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2019
- handle: 10670/1.yc7m6y
- hal: hal-02285599
- doi: 10.1086/705536
- PRODINRA: 483347
- WOS: 000484990300001
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info:eu-repo/semantics/altIdentifier/doi/10.1086/705536
info:eu-repo/semantics/OpenAccess
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Energy resources Power supply Energy Energy Conservation of energy Correlation of forces EnergyCiter ce document
Stefan Ambec et al., « Decarbonizing Electricity Generation with Intermittent Sources of Energy », HAL-SHS : économie et finance, ID : 10.1086/705536
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Résumé
We examine policy instruments that aim to decarbonize electricity production by replacing fossil fuel energy with intermittent renewable sources, namely, wind and solar power. We consider a model of investment, production, and storage with two sources of energy: one is clean but intermittent (wind or solar), whereas the other one is reliable but polluting (thermal power). We first determine the first-best energy mix depending on the social cost of polluting emissions. We then show that, to implement the socially efficient energy mix without a carbon tax, feed-in tariffs and renewable portfolio standards must be complemented with a price cap and volume-limited capacity payments.