Feed-in tariffs with minimum price guarantees and regulatory uncertainty

doi:10.1016/j.eneco.2018.04.028

Utilize este identificador para referenciar este registo: https://hdl.handle.net/1822/65731

Registo completo

Campo DC	Valor	Idioma
dc.contributor.author	Barbosa, Luciana	por
dc.contributor.author	Ferrao, Paulo	por
dc.contributor.author	Rodrigues, Artur	por
dc.contributor.author	Sardinha, Alberto	por
dc.date.accessioned	2020-06-23T10:57:48Z	-
dc.date.available	2020-06-24T06:00:20Z	-
dc.date.issued	2018-05-01	-
dc.identifier.citation	Barbosa, L., Ferrão, P., Rodrigues, A., & Sardinha, A. (2018, May). Feed-in tariffs with minimum price guarantees and regulatory uncertainty. Energy Economics. Elsevier BV. http://doi.org/10.1016/j.eneco.2018.04.028	-
dc.identifier.issn	0140-9883	por
dc.identifier.uri	https://hdl.handle.net/1822/65731	-
dc.description.abstract	The feed-in tariff (FIT) program is a popular policy for incentivizing new renewable energy projects because it establishes a long-term contract with renewable energy investors. This paper presents a novel model to analyze a FIT contract with a minimum price guarantee (i.e., a price-floor regime) from an investor's perspective. The results show that a perpetual guarantee only induces investment for prices below the price floor when offering a risk-free investment opportunity. In contrast, the finite guarantee may induce investment even when the revenue from the guarantee is lower than the investment cost. When an investor faces a scenario with regulatory uncertainty, a higher and more likely reduction in the price floor induces earlier investment. For all cases, investors postpone an investment decision when market conditions present a higher price volatility. (C) 2018 Elsevier B.V. All rights reserved.	por
dc.description.sponsorship	The authors gratefully acknowledge the anonymous reviewers for the many useful suggestions that greatly improved this article. This work was supported by a PhD scholarship provided by Fundacao para a Ciencia e a Tecnologia (FCT) through the MIT Portugal program under project SFRH/BD/52086/2013, and was supported by national funds through Fundacao para a Ciencia e a Tecnologia (FCT) with reference UID/CEC/50021/2013. In addition, this work was carried out within the funding with COMPETE reference no POCI-01-0145-FEDER-006683 (UID/ECO/03182/2013), with the FCT/MEC's (Fundacao para a Cincia e a Tecnologia, I.P.) financial support through national funding and by the ERDF through the Operational Programme on "Competitiveness and Internationalization - COMPETE 2020" under the PT2020 Partnership Agreement.	por
dc.language.iso	eng	por
dc.publisher	Elsevier Science BV	por
dc.relation	info:eu-repo/grantAgreement/FCT/SFRH/SFRH%2FBD%2F52086%2F2013/PT	por
dc.relation	info:eu-repo/grantAgreement/FCT/5876/147282/PT	por
dc.relation	info:eu-repo/grantAgreement/FCT/5876/147291/PT	por
dc.rights	openAccess	por
dc.subject	Real options	por
dc.subject	Feed-in tariff	por
dc.subject	Price-floor regime	por
dc.subject	Regulatory uncertainty	por
dc.title	Feed-in tariffs with minimum price guarantees and regulatory uncertainty	por
dc.type	article	-
dc.peerreviewed	yes	por
oaire.citationStartPage	517	por
oaire.citationEndPage	541	por
oaire.citationVolume	72	por
dc.date.updated	2020-06-23T10:25:30Z	-
dc.identifier.doi	10.1016/j.eneco.2018.04.028	por
dc.subject.wos	Social Sciences	-
sdum.export.identifier	5603	-
sdum.journal	Energy Economics	por
oaire.version	AM	por
Aparece nas coleções:	NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica

Ficheiros deste registo:

Ficheiro	Descrição	Tamanho	Formato
article.pdf		780,42 kB	Adobe PDF	Ver/Abrir

Ver registo simples Sugerir correção Estatísticas

Citations

Altmetrics