Energy Policy最新文献

Energy transition has become a priority for utilities worldwide.

Renewable electricity generation represents one of the pillars of the European decarbonization policy and is included among eligible activities in the Taxonomy Regulation.

The limited literature regarding the effects of investments in renewables on the financial performance of firms is fundamentally split in two lines: the first is focused on stock returns, the second concerns the determinants of the financial performance which is measured either through risk or accounting metrics. A limited set of studies has assessed the effects of investments in renewable power generation on the performance of utilities. In this article three linear regression analysis conducted on a panel-data composed of firm-year observations for 64 electric utilities from continental Europe between 2011 and 2020 are presented. The analysis has focused on: (i) profitability (Return-On-Asset), (ii) market valuation (Tobin's q) (iii) risk (Weighted Average Cost of Capital).

The results show that the renewable generation share is significantly and positively correlated with the first two indicators, while not correlated with the cost of capital.

This could represent a constraint to investments in renewable generation capacity with a negative impact on the achievement of the targets of the European decarbonization policy.

China’s pursuit of carbon neutrality has propelled the new energy vehicle industry to global prominence. However, the development of electric vehicles (EVs) is hampered by consumers’ range anxiety, which arises from concerns about battery endurance and the accessibility of charging and swapping stations. To tackle this challenge, the government has implemented some policies, such as dual-credit policy, station-building subsidy and battery R&D subsidy. Considering these initiatives, this study delves into the EV supply chain, examining how policies interact to influence the optimal strategies of EV manufacturers and battery suppliers in terms of technology innovation and infrastructure construction. By constructing a two-tier supply chain game model, we analyze three different scenarios and explore supply chain coordination through contract mechanisms. Our findings reveal the benefits of combined policies in certain situations, highlight the synergy between policies, emphasize the role of policies in shaping contract designs, and provide insights into selecting appropriate contract mechanisms. Furthermore, we offer managerial implications for responding to government incentive policies, aiming to alleviate range anxiety and foster sustainable growth in the new energy vehicle industry.

This paper investigates the adoption trends for energy efficiency (EE) measures in the UK residential sector and the extent to which national-level EE policies impact households' willingness to adopt EE measures and technologies. Using survey data from a representative sample of more than 2000 households across the UK and discrete choice models, this research examines the preferences given to different policy schemes such as tax rebates, grants, loans, easing administrative barriers or information campaigns; and its role on household decisions to adopt EE measures. We find that national-level policies in the form of grants and subsidies, information campaigns on savings and a reduction of administrative barriers would positively impact the probability of a household to adopt such measures. Differences are found between the policy drivers in the adoption of low-cost EE measures e.g. loft insulation vs. High-cost EE measures e.g. heat pumps. Importantly, our results highlight the role of policy mixes in fostering the adoption of EE measures in UK. In combination with other policies, tax credits can be effective in fostering the adoption on EE measures. Our findings have implications for policymakers seeking to enhance the effectiveness of EE policies and address social challenges to promote sustainable energy use.

Exploring the role of digital technology innovation (DTI) on green total-factor energy efficiency (GTFEE) has been theoretically and empirically neglected, despite its recognition as a crucial catalyst for energy transition. This study investigates the nexus between DTI and GTFEE amidst China's uneven regional economic development. Utilizing a panel dataset spanning 30 provinces in China during 2012–2020, we employ the two-stage super network SBM model incorporating undesired outputs (two-stage super-NSBM) to quantify GTFEE. Furthermore, we harness the partially linear function-coefficient (PLFC) model to scrutinize DTI's impact on GTFEE across varying economic development levels. Our findings unveil that: DTI significantly augments GTFEE, particularly in eastern provinces and during the 13th Five-Year Plan period. DTI's influence on GTFEE is contingent upon economic development levels. Specifically, when per capita GDP surpasses 24150.80 yuan, the marginal enhancement effect emerges, progressively intensifying until reaching a steady state. Across different economic development stages, DTI primarily bolsters GTFEE by impacting green total-factor energy usage efficiency (GTFEUE) rather than green total-factor pollution treatment efficiency (GTFPTE). These insights suggest that to expedite GTFEE improvement, the government should foster DTI while accounting for regional economic development disparities.

An increasing number of battery energy storage systems are installed in households globally. These systems are influenced by distinct regulatory frameworks. Internationally, a consolidated regulatory framework for household battery energy storage has yet to emerge. The widely proliferated self-consumption regulation promotes the utilization of battery storage systems to maximize the consumption of self-generated electricity from PV panels. Yet, a large-scale empirical field study evaluating the effect of such regulation is missing. To this end, we present an empirical evaluation of a unique dataset describing the operation of 947 household battery energy storage systems over one year, propose alternative regulatory regimes that we evaluate based on a simulation with the same battery profiles and a survey with 196 respondents evaluating household attitudes towards their battery storage. The results show that the self-consumption promoting regulation leads to almost no additional welfare for the system and even adds costs in some cases that are being socialized among energy consumers. Furthermore, minimal adjustments in the regulation might considerably increase the value of battery storage for households and the system and we find that trust in the supplier might suffice to have households adopt alternative battery storage profiles.

This study explores the relationship between income, dwelling quality, and indoor environmental quality (IEQ) perceptions. We conducted a survey of approximately 1100 Canadian residents from a variety of socioeconomic groups capturing a representative sample of Canadian society. It employs new thresholds to align the subjective perceptions of energy poverty with objective measures. Statistical analyses reveal notable differences in IEQ perceptions among income groups. While high-income respondents consistently express higher satisfaction levels across multiple IEQ domains than middle-income ones, the latter report higher satisfaction levels than those with lower incomes. Wealthier households typically have more rooms, with all income groups reporting a median of three bedrooms. Lower-income respondents tend to spend a larger proportion of their income on energy bills per capita, despite consuming less energy per capita. Around 41% of lower-income respondents report facing challenges in paying utility bills, compared to 24% and 16% in middle- and upper-income groups, respectively. We present energy poverty thresholds that are customized based on survey responses from the different income groups, informing policymakers to consider downward revisions of thresholds to address the subjective aspect of energy poverty better. The unequal IEQ and energy poverty perceptions we document across income groups highlight the need for targeted interventions to improve welfare among vulnerable households.

Adoption of electric stoves and rooftop solar can reduce fossil-fuel reliance and improve health by decreasing indoor air pollution and alleviating energy insecurity. This study assessed prevalence and perceptions of these clean-energy technologies to increase adoption in New York City (NYC). A representative survey of 1950 NYC adults was conducted from February 28 to April 1, 2022. Fourteen percent of people had an electric stove; 86% had gas stoves. Black, Latino/a, and lower-income residents were more likely to have electric stoves than White and higher-income residents. Only 14% of residents were interested in switching from gas to electric stoves. Of the 71% with gas stoves uninterested in switching, nearly half (45%) preferred gas cooking, particularly among White and higher-income residents, indicating a large opportunity to shift preferences. About 5% used solar for their home or building; another 77% were interested in solar. Of the 18% uninterested in solar, reasons included lack of agency, confusion about operation, and costs. Education about health and cost benefits, induction technology, how to transition, available subsidies, and other efforts to reduce adoption barriers can support clean technology uptake. Residential clean energy metrics should be tracked regularly to ensure that technology adoption proceeds equitably.

In alignment with the objectives of the 26th Conference of the Parties (COP26) Summit, this study proposes a sustainable policy framework to facilitate energy transition by enhancing governance quality in OECD countries. The study employs Method of Moment Quantile Regression (MMQR) and Bootstrapped Quantile Regression (BSQR) techniques, examining data from 1995 to 2020. Our findings demonstrate that governance quality plays a crucial moderating role, enabling environmental stringency policies, environmental taxes, and technological advancements to effectively promote energy transition in OECD countries. Furthermore, the results indicate that environmental taxes positively impact energy transition at lower quantiles (20th and 40th); however, an adverse effect is observed at upper quantiles (60th and 80th). Based on these findings, this study recommends comprehensive policies for OECD countries that align with Sustainable Development Goal 7, emphasizing the importance of contextual factors in policy implementation for sustainable energy transitions.

Deregulation in the electricity market can potentially improve electricity production structure and allocate resources more efficiently through competition. This paper leverages the recent electricity market reform in China and uses the difference-in-difference method to study the impact of China’s electricity market reform on the installed capacity and electricity generation from different sources. Our results show that installed capacity growth has slowed down after the electricity market reform in the pilot provinces, suggesting more efficient utilization of existing capacity and reduced need for new capacity. The reform has also boosted the generation of hydropower and suppressed the generation of non-hydro power, such as wind and solar power due to the cost differences in renewable energy production. The reform has also increased the annual utilization hours of wind and solar generators. Our results have important implication on the polices to encourage grid stability and competitiveness with the rapid development of wind and solar power generation.

Financing renewable energy (RE) is essential for transitioning to green energy. Debt finance plays a significant role in shifting from conventional to green energy, with the global percentage of debt financing increasing from 23% in 2013 to 56% in 2020. Previous studies have examined the impact of green finance on RE. This study examines the impact of debt financing on RE capacity in 12 developing countries from 2000 to 2020. Green finance covers various financial tools for environmental sustainability. Therefore, a distinction between green and debt financing impact on RE is essential. The study uncovers a U-shaped relationship between debt financing and RE, suggesting that while initial debt financing may hinder RE deployment beyond a certain level, debt financing promotes RE deployment. The study also draws attention to the influence of financial market conditions, indicating that developing countries can effectively utilize debt finance in favorable financial markets to negate the initial negative impact on RE deployment. These findings offer financial strategists and policymakers valuable insights to support debt financing and increase RE deployment.