DOI: 10.1016/j.enpol.2021.112209
论文题名: The impact of feed-in tariff degression on R&D investment in renewable energy: The case of the solar PV industry
作者: Ma R. ; Cai H. ; Ji Q. ; Zhai P.
刊名: Energy Policy
ISSN: 03014215
出版年: 2021
卷: 151 语种: 英语
中文关键词: Degression rate
; Feed-in tariff
; R&D investment
; Renewable energy
英文关键词: Energy policy
; Financial constraints
; Investment decisions
; Policy instruments
; Real option approaches
; Renewable technology
; Solar photovoltaics
; Solar pv industries
; Technological improvements
; Investments
; alternative energy
; canonical analysis
; energy policy
; investment
; photovoltaic system
; research and development
; solar power
英文摘要: Feed-in tariff (FIT) is a broadly used policy instrument around the world, in which the payment level is always designed to decline gradually in order to track and encourage technological improvement in renewable energy. However, the potential adverse effects of tariff degression on renewable energy research and development (R&D) investment have not been sufficiently addressed. In this paper, we explore the impact of FIT payment degression on renewable energy R&D investment and analyze the efficient FIT payment structure for R&D investment. We form a modeling framework that captures the dynamics of FIT payment levels and the inventor's strategic reactions to tariff changes. In this framework, we model the inventor's optimal R&D investment decisions based on the canonical real option approach and simulate the impact of FIT payment degression on R&D investment and the efficient FIT payment structure under different R&D characteristics using the case of the solar photovoltaic (PV) industry. Our results emphasize the adverse effect of tariff degression on the commercial value of new renewable technology and hence the inventor's incentive in R&D investment, especially when facing more technical uncertainty and financial constraints. Our model could help policymakers to design an efficient FIT payment structure through which the cost of the FIT program is restricted to a minimum level but without influencing the inventor's R&D investment decisions. © 2021 Elsevier Ltd Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/167911
Appears in Collections: 气候变化与战略
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作者单位: School of Business, Macau University of Science and Technology, Avenida Wai Long, Taipa, Macao, China; Institutes of Science and Development, Chinese Academy of Sciences, Beijing, 100190, China; School of Public Policy and Management, University of Chinese Academy of Sciences, Beijing, 100049, China; Business School, Central South University, Changsha, Hunan Province 10083, China
Recommended Citation:
Ma R.,Cai H.,Ji Q.,et al. The impact of feed-in tariff degression on R&D investment in renewable energy: The case of the solar PV industry[J]. Energy Policy,2021-01-01,151