Renewable Energy Policies and Private Sector Investment: Evidence from Financial Microdata

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• 作者：Miguel Cárdenas Rodríguez ; Ivan Ha??i?…
• 关键词：Renewable energy ; Finance ; Investment ; Policy instrument choice ; Technology deployment ; Q42 ; Q48 ; Q54 ; Q55 ; Q58 ; G3 ; H23 ; L94 ; O3
• 刊名：Environmental & Resource Economics
• 出版年：2015
• 出版时间：September 2015
• 年：2015
• 卷：62
• 期：1
• 页码：163-188
• 全文大小：808 KB
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• 作者单位：Miguel Cárdenas Rodríguez (1)
  Ivan Ha??i? (1)
  Nick Johnstone (2)
  Jér?me Silva (1)
  Antoine Ferey (3)
  
  1. Environment Directorate, OECD, Paris, France
  2. Directorate for Science, Technology and Innovation, OECD, Paris, France
  3. ENSAE ParisTech, Malakoff, France
  
• 刊物类别：Business and Economics
• 刊物主题：Economics
  Environmental Economics
  Economic Policy
  Economics
  Environmental Management
  
• 出版者：Springer Netherlands
• ISSN：1573-1502

文摘

This paper analyses the effect of government policies and other determinants on private finance investment in renewable energy. A unique dataset of financial transactions for renewable energy projects is constructed using the Bloomberg New Energy Finance database. The dataset covers 87 countries, six renewable energy sectors (wind, solar, biomass, small hydropower, marine and geothermal) and the 2000-011 time-span. In a first set of models undertaken at the level of the financial deal we find that, in contrast to quota-based schemes, price-based support schemes are positively correlated with private finance contributions. This result holds for complementary analyses undertaken at the level of the project. However, for those projects in which public finance complements private finance (co-financed projects) neither quota-based measures nor price-based support schemes have a significant effect on private finance flows.