Suchergebnisse

Financiado para publicación en acceso aberto: Universidade de Vigo/CISUG ; Governments are implementing massive stimulus fiscal packages to mitigate the economic crisis caused by the coronavirus disease. If policymakers want to stimulate the economy through renewable energy investments, policies must focus on financing as the key priority. This is the lesson we draw from the Spanish wind farms in the past financial crisis. Using an economic approach to the drivers of external finance within the backdrop of Spanish windfarms, this work employs a dataset of 318 projects commissioned throughout 2006–2013. The main conclusion from this study is that the financial crisis of 2008 changed the behaviour of Spanish financial institutions towards renewable projects. The pre-crisis period was a time when costly ventures were prone to a higher debt leverage. Post-crisis times, however, punished these types of projects by curbing their access to financial resources. ; Agencia Estatal de Investigación | Ref. RTI2018-093365-B-I00

We propose the use of a three-level random intercept model to measure the degree of environmental policy performance of different countries and to study its determinants. Inspired by the literature on multilevel latent models and Item Response Theory (IRT), this framework treats policy commitment as a latent variable which is estimated conditional on the difficulty of the policy portfolio implemented by each country. We contribute to the study and scoring of environmental and energy policies in three main ways. First, the model results in a ranking of countries which is conditional on the complexity of their chosen policy portfolio. Second, we provide a unified framework in which to construct a policy indicator and to study its determinants through a latent regression approach. The resulting country ranking can thus be cleaned from the effect of economic and institutional observables which affect policy design and implementation. Third, the model estimates parameters which can be used to describe and compare policy portfolios across countries. We apply this methodology to the case of energy effciency policies in the industrial sectors of 29 EU countries between 2004 and 2011. We conclude by highlighting the future possible applications of this approach, which are not confined to the realm of environmental and energy policy.

Integrated assessment models offer a crucial support to decisionmakers in climate policy making. For a full understanding and corroboration of model results, analysts ought to identify the exogenous variables that influence the model results the most (key drivers), appraise the relevance of interactions, and the direction of change associated with the simultaneous variation of uncertain variables. We show that such information can be directly extracted from the data set produced by Monte Carlo simulations. Our discussion is guided by the application to the well‐known DICE model of William Nordhaus. The proposed methodology allows analysts to draw robust insights into the dependence of future atmospheric temperature, global emissions, and carbon costs and taxes on the model's exogenous variables.

Saudi Arabia's Vision 2030 includes the creation of a value-added tax (VAT), the enactment of domestic energy price reforms, and the deployment of renewable energy. We assess these policy measures' effects on macroeconomic variables using a dynamic general equilibrium model of the Saudi economy. We find that energy price reforms deliver long-run welfare gains that are more than 20% of current consumption, the greatest among the three measures. Introducing a VAT generates welfare gains of up to 4.3% of current consumption. The welfare effects of renewable energy deployment are sensitive to the selected financing scheme. If financing for renewables comes from a reduction in government consumption or transfers to households, no welfare gains are realized. Jointly implementing all three policies increases real gross domestic product (GDP) by 5%, reduces real non-oil GDP by up to 1.8%, and increases welfare by 23.5%–32.4%. ; Agencia Estatal de Investigación, España | Ref. RTI2018-093365-B-I00

Saudi Arabia's Vision 2030 includes the creation of a value-added tax (VAT), the enactment of domestic energy price reforms, and the deployment of renewable energy. We assess these policy measures' effects on macroeconomic variables using a dynamic general equilibrium model of the Saudi economy. We find that energy price reforms deliver long-run welfare gains that are more than 20% of current consumption, the greatest among the three measures. Introducing a VAT generates welfare gains of up to 4.3% of current consumption. The welfare effects of renewable energy deployment are sensitive to the selected financing scheme. If financing for renewables comes from a reduction in government consumption or transfers to households, no welfare gains are realized. Jointly implementing all three policies increases real gross domestic product (GDP) by 5%, reduces real non-oil GDP by up to 1.8%, and increases welfare by 23.5%–32.4%. ; Agencia Estatal de Investigación, España | Ref. RTI2018-093365-B-I00

Each semester the THINK project publishes two research reports based on topics proposed by the European Commission ; QM-31-11-489-EN-C (print) QM-31-11-489-EN-N (online) ; The THINK project (2010-2013) is funded by the European Commission under the Seventh Framework Programme, Strategic Energy Technology Plan. (Call FP7-ENERGY-2009-2, Grant Agreement no: 249736). Coordinator: Prof. Jean-Michel Glachant and Dr. Leonardo Meeus, Florence School of Regulation, Robert Schuman Centre for Advanced Studies, European University Institute