气候变化领域集成服务门户(CCPortal): Interaction between CO2 emissions trading and renewable energy subsidies under uncertainty: feed-in tariffs as a safety net against over-allocation

CCPortal

DOI	10.1080/14693062.2019.1625743
	Interaction between CO2 emissions trading and renewable energy subsidies under uncertainty: feed-in tariffs as a safety net against over-allocation
	Lecuyer O.; Quirion P.
发表日期	2019
ISSN	14693062
起始页码	1002
结束页码	1018
卷号	19 期号:8
英文摘要	We study the interactions between a CO2 emissions trading system (ETS) and renewable energy subsidies under uncertainty over electricity demand and energy costs. We develop an analytical model and a numerical model applied to the European Union electricity market in which renewable energy subsidies are justified only by CO2 abatement. We confirm that in this context, when uncertainty is small, renewable energy subsidies are not welfare-improving, but we show that when uncertainty is large enough, these subsidies increase expected welfare because they provide CO2 abatement even in the case of over-allocation, i.e. when the cap is higher than the emissions which would have occurred without the ETS. The source of uncertainty is important when comparing the various types of renewable energy subsidies. Under uncertainty over electricity demand, renewable energy costs or gas prices, a feed-in tariff brings higher expected welfare than a feed-in premium because it provides a higher subsidy when it is actually needed i.e. when the electricity price is low. Under uncertainty over coal prices, the opposite result holds true. Key policy insights Due to the possibility of over-allocation in an ETS, subsidies to renewable energies can increase expected welfare, even when climate change mitigation is the only benefit from renewables taken into account. In most cases studied, a feed-in tariff brings a higher expected welfare than a feed-in premium. The European Commission guidelines on State aid for energy, which incentivize member States to replace feed-in tariffs by feed-in premiums, should be reconsidered based on these results. © 2019, © 2019 Informa UK Limited, trading as Taylor & Francis Group.
英文关键词	ETS; feed-in premium; feed-in tariff; policy interaction; renewable energy; uncertainty; uncertainty
语种	英语
scopus关键词	alternative energy; carbon dioxide; carbon emission; emissions trading; environmental economics; environmental policy; subsidy system; tariff structure; uncertainty analysis
来源期刊	Climate Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/153373
作者单位	AFD (Agence française de développement), Paris, France; CNRS, CIRED, Nogent-sur-Marne, France
推荐引用方式 GB/T 7714	Lecuyer O.,Quirion P.. Interaction between CO2 emissions trading and renewable energy subsidies under uncertainty: feed-in tariffs as a safety net against over-allocation[J],2019,19(8).
APA	Lecuyer O.,&Quirion P..(2019).Interaction between CO2 emissions trading and renewable energy subsidies under uncertainty: feed-in tariffs as a safety net against over-allocation.Climate Policy,19(8).
MLA	Lecuyer O.,et al."Interaction between CO2 emissions trading and renewable energy subsidies under uncertainty: feed-in tariffs as a safety net against over-allocation".Climate Policy 19.8(2019).