable heterogeneity in the number of convergence clubs for the different subcomponents of per capita renewable energy production and consumption (biomass, geothermal, hydropower, solar and wind). We examine the factors which are associated with the emergence of the convergence clubs at the aggregate level. In the case of per capita aggregate renewable energy production, the average marginal effects from the logit analysis indicate that neighboring states with renewable portfolio standards, mandatory green power options, maximum effective retail rate increase, and per capita CO2 emissions are associated with a higher likelihood of being in the convergence club with higher per capita renewable energy production. However, interconnection standards, having a public benefit fund, renewable energy certificates trading, compliance penalities, and per capita fossil fuel production are correlated with a lower likelihood of being in the convergence club with higher per capita renewable energy production. We also consider the factors correlated with convergence for the subcomponents of per capita renewable energy production and consumption, with the results suggesting considerable heterogeneity of the various factors at the subcomponent level.
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美国各州的可再生能源生产:趋同还是分歧?
本研究探讨了美国各州人均可再生能源总产量的趋同程度。具体而言,我们考察了相对(俱乐部)趋同和弱σ趋同。结果拒绝了美国各州人均可再生能源生产总量的总体趋同,但确定了两个趋同俱乐部。结果还表明,人均可再生能源生产和消费的不同分项(生物质能、地热能、水电、太阳能和风能)的趋同俱乐部数量存在相当大的异质性。我们研究了在总体水平上出现趋同俱乐部的相关因素。就人均可再生能源总产量而言,Logit 分析得出的平均边际效应表明,邻近州的可再生能源组合标准、强制性绿色电力选择、最高有效零售价涨幅和人均二氧化碳排放量都与更高的人均可再生能源产量相关。然而,互联标准、拥有公益基金、可再生能源证书交易、合规处罚和人均化石燃料产量与跻身人均可再生能源产量较高的趋同俱乐部的可能性较低相关。我们还考虑了与人均可再生能源生产量和消费量子项趋同相关的因素,结果表明,在子项层面,各种因素之间存在相当大的异质性。
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来源期刊
Energy Economics
Energy Economics ECONOMICS-
CiteScore
18.60
自引率
12.50%
发文量
524
期刊介绍: Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.
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