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| DOI | 10.1016/j.enpol.2022.112835 |
| The price of actor diversity: Measuring project developers’ willingness to accept risks in renewable energy auctions | |
| Côté E.; Đukan M.; Pons-Seres de Brauwer C.; Wüstenhagen R. | |
| 发表日期 | 2022 |
| ISSN | 0301-4215 |
| 卷号 | 163 |
| 英文摘要 | Renewable energy (RE) auctions were partly introduced to lower the cost of policy support. However, policymakers are increasingly aware that effective policies require a broader set of objectives that include securing actor diversity and social acceptance. While several countries have introduced measures to incentivize citizen participation in RE projects to meet those objectives, little is known about their effect on the risk perceptions of developers in auction settings. Based on insights from 559 experimental choices made by 61 European project developers, this study investigates risk-return preferences for different onshore wind energy auction designs. We show that developers are willing to accept the requirement to submit bid bonds up to a certain threshold, and that a 36-month realisation period is preferred overall. While developers may be open to citizen co-investment, the risk premiums they require increase with the share of capital offered to local residents in auction settings, highlighting an apparent trade-off between promoting actor diversity and low-cost RE deployment. Policymakers unwilling to compensate developers for the price of increasing actor diversity may have to find other ways to promote citizen participation in order to achieve RE objectives, as this factor may have important implications for the acceptance of RE deployment. © 2022 The Authors |
| 英文关键词 | Choice experiment; Citizen participation; Investment decision; Renewable energy auctions; Risk premium; Social acceptance |
| 语种 | 英语 |
| scopus关键词 | Commerce; Costs; Economic and social effects; Risk assessment; Risk perception; Social aspects; Wind power; Choice experiments; Citizen's participations; Energy auctions; Investment decisions; Policy makers; Project developers; Renewable energies; Renewable energy auction; Risk premium; Social acceptance; Investments; alternative energy; energy policy; local participation; price dynamics; risk assessment; willingness to pay; Europe |
| 来源期刊 | Energy Policy
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/256322 |
| 作者单位 | University of St.Gallen, Institute for Economy and the Environment (IWÖ-HSG), Müller-Friedberg-Str. 6/8, St. Gallen, 9000, Switzerland; DTU Wind Energy, Technical University of Denmark, Frederiksborgvej 399, Roskilde, 4000, Denmark; DTU Management, Sustainability Division, Energy Economics and System Analysis, Technical University of Denmark, Produktionstorvet 421, Lyngby, 2800, Denmark |
| 推荐引用方式 GB/T 7714 | Côté E.,Đukan M.,Pons-Seres de Brauwer C.,等. The price of actor diversity: Measuring project developers’ willingness to accept risks in renewable energy auctions[J],2022,163. |
| APA | Côté E.,Đukan M.,Pons-Seres de Brauwer C.,&Wüstenhagen R..(2022).The price of actor diversity: Measuring project developers’ willingness to accept risks in renewable energy auctions.Energy Policy,163. |
| MLA | Côté E.,et al."The price of actor diversity: Measuring project developers’ willingness to accept risks in renewable energy auctions".Energy Policy 163(2022). |
| 条目包含的文件 | 条目无相关文件。 | |||||
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