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on Energy Economics |
| By: | Burlig, Fiona PhD; Bushnell, James PhD; Rapson, David PhD; Wolfram, Catherine PhD |
| Abstract: | The widespread adoption of electric vehicles (EV) is a centerpiece of California’s strategy to reach net-zero carbon emissions, but it is not fully known how and where EVs are being used, and how and where they are being charged. California is home to approximately half of the EVs in the United States, yet policymakers attempting to guide transportation electrification lack rigorous estimates of how much electricity EVs are actually using because the majority of EV charging occurs at home, where it is difficult to distinguish from other household uses recorded on the electricity meter. |
| Keywords: | Social and Behavioral Sciences |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt1hw415dp |
| By: | Bailey, Megan (University of Calgary); Brown, David P. (University of Alberta, Department of Economics); Myers, Erica (University of Calgary); Shaffer, Blake (University of Calgary); Wolak, Frank A. (Stanford University) |
| Abstract: | The growth of electric vehicles (EVs) raises new challenges for electricity systems. We implement a field experiment to assess the effect of time-of-use (TOU) pricing and managed charging on EV charging behavior. We find that while TOU pricing is effective at shifting EV charging into off-peak hours, it unintentionally induces new and larger “shadow peaks” of simultaneous charging. These shadow peaks lead to greater exceedance of local capacity constraints and advance the need for distribution network upgrades. In contrast, centrally managed charging solves the coordination problem, reducing transformer capacity requirements, and is well-tolerated by consumers in our setting. |
| Keywords: | Electric Vehicles; Regulation; Rate Design; Field Experiment |
| JEL: | L94 Q41 R40 |
| Date: | 2024–09–10 |
| URL: | https://d.repec.org/n?u=RePEc:ris:albaec:2024_004 |
| By: | Burlig, Fiona PhD; Bushnell, James PhD; Rapson, David PhD; Wolfram, Catherine PhD |
| Abstract: | The widespread adoption of electric vehicles (EV) is a centerpiece of California’s strategy to reach net-zero carbon emissions, but it is not fully known how and where EVs are being used, and how and where they are being charged. This report provides the first at-scale estimate of EV home charging. Previous estimates were based on conflicting surveys or extrapolated from a small, unrepresentative sample of households with dedicated EV meters. We combined billions of hourly electricity meter measurements with address-level EV registration records from California households, including roughly 40, 000 EV owners. The average EV increases overall household load by 2.9 kilowatt-hours per day, well under half the amount assumed by state regulators. Results imply that EVs travel less than expected on electric power, raising questions about transportation electrification for climate policy. |
| Keywords: | Social and Behavioral Sciences, Electric vehicles, electric vehicle charging, energy consumption, households, automobile ownership, low income groups |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt8c20q0rf |
| By: | Ramji, Aditya; Fulton, Lewis |
| Abstract: | Effective policy tools are urgently needed to enable the United States to keep pace with international climate goals. “Feebates”—fees applied to the purchase of vehicles with higher emissions and rebates for clean ones—have become an effective and increasingly common strategy for shaping vehicle markets in European countries. A holistic policy framework that will accelerate the transition to zero emission vehicles (ZEVs) in the US will likely include strong federal policies such as sales mandates, purchase fees for higher emission vehicles, and purchase incentives for ZEVs. Researchers from the University of California, Davis examined what makes a feebate policy work and how this strategy can be leveraged to shift US vehicle markets. The research included a review and analysis of feebate mechanisms in European countries. This policy brief summarizes research findings and provides policy implications. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, electrification, light duty, feebates, taxation, sustainable incentives, market mechanisms, zero emission vehicles, United States, Europe |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt0b31p8t4 |
| By: | Kleeman, Michael PhD |
| Abstract: | The amount of traffic on California’s roadways decreased by approximately fifty percent during the COVID-19 pandemic lockdown in March and April of 2020. Conventional wisdom led to the expectation that reduced traffic would result in reduced ozone (O3) concentrations—ozone being a main component of smog—yet ozone concentrations increased during this period. Internal combustion vehicles emit oxides of nitrogen (NOx) and volatile organic compounds (VOCs). These emissions are precursors for ozone formation, but the relationship between these precursor emissions and the final ozone concentration is complex. The ratio of NOx/VOCs determines if the ozone formation will be “NOx-limited” or “NOx-rich”. Major NOx reductions are required to reduce ozone concentrations when the atmosphere is NOx-rich. Small NOx reductions in a NOx-rich atmosphere can actually increase ozone concentrations. |
| Keywords: | Engineering |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt3q0174d8 |
| By: | Ramji, Aditya; Fulton, Lew; Sperling, Daniel |
| Abstract: | Strong policies are needed to accelerate the zero-emission vehicle (ZEV) transition so that it occurs at a pace in line with international climate goals. The purchase price of new vehicles tends to be the variable that most affects consumer decisions. With urgency for a ZEV transition, fiscal pressure for governments can be high as rebates for consumers and incentives supporting manufacturers in the switch to ZEV technologies will be needed for a mass-market transition. Fees on high-polluting vehicles—and rebates on clean ones—have become an effective and increasingly common strategy in European countries. The feebate mechanism can raise the necessary capital for financing a ZEV transition in combination with other regulatory mechanisms. This paper reviews and assesses feebate design types, issues, and implementation strategies in France, Germany, Italy, Sweden, and the United Kingdom. These examples show that feebates can be designed in a variety of ways to meet unique policy objectives and that periodic adjustments are helpful in achieving goals. Among twelve design considerations for an effective feebate, the authors find that: (1) focusing on a single fee parameter, such as CO2 emissions, can be a simple yet effective mechanism; (2) a continuous functional form for the fee and a stepwise rebate are likely to be most effective in driving EV adoption; and (3) pure feebates, where fee revenue funds EV incentives by program design, provide certainty for manufacturers, regulators, and consumers. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, electrification, light duty, feebates, taxation, Europe |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt73z6j5v1 |
| By: | Ramji, Aditya; Fulton, Lew; Sperling, Daniel |
| Abstract: | The United States (US), under the Biden Administration, has set a goal of reaching a 50% sales share for zero-emission vehicles by 2030. The administration is pursuing a combination of aggressive fuel economy and greenhouse gas performance standards along with tax credits for consumers who purchase electric vehicles (EVs). Given the anticipated high costs of the EV transition and limited public funds, policy mechanisms that generate extra-budgetary funding are enticing. Feebates—where a fee charged on some purchases is used to offer a rebate for others—can serve as a self-sustaining tool. Feebates have been attempted at the state and federal level in the US but did not pass legislatures due to a lack of political support for levying a fee on internal combustion engine (ICE) vehicles. However, as governments face increasing fiscal constraints, there is greater support for self- funding EV incentive programs. Feebate policies can provide certainty for both producers and consumers to facilitate a steady transition to sustainable transportation. This paper assesses the potential utility of feebates for shaping the US light-duty vehicle market. The analysis demonstrates that: (1) revenue-neutral incentive systems are possible and (2) revenue-neutrality can be achieved with relatively low fees on ICE vehicles to support economic equity among buyers. From an industry perspective, market certainty can be created by incorporating fuel economy targets into a fee schedule as pivot points and allocating fees to finance rebates. This would likely influence industry investment decisions in ways that increase EV production and model availability. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, sustainable incentives, market mechanisms, electrification, ZEV transitions, United States |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt6qx2x5zz |
| By: | Lipman, Timothy PhD; Busch, Pablo; Collins, Stephanie; Horvath, Arpad PhD; Kendall, Alissa PhD; Coffee, Daniel; Kong, David |
| Abstract: | There is growing interest in the use of hydrogen as a transportation fuel but the environmental benefits of using hydrogen depend critically on how it is produced and distributed. Leading alternatives to using fossil natural gas to make hydrogen through the conventional method of steam methane reforming include using electrolyzers to split water into hydrogen and oxygen, and the use of biogas as an alternative feedstock to fossil natural gas. This report examines the latest carbon intensity (CI) estimates for these and various other hydrogen production processes, adding important nuances to the general “colors of hydrogen” scheme that has been used in recent years. CI values for hydrogen production can vary widely both within and across hydrogen production pathways. The lowest CI pathways use biomass or biogas as a feedstock, and solar or wind power. The report also analyses jobs creation from new hydrogen production facilities and shows that these benefits can be significant for large-scale facilities based on either future biomass/biogas-to-hydrogen or solar-hydrogen production technologies. Recommendations include setting stricter goals for the state’s Low Carbon Fuel Standard (LCFS) program to continue to reduce the carbon footprint of California’s transportation fuels. |
| Keywords: | Engineering, Hydrogen fuels, hydrogen production, hydrogen storage, greenhouse gases, jobs |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsrrp:qt0310t8kx |
| By: | Audi, Marc |
| Abstract: | Global warming and climate change represent more than just an environmental crisis; they are urgent issues exacerbated by the era of neoliberal globalization. This has become a global problem and is increasingly posing a significant threat to human security. Addressing this crisis necessitates the unity of developed and emerging countries to fortify international regimes aimed at controlling this environmental threat. A robust awareness among global communities is essential to exert pressure on both developed industrial and emerging countries. This pressure is necessary to reduce the consumption of fossil-based energies. At the same time, it is crucial to enhance the capacity of international regimes, making their roles more effective in managing the environmental crisis. Without collective action from the leaders of developed and emerging countries, along with heightened global awareness, the ongoing environmental crisis will inevitably lead to the destruction of our planet. The environmental crisis, driven by climate change, is a complex issue that demands comprehensive and coordinated international efforts. Developed countries, with their significant historical contributions to greenhouse gas emissions, have a responsibility to lead by example in reducing fossil fuel consumption and transitioning to sustainable energy sources. Emerging countries, which are rapidly industrializing and increasing their carbon footprints, must also commit to sustainable development practices. Global cooperation is vital in creating and enforcing international policies that address climate change. This includes agreements such as the Paris Agreement, which aims to limit global temperature increases and reduce greenhouse gas emissions. Strengthening these international regimes requires not only political commitment but also financial and technological support to help countries implement sustainable practices. Furthermore, raising awareness among global populations is critical. Public understanding and engagement can drive grassroots movements and put pressure on governments and corporations to adopt environmentally friendly policies. Education and advocacy play key roles in building this awareness and fostering a culture of sustainability. The environmental crisis posed by global warming and climate change is a pressing global threat that requires united action from both developed and emerging countries. Strong international regimes and heightened global awareness are crucial in mitigating this crisis. Only through collective effort and shared responsibility can we hope to protect our planet and ensure a sustainable future for all. |
| Keywords: | Global Warming, Climate Change, International Cooperation |
| JEL: | O44 Q54 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121586 |
| By: | Lorenz Dögnitz; Théo Konc; Linus Mattauch |
| Abstract: | Besley and Persson (2023) pioneer a political economy model of a green transition with changing preferences. Here we solve for the optimal policy intervention and find that the optimal tax on the polluting good starts high and is subsequently declining, to support the transition in preferences. We quantify the welfare loss of ignoring preference changes. |
| Keywords: | Endogenous preferences, green transition, carbon tax, political economics, intertemporal optimisation |
| JEL: | D62 H23 Q54 |
| Date: | 2024–09–03 |
| URL: | https://d.repec.org/n?u=RePEc:bdp:dpaper:0047 |
| By: | Violaine Faubert; Nathan Guessé; Julien Le Roux |
| Abstract: | This paper analyses who controls the capital of global listed companies involved in the mining of critical raw materials (CRM). While the very high geographical concentration of resources is well documented, the ownership interests in extractive companies is less so. Yet documenting the sources of control of mining companies is essential for assessing strategic dependencies. We contribute to fill this gap by developing a detailed database documenting the origins and characteristics of shareholders of global listed companies involved in the mining of cobalt, copper, lithium, nickel and rare earths. We designed several indicators for the sake of robustness, including production- and market capitalization-weighted holding rates, complemented by indicators focusing on majority holdings thresholds. In fact, holding shares above a certain threshold allows investors to exert a strong influence on the decisions of their executive boards. We highlight the discrepancy that can prevail between the geographical distribution of production and that of investors. We also document the preponderance of strategic investors like state-owned enterprises in the ownership of CRM firms. All indicators suggest that non-EU investors control a significant share of the capital of the leading CRM mining companies. Our results underpin the need to enhance the EU’s strategic autonomy and suggest a need for a metal-specific strategy. |
| Keywords: | Energy Transition, Critical Raw Materials, Geo-Economic Fragmentation, Ownership, Economic Security, Strategic Autonomy |
| JEL: | Q02 Q5 Q42 L72 G3 Q3 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:bfr:banfra:952 |
| By: | Andrea Mazzon; Peter Tankov |
| Abstract: | Aiming to analyze the impact of environmental transition on the value of assets and on asset stranding, we study optimal stopping and divestment timing decisions for an economic agent whose future revenues depend on the realization of a scenario from a given set of possible futures. Since the future scenario is unknown and the probabilities of individual prospective scenarios are ambiguous, we adopt the smooth model of decision making under ambiguity aversion of Klibanoff et al (2005), framing the optimal divestment decision as an optimal stopping problem with learning under ambiguity aversion. We then prove a minimax result reducing this problem to a series of standard optimal stopping problems with learning. The theory is illustrated with two examples: the problem of optimally selling a stock with ambigous drift, and the problem of optimal divestment from a coal-fired power plant under transition scenario ambiguity. |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2408.09349 |
| By: | Estévez, Andrés; Tovar Reaños , Miguel |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:esr:wpaper:wp784 |
| By: | Cazzola, Pierpaolo; Murphy, Colin; Kang, Laedon; Ro, Jin Wook; Wolff, Christoph; Teter, Jacob |
| Keywords: | Engineering, Social and Behavioral Sciences |
| Date: | 2024–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt36f1f2zh |
| By: | Shutian Cui; Renlong Wang; Xiaoyan Li |
| Abstract: | Regional differences in carbon emission efficiency arise from disparities in resource distribution, industrial structure, and development level, which are often influenced by government policy preferences. However, currently, most studies fail to consider the impact of government policy preferences and data uncertainty on carbon emission efficiency. To address the above limitations, this study proposes a hybrid model based on $\delta$-slack-based model ($\delta$-SBM) and ordinal priority approach (OPA) for measuring carbon emission efficiency driven by government policy preferences under data uncertainty. The proposed $\delta$-SBM-OPA model incorporates constraints on the importance of input and output variables under different policy preference scenarios. It then develops the efficiency optimization model with Farrell frontiers and efficiency tapes to deal with the data uncertainty in input and output variables. This study demonstrates the proposed model by analyzing industrial carbon emission efficiency of Chinese provinces in 2021. It examines the carbon emission efficiency and corresponding clustering results of provinces under three types of policies: economic priority, environmental priority, and technological priority, with varying priority preferences. The results indicate that the carbon emission efficiency of the 30 provinces can mainly be categorized into technology-driven, development-balanced, and transition-potential types, with most provinces achieving optimal efficiency under the technology-dominant preferences across all policy scenarios. Ultimately, this study suggests a tailored roadmap and crucial initiatives for different provinces to progressively and systematically work towards achieving the low carbon goal. |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2408.11600 |
| By: | Musakwa, M.T; Odhiambo, N.M |
| Abstract: | The causal relationship between urbanisation, energy consumption, and economic growth was examined for South Africa using annual data from 1990 -2021. The growing need for economies to bounce back after the COVID-19 pandemic and catch up with national economic plans and the Sustainable Development Goals (SDGs) motivated a relook at the important factors that influence economic growth. This study used two measures of energy consumption, namely electricity consumption and total energy consumption. Employing autoregressive distributed lag (ARDL) to cointegration and error correction model (ECM)- based Granger-causality test, the study found unidirectional causal flow from energy consumption to urbanisation in the short run regardless of the energy consumption measure used, and the same causal flow in the long run when total energy consumption was used. The study found a unidirectional causality from urbanisation to economic growth. A bidirectional causality between economic growth and electricity, while no causality was confirmed when total energy consumption was used. The findings from this study confirm the importance of energy consumption and urbanisation in driving economic growth. Policy recommendations are discussed. |
| Keywords: | Public debt Malawi; government debt; debt management; sustainability |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:uza:wpaper:31546 |
| By: | Subir Majumder; Ignacio Aravena; Le Xie |
| Abstract: | In recent years, power grids have seen a surge in large cryptocurrency mining firms, with individual consumption levels reaching 700MW. This study examines the behavior of these firms in Texas, focusing on how their consumption is influenced by cryptocurrency conversion rates, electricity prices, local weather, and other factors. We transform the skewed electricity consumption data of these firms, perform correlation analysis, and apply a seasonal autoregressive moving average model for analysis. Our findings reveal that, surprisingly, short-term mining electricity consumption is not correlated with cryptocurrency conversion rates. Instead, the primary influencers are the temperature and electricity prices. These firms also respond to avoid transmission and distribution network (T\&D) charges -- famously known as four Coincident peak (4CP) charges -- during summer times. As the scale of these firms is likely to surge in future years, the developed electricity consumption model can be used to generate public, synthetic datasets to understand the overall impact on power grid. The developed model could also lead to better pricing mechanisms to effectively use the flexibility of these resources towards improving power grid reliability. |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2408.12014 |
| By: | Wiame Skhairi (ENCGT - Ecole Nationale de Commerce et de Gestion de Tanger - UAE - Abdelmalek Essaadi University [Tétouan] = Université Abdelmalek Essaadi [Tétouan]); Badr Abouzaid (ENCGT - Ecole Nationale de Commerce et de Gestion de Tanger - UAE - Abdelmalek Essaadi University [Tétouan] = Université Abdelmalek Essaadi [Tétouan]) |
| Abstract: | Over the last few years, there has been a surge of interest in the green supply chain and sustainability within academic circles, research communities, and educational institutions. This growing interest can be attributed to the complex environmental challenges posed by global climate change, the global pandemic (COVID-19), uncertain demand, and the emphasis on corporate social responsibility (CSR). This article aims to consolidate previous research efforts, identify key trends and gaps in the field, and understand the impact of green logistics and CSR on the sustainable development (SD) of companies through a comprehensive analysis of papers and articles. We adopted the PRISMA Statement (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) approach to conduct a systematic review. The results highlight a positive correlation between green logistics, CSR, and SD, with organizations reporting lower operating costs due to improved energy efficiency and effective management practices. To gain deeper insights into the opportunities and challenges unique to each area, future research may involve conducting detailed empirical investigations and engaging in interviews with organizations. This literature survey offers a broad perspective on SD and the green supply chain. In order to support well-informed decisionmaking and strategic planning in the field of corporate sustainability, this literature review offers a comprehensive viewpoint on SD in connection to the green supply chain. |
| Keywords: | Green logistics sustainable development sustainable supply chain CSR organizational performance. JEL Classification: Q56 Paper type: Theoretical Research, Green logistics, sustainable development, sustainable supply chain, CSR, organizational performance. JEL Classification: Q56 Paper type: Theoretical Research |
| Date: | 2024–08–13 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04677146 |
| By: | Marianne de Paepe (MICALIS - MICrobiologie de l'ALImentation au Service de la Santé - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Laurent Jeanneau (GR - Géosciences Rennes - UR - Université de Rennes - INSU - CNRS - Institut national des sciences de l'Univers - OSUR - Observatoire des Sciences de l'Univers de Rennes - UR - Université de Rennes - INSU - CNRS - Institut national des sciences de l'Univers - UR2 - Université de Rennes 2 - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - CNRS - Centre National de la Recherche Scientifique); Jerôme Mariette (MIAT INRAE - Unité de Mathématiques et Informatique Appliquées de Toulouse - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Olivier Aumont (NEMO R&D - Nucleus for European Modeling of the Ocean - LOCEAN - Laboratoire d'Océanographie et du Climat : Expérimentations et Approches Numériques - MNHN - Muséum national d'Histoire naturelle - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - SU - Sorbonne Université - CNRS - Centre National de la Recherche Scientifique - IPSL (FR_636) - Institut Pierre-Simon-Laplace - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - UVSQ - Université de Versailles Saint-Quentin-en-Yvelines - CEA - Commissariat à l'énergie atomique et aux énergies alternatives - INSU - CNRS - Institut national des sciences de l'Univers - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - CNES - Centre National d'Études Spatiales [Toulouse] - SU - Sorbonne Université - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité); André Estevez-Torres (LJP - Laboratoire Jean Perrin - SU - Sorbonne Université - CNRS - Centre National de la Recherche Scientifique - IBPS - Institut de Biologie Paris Seine - INSERM - Institut National de la Santé et de la Recherche Médicale - SU - Sorbonne Université - CNRS - Centre National de la Recherche Scientifique, LASIRE - Laboratoire Avancé de Spectroscopie pour les Intéractions la Réactivité et l'Environnement - UMR 8516 - INC-CNRS - Institut de Chimie - CNRS Chimie - Université de Lille - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Despite increasing interest for the carbon footprint of higher education institutions, little is known about the carbon footprint associated to research activities. Air travel and attendance to conferences concentrate recent data and debates but purchases have attracted little attention. Here we develop a hybrid method to estimate the greenhouse gas emissions (GHG) associated to research purchases. To do so, we combine macroeconomic databases, research-centered companies footprints and life-cycle assessments to construct a public database of monetary emission factors (EF) for research purchases. We apply it to estimate the purchases emissions of a hundred of research laboratories in France, belonging to the Labos 1point5 network and gathering more than 20000 staff, from all disciplines. We find that purchases dominate laboratory emissions, accounting for more than 50% of emissions, with a median of 2.7 t CO$_2$e/pers, which is 3 to 4-fold the separate contribution from travel, commutes and heating. Median electricity emissions are 5-fold lower in our dataset of laboratories using low carbon electricity but they become preponderant for high carbon electricity mixes (3.5 t CO$_2$e/pers). Purchases emissions are very heterogeneous among laboratories and are linearly correlated with budget, with an average carbon intensity of 0.31 ± 0.07 kg CO$_2$/€ and differences between research domains. Finally, we quantify the effect of a series of demand-driven mitigation strategies obtaining up to −20% in total emissions (−40% in purchases emissions), suggesting that effectively reducing the carbon footprint of research activities calls for systemic changes. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04666497 |
| By: | Swapnil Rayal; Apurva Jain; Matthew Lorig |
| Abstract: | Each household in a population characterized by income heterogeneity faces random demand for electricity and decides if and when it should adopt a solar product, rooftop solar or community solar. A central planner, aiming to meet an adoption level target within a set time, offers net metering and subsidy on solar products and minimizes its total cost. Our focus is on analyzing the interactions of three new features we add to the literature: income diversity, availability of community solar, and consideration of adoption timing. {Methodology and results:} We develop a bilevel optimization formulation to derive the optimal subsidy policy. The upper level (planner's) problem is a constrained non-linear optimization model in which the planner aims to minimize the average subsidy cost. The lower level (household's) problem is an optimal stopping formulation, which captures the adoption decisions of the households. We derive a closed-form expression for the distribution of optimal adoption time of households for a given subsidy policy. We show that the planner's problem is convex in the case of homogeneous subsidy for the two products. {Managerial implications:} Our results underscore the importance for planners to consider three factors - adoption level target, time target, and subsidy budget - simultaneously as they work in tandem to influence the adoption outcome. The planners must also consider the inclusion of community solar in their plans because, as we show, community and rooftop solar attract households from different sides of the income spectrum. In the presence of income inequality, the availability of community makes it easier to meet solar adoption targets. |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2408.11970 |
| By: | Guanie Lim (National Graduate Institute for Policy Studies, Tokyo, Japan); Chen Li (The Chinese University of Hong Kong, Hong Kong); Wellington N.K Aweke (Ministry of Finance, Ghana) |
| Abstract: | The newly elected Labour government of the United Kingdom (UK) introduced the National Wealth Fund (NWF) in July 2024, a £7.3 billion ($9.34 billion) initiative aimed at bolstering investment in key infrastructure projects, particularly in industries crucial for the green energy transition. The NWF is intended to attract private sector investment, with the government partly sharing the financial risk of costly projects with long gestation period. Chancellor Rachel Reeves describes the fund as a ‘concierge’ for investors, designed to streamline investment into the UK. However, there is debate about whether the NWF is an orthodox sovereign wealth fund found in countries with budget and/or trade surpluses such as Norway and Singapore. Instead, it appears more akin to a development or strategic sovereign wealth fund, channelling capital towards industries critical to the UK’s long term economic health. The fund’s initial budget, although significant in and of itself, pales in comparison to the world’s largest sovereign wealth funds and may fall short of the estimated £50-60 billion ($64-77 billion) needed annually to meet the UK’s net zero goals. Additionally, concerns have been raised about the fund’s sustainability and whether it can effectively address the UK’s underinvestment malaise, which stems from structural factors such as a blocker-friendly planning system and post-Brexit political uncertainties. |
| Keywords: | Sovereign Wealth Funds, United Kingdom, Net Zero, Public Investment, Market Failure, Critical Industries |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:ngi:dpaper:24-09 |
| By: | Musakwa, M.T |
| Abstract: | Purpose: In this study, the impact of access to electricity on poverty reduction is examined using annual data from 1990 to 2021 for Botswana. The study was motivated by the need to establish if access to electricity could be a panacea on poverty reduction in Botswana. Given that the United National Sustainable Development Goal deadline is fast approaching, and Botswana being one of the signatories, is expected to end poverty in all its forms ? Goal 1. Establishing the role that electrification plays in poverty alleviation helps in refocusing Botswana?s poverty alleviation strategies on factors that have high impact on poverty. The main objective of this study, therefore, is to investigate the relationship between poverty alleviation and access to electricity in Botswana.Approach: The study uses the autoregressive distributed lag (ARDL) approach to investigate the nature of the relations. Two poverty proxies were used in this study namely, household consumption expenditure and life expectancy.Findings: The study found access to electricity to reduce poverty in the long run and in the short run, regardless of the poverty measure used. Thus, access to electricity plays an important role in poverty alleviation and Botswana is recommended to continue with the rural and urban electrification initiatives.Originality: The study explores the impact of access to electricity on poverty reduction in Botswana, a departure from current studies that examined the same relationship using energy consumption in general. This is on the back of increasing dependence of economic activities on electricity as a major source of energy. |
| Keywords: | Electricity; Botswana; autoregressive distributed lag; poverty; life expectancy; household consumption expenditure |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:uza:wpaper:31544 |
| By: | Maria Teresa Punzi (Singapore Management University) |
| Abstract: | This paper analyses the effectiveness of macroprudential policy on macro-financial fluctuations when the government enforces carbon pricing to reduce carbon emissions and achieve the net-zero target. A carbon tax policy alone can reduce carbon emissions by 2030, but at the cost of a deep and prolonged recession, with consequential financial instability due to a higher probability of default on entrepreneurs in the brown sector. This result suggests that carbon pricing should be coupled with complementary policies, such as macroprudential policy. In particular, differentiated LTV ratios and differentiated capital requirements that penalise the brown sector in favour of the green sector tend to decrease the probability of default in the green sector and encourage green lending in supporting the transition to a green economy. However, such policies have little contribution in offsetting the negative impact on the macroeconomy. More stringent levels of prudential regulations are needed to reduce the fall in GDP and consumption. More specifically, the “one-forone†prudential capital requirements on fossil fuel financing can effectively reduce defaults and move to a greener economy. |
| JEL: | E32 E44 E52 G18 G50 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:svk:wpaper:1107 |
| By: | Joseph Ikechukwu Uduji (University of Nigeria, Nsukka, Nigeria); Nduka Elda Vitalis Okolo-Obasi (University of Nigeria, Nsukka, Nigeria); Joy Ukamaka Uduji (Enugu State, Nigeria); Longinus Chukwudi Odoh (University of Nigeria, Nsukka, Nigeria); Deborah Chinwendu Otei (University of Nigeria, Nsukka, Nigeria); Happiness Ozioma Obi-Anike (University of Nigeria, Nsukka, Nigeria); Emmanuel Ejiofor Nwanmuoh (University of Nigeria, Nsukka, Nigeria); Kristopher Onyekachi Okezie (University of Nigeria, Nsukka, Nigeria); Oliver Uzonna Ngwuoke (University of Nigeria, Nsukka, Nigeria); Benjamin Uchemefuna Ojiula (University of Nigeria, Nsukka, Nigeria) |
| Abstract: | There have been increasing demands on multinational oil companies (MOCs) to provide community development programmes and security to their host communities in Nigeria. This is mainly because developmental projects and security are lacking in most of these communities and most of the time they are not provided by government. Thus, we set out to examine the impact of MOCs’ Corporate Social Responsibility (CSR) model on cutting the main drivers cum prompters of herder-farmer violence in the Niger Delta expanse of Nigeria. Results from the use of both propensity score matching and logit model indicate that, though, a very skimpy part of the CSR intervention are specifically aimed at alleviating herder-farmer conflict, the CSR has made momentous impact in the drops in land deprivation, social disparities, pressure over land as well as bettering people’s lives in the region. The finding suggests that MOCs are well positioned to tackle the drivers and triggers of farmer-herder violence, when investment in cluster development boards (CDBs) is designed to improve land management infrastructure, train local leaders in dispute resolution techniques, and prioritize trust between communities and the security forces. This implies that business has an obligation to help in solving problems of public concern. |
| Keywords: | Herder-farmer conflict, corporate social responsibility, multinational oil companies, sub-Saharan Africa |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:agd:wpaper:24/024 |
| By: | Moon, Jin-Young (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Na, Seung Kwon (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Lee, Sunghee (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Eunmi (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | 국제사회는 ‘안정적인 에너지 확보’와 ‘탄소중립 달성’이라는 두 가지 도전 과제에 직면해 있다. 본 연구는 에너지안보를 에너지 전환 관점에서 재정립하고, 탄소중립과 에너지안보 차원에서 주요 쟁점과 국제협력 사례를 종합적으로 분석하였다. 이를 토대로 탄소중립 추진 과정에서 에너지안보를 강화하기 위한 대응과 국제협력 방안을 제시하였다. The international community is faced with the dual challenges of securing stable energy and achieving carbon neutrality. This study approaches energy security from the perspective of energy transition and comprehensively analyzes key issues and cases of international cooperation in the area of carbon neutrality and energy security. Building on this analysis, the study offers implications for governmental measures to enhance energy security while facilitating the transition towards carbon neutrality. Chapter 2 summarizes the concept of energy security from the perspective of energy transition. Energy security includes energy availability, accessibility, affordability and acceptability. The focus shifts from the availability and accessibility of fossil fuels to that of clean energy during the energy transition period. Price is important in the clean energy transition. It is also important to ensure stable and environmentally sustainable energy transition. Furthermore, fostering international collaboration to overcome individual country-level limitations serves as a cornerstone for contributing to global carbon neutrality while advancing energy conversion schemes. (the rest omitted) |
| Keywords: | stable energy; carbon neutrality; energy security; international coopeartion |
| Date: | 2023–12–29 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kieppa:2023_006 |
| By: | Su Jung Jee; Kerstin H\"otte; Caoimhe Ring; Robert Burrell |
| Abstract: | This study investigates the controversial role of Intellectual Property Rights (IPRs) in climate technology transfer and innovation in developing countries. Using a systematic literature review and expert interviews, we assess the role of IPRs on three sources of climate technology: (1) international technology transfer, (2) adaptive innovation, and (3) indigenous innovation. Our contributions are threefold. First, patents have limited impact in any of these channels, suggesting that current debates over IPRs may be directed towards the wrong targets. Second, trademarks and utility models provide incentives for climate innovation in the countries studied. Third, drawing from the results, we develop a framework to guide policy on how IPRs can work better in the broader context of climate and trade policies, outlining distinct mechanisms to support mitigation and adaptation. Our results indicate that market mechanisms, especially trade and demand-pull policies, should be prioritised for mitigation solutions. Adaptation differs, relying more on indigenous innovation due to local needs and low demand. Institutional mechanisms, such as finance and co-development, should be prioritised to build innovation capacities for adaptation. |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2408.12338 |
| By: | Nils M. Gornemann; Sebastian Hildebrand; Keith Kuester |
| Abstract: | In a simple New Keynesian open economy setting, we analyze how local input shortages influence policy transmission and equilibrium determinacy. Shortages increase the elasticity of the local price of the scarce factor to domestic economic activity, affecting the cyclicality of marginal costs and incomes. As a result, the slope of both the Phillips and the IS curve is altered, crucially influencing monetary and fiscal policy transmission. These changes are affected by factor ownership and propensities to consume. Theoretically, shortages can also raise the risk of self-fulfilling fluctuations if a rising price of the constrained factor boosts incomes for agents with high propensities to consume. We illustrate these channels for the 2022 German energy crisis. |
| Keywords: | Supply constraints; Heterogeneous households; Monetary transmission; Transfer multiplier; Sunspots |
| JEL: | E31 E32 E52 F41 Q43 |
| Date: | 2024–08–27 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgif:1395 |
| By: | Sri Kusumastuti Rahayu; Bambang Sulaksono; Sri Budiyati; Wawan Munawar; Musriyadi Nabiu; Hastuti; Akhmadi |
| Keywords: | fuel, unconditional cash transfer, Revolving Fund Program, savings and loans cooperative, microfinance institution |
| URL: | https://d.repec.org/n?u=RePEc:agg:wpaper:3673 |
| By: | Brown, David P. (University of Alberta, Department of Economics); Olmstead, Derek E. H. (University of Calgary); Shaffer, Blake (University of Calgary) |
| Abstract: | The electricity sector is going through a period of rapid transition with increasing decarbonization through the growth of renewable energy. In this paper, we consider the case of Alberta which has observed considerable growth in wind and solar generation capacity. We summarize the attributes of Alberta’s energy-only market design and how it interacts with increasing renewable output. We highlight emerging challenges that need to be addressed through careful market redesign and provide a summary of key market design changes that can help more cost-effectively and reliably integrate the growing renewable resources. We discuss ongoing policy developments related to Alberta’s market design. The experiences in Alberta can serve to inform market design in other jurisdictions as regulators work to enact policies to facilitate a higher renewable energy future. |
| Keywords: | Electricity Markets; Regulatory Policy; Renewables; Reliability |
| JEL: | L51 L94 Q28 Q48 |
| Date: | 2024–08–18 |
| URL: | https://d.repec.org/n?u=RePEc:ris:albaec:2024_003 |
| By: | Strauch, Rebecca; Jansesberger, Viktoria; Koos, Sebastian; Spilker, Gabriele |
| Abstract: | Environmental degradation, ranging from air and water pollution to land degradation and climate change, often generates discontent and grievances among affected populations. Such dissatisfaction with living conditions can foster political unrest, as individuals may protest publicly to voice their concerns and demand action from authorities. In light of increasing climate change and its widespread impacts, scholars have questioned whether environmental changes could become a destabilizing factor, promoting overall levels of unrest. To address this issue, several related questions concerning the nature of environmental mobilization must be explored: Have environmental issues become more prominent in protests? If so, which specific issues are mentioned and in which regions are they most vocalized? Additionally, are environmental protests systematically different from other forms of political protest, perhaps by attracting more participants or more frequently involving violent tactics? To better understand the origins and dynamics of environmental mobilization, we present a new dataset covering environmental protests in the Global South. This region, despite its low historical emissions, is particularly affected by environmental issues linked to climate change. Our dataset geo-codes environmental dissent at both national and local levels, identifies actors and political demands, and collects information on violence and repression. This new data enhances the scope of existing research and provides a robust foundation to address the research questions introduced. |
| Keywords: | Environmental degradation, climate change, protest, mobilization |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cexwps:301855 |
| By: | Heller, Anna Lena; Brunzema, Iska; Schlomann, Barbara |
| Abstract: | Energy poverty, characterized by a lack of access to reliable and affordable energy services, persists to be a critical global challenge with far-reaching socio-economic implications. As this also remains to be an urgent issue in the EU, measures alleviating energy poverty are critical to ensure a just energy transition. Instead of being a co-benefit of packages such as the Energy Efficiency first principle and only tackling the issue via social policies, the recast of the Energy Efficiency Directive (EED) and the Energy Performance of Buildings Directive (EPBD) mandate are treating energy poverty via energy efficiency measures. Thus, this paper focuses on energy efficiency policies that address energy poverty, based on the MURE database which contains energy efficiency measures of the EU Member States, Switzerland, and Energy Union partners. Recognizing the diverse nature of energy poverty across the EU, the European Commission guides Member States to adopt individualized approaches to combat this issue. To illustrate the different contexts and strategies, the paper includes case studies from Greece, Finland, Ireland, Latvia, and India. In the upcoming years, further policy measures alleviating energy poverty are to be expected due to the new requirements for the Member States in the EED and EPBD recast. This paper is intended to show examples of measures alleviating energy poverty that could be used to implement the future EU requirements in the Member States. |
| Keywords: | Energy poverty, energy efficiency policy, EU policy, case studies, reporting requirements |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:fisisi:302185 |
| By: | Zakaria Hireche (Blida2 University Lounici Ali); Moussa Boucheneb (UMBB - Université M'Hamed Bougara Boumerdes) |
| Abstract: | Germany has sought to accomplish an energy transition by progressively shifting from dependence on fossil fuel sources to reliance on various forms of renewable energy sources. This transition is facilitated through the implementation of a range of legislative measures that align with the goals of the energy transition program. Furthermore, Germany leads in European scientific research, prioritizing the involvement of the private sector. These initiatives have resulted in positive outcomes in the German energy market, prompting the development of infrastructure for renewable energy sources.Consequently, their contribution to Germany's energy supply has seen a gradual rise. |
| Keywords: | Energy transition renewable energies depleted energy resources. JEL Classification Codes: P28 Q49, Energy transition, renewable energies, depleted energy resources. JEL Classification Codes: P28, Q49 |
| Date: | 2024–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04678775 |
| By: | Martijn I. Dröes (University of Amsterdam); Yasmine Van Der Straten (University of Amsterdam) |
| Abstract: | This article examines the rate at which different households go green and how this affects the distribution of both wealth and CO2 benefits. Using a unique dataset from the Netherlands, we find that lower-income households are less likely to make their homes more energy efficient. At the same time, higher-income households sort themselves into homes that are already more energy efficient to begin with. Over a 15-year horizon, the combined effect on energy savings accumulates to 17% of median net wealth, with ex ante sorting explaining 65% of this effect. Although a policy that encourages lower-income households to own energy-efficient homes reduces wealth inequality and poverty, it leaves 83% of the potential CO2 benefits unrealized because the brownest households are in the upper part of the income distribution. Our results indicate that there is a policy trade-off between sheltering low-income households against climate risk on the one hand and effectively reducing CO2 emissions on the other. |
| Keywords: | Energy efficiency, home improvement, wealth inequality, CO2 emissions |
| JEL: | D31 Q41 Q43 Q54 R31 |
| Date: | 2024–04–17 |
| URL: | https://d.repec.org/n?u=RePEc:tin:wpaper:20240026 |
| By: | Ansari, Dawud; Gehrung, Rosa Melissa; Pepe, Jacopo Maria |
| Abstract: | Derzeit verschärft sich der Wettbewerb um die CO2-Abscheidung und ‑Speicherung sowie ‑Nutzung (CCS/CCU). Bislang (noch) von Nordamerika dominiert, sind es nun insbesondere Akteure im Großraum Asien - von Saudi-Arabien bis Japan -, die diese Technologien vorantreiben. In deren sich abzeichnender Geopolitik geht es (für Energie-Geopolitik untypisch) weniger um Rohstoffe, sondern eher um Technologie, Geologie und vor allem Industrieführerschaft. Einerseits erfordern die Entwicklungen, dass Deutschland und Europa ihr klimaaußenpolitisches Verständnis wie auch ihre Instrumente pragmatisch anpassen. Andererseits sollte mit der Technologie proaktiv umgegangen werden, um in Technologie und Industrie nicht den Anschluss zu verlieren. |
| Keywords: | Abscheidung, Speicherung, Nutzung von CO2, CC(U)S (Carbon Capture (Utilisation) and Storage, Direct Air Carbon Capture and Storage (DACCS), blauer Wasserstoff, Energiewende, Pariser Abkommen, arabische Golfstaaten, Australien, Japan, Korea, Indonesien, Malaysia, China, USA, Kanada, "technopolitics", Geopolitik, Energie-Geopolitik, Industrieführerschaft, Technologie-Wettbewerb, Klimaaußenpolitik, Lieferketten |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:swpakt:302117 |
| By: | Manel Soury (AMU - Aix Marseille Université, AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Over the years, oil prices and financial stock markets have always had a complex relationship. This paper analyzes the interactions and co-movements between the oil market (WTI crude oil) and two major stock markets in Europe and the US (the Euro Stoxx 50 and the SP500) for the period from 1990 to 2023. For that, I use both the time-varying and the Markov copula models. The latter one represents an extension of the former one, where the constant term of the dynamic dependence parameter is driven by a hidden two-state first-order Markov chain. It is also called the dynamic regime-switching (RS) copula model. To estimate the model, I use the inference function for margins (IFM) method together with Kim's filter for the Markov switching process. The marginals of the returns are modeled by the GARCH and GAS models. Empirical results show that the RS copula model seems adequate to measure and evaluate the time-varying and non-linear dependence structure. Two persistent regimes of high and low dependency have been detected. There was a jump in the co-movements of both pairs during high regimes associated with instability and crises. In addition, the extreme dependence between crude oil and US/European stock markets is time-varying but also asymmetric, as indicated by the SJC copula. The correlation in the lower tail is higher than that in the upper. Hence, oil and stock returns are more closely joined and tend to co-move more closely together in bullish periods than in bearish periods. Finally, the dependence between WTI crude oil and the SP500 stock index seems to be more affected by exogenous shocks and instability than the oil and European stock markets. |
| Keywords: | dynamic copula, regime switching, dependence, GARCH models, oil and stock markets |
| Date: | 2024–05–24 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04678669 |
| By: | Luisa Corrado (DEF, University of Rome "Tor Vergata"); Stefano Grassi (DEF, University of Rome "Tor Vergata"); Aldo Paolillo (DEF, University of Rome "Tor Vergata"); Francesco Ravazzolo (Free University of Bozen-Bolzano) |
| Abstract: | This work studies the turbulent confluence of two major events - the COVID-19 pandemic and the Russian invasion of Ukraine - both of which caused significant disruptions in global energy demand and macroeconomic variables. We propose and estimate a two-sector Dynamic Stochastic General Equilibrium model that incorporates both crude and refined energy sources, thus combining together the multifaceted dynamics of the energy sector, where crude elements like oil, coal, and gas are intertwined with other production components. The model describes the transmission of energy shocks through complementarities in production and consumption, as a mechanism that amplifies the fluctuations of the business cycle. We find that the impact of price shocks on oil, coal, and gas accounts for 32% of the increase in the general price level between 2021:Q1 and 2022:Q4, and that oil and gas price shocks contributed most significantly. Finally, we discuss the case in which energy shocks can be Keynesian supply shocks. |
| Date: | 2024–08–30 |
| URL: | https://d.repec.org/n?u=RePEc:rtv:ceisrp:582 |
| By: | Eduard Hromada (Vysoká ?kola CEVRO); Klara Cermakova (Vysoká ?kola CEVRO); Lucie Kurekova (Vysoká ?kola CEVRO); Bozena Kaderabkova (Vysoká ?kola CEVRO) |
| Abstract: | This paper examines the evolving landscape of the real estate market in the Czech Republic from 2018 to 2023, focusing on apartment pricing trends, the impact of socio-economic factors, apartment sizes and layouts, energy efficiency in residential buildings, and distinctions between ownership types. The study categorises Czech cities into different price tiers and discusses the implications of these categories for potential investors, homebuyers and policymakers. It also examines the standardisation of apartment layouts across cities, the gradual improvement in energy efficiency ratings, and the shift from co-operative and state-owned/community owned to private ownership. The results show a general upward trend in house prices, interrupted by a slight decline in 2023 due to higher mortgage rates triggered by the Czech National Bank's anti-inflationary measures. The expected future easing of these rates should stimulate the market's recovery. This comprehensive analysis helps to delineate key trends and offers a deeper understanding of the factors shaping the Czech Republic's real estate market, providing valuable insights for stakeholders in the sector. |
| Keywords: | Real estate market, pricing trends, apartment layouts, energy efficiency, property ownership, socio-economic factors, market analysis, housing affordability, investment opportunities. |
| JEL: | O18 R31 R21 |
| URL: | https://d.repec.org/n?u=RePEc:sek:iefpro:14416303 |
| By: | Josué, ANDRIANADY; E. ALIDA, Camara; Randrianantenaina, Kantotiana S.; M. Andreas, Jonathan |
| Abstract: | This research investigates the multifaceted relationship between tourism, economic growth, and carbon emissions in Madagascar. Regression analyses were conducted to examine the impact of tourism receipts on economic growth and tourist arrivals on CO2 levels. The results indicate a significant positive association between tourism and economic growth, highlighting the sector’s pivotal role in driving Madagascar’s economy. Conversely, tourist arrivals were found to contribute to increased carbon emissions, emphasizing the need for sustainable tourism practices to mitigate environmental impacts. Additionally, recommendations are provided for enhancing road infrastructure, promoting ecotourism, diversifying touristic offerings, digitizing tourism services, promoting environmental sustainability, investing in continuous training for tourism personnel, and fostering public-private partnerships to stimulate further development in Madagascar’s tourism sector. |
| Keywords: | Tourism, Economic Growth, Environ mental Sustainability, Econometrics, Carbon Emis sions, Madagascar, Regression Analysis, Sustainable Development, Public-PrivatePartnerships, Diversifica tion, Ecotourism |
| JEL: | A1 E0 E6 Q0 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121648 |
| By: | C. Winkler; H. Heinrichs; S. Ishmam; B. Bayat; A. Lahnaoui; S. Agbo; E. U. Pe\~na Sanchez; D. Franzmann; N. Oijeabou; C. Koerner; Y. Michael; B. Oloruntoba; C. Montzka; H. Vereecken; H. Hendricks Franssen; J. Brendt; S. Brauner; W. Kuckshinrichs; S. Venghaus; D. Kone; B. Korgo; K. Ogunjobi; J. Olwoch; V. Chiteculo; Z. Getenga; J. Lin{\ss}en; D. Stolten |
| Abstract: | Green hydrogen is a promising solution within carbon free energy systems with Sub-Saharan Africa being a possibly well-suited candidate for its production. However, green hydrogen in Sub-Saharan Africa is not yet investigated in detail. This work determines the green hydrogen cost-potential for green hydrogen within this region. Therefore, a potential analysis for PV, wind and hydropower, groundwater analysis, and energy systems optimization are conducted. The results are evaluated under local socio-economic factors. Results show that hydrogen costs start at 1.6 EUR/kg in Mauritania with a total potential of ~259 TWh/a under 2 EUR/kg in 2050. Two third of the regions experience groundwater limitations and need desalination at surplus costs of ~1% of hydrogen costs. Socio-economic analysis show, that green hydrogen deployment can be hindered along the Upper Guinea Coast and the African Great Lakes, driven by limited energy access, low labor costs in West Africa, and high labor potential in other regions. |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2408.10184 |
| By: | Hong Xu |
| Abstract: | The global momentum towards establishing sustainable energy systems has become increasingly prominent. Hydrogen, as a remarkable carbon-free and renewable energy carrier, has been endorsed by 39 countries at COP28 in the UAE, recognizing its essential role in global energy transition and industry decarbonization. Both the European Union (EU) and China are at the forefront of this shift, developing hydrogen strategies to enhance regional energy security and racing for carbon neutrality commitments by 2050 for the EU and 2060 for China. The wide applications of hydrogen across hard-to-abate sectors and the flexibility of decentralized production and storage offer customized solutions utilizing local resources in a self-paced manner. To unveil the trajectory of hydrogen development in China and the EU, this paper proposes a comparative analysis framework employing key factors to investigate hydrogen developments in both economic powerhouses. Beyond country-wise statistics, it dives into representative hydrogen economic areas in China (Inner Mongolia, Capital Economic Circle, Yangtze River Delta) and Europe (Delta Rhine Corridor) for understanding supply and demand, industrial synergy, and policy incentives for local hydrogen industries. The derived implications offer stakeholders an evolving hydrogen landscape across the Eurasian continent and insights for future policy developments facilitating the global green transition. |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2408.08874 |
| By: | Alejandro Hirmas (University of Amsterdam); Jan B. Engelmann (University of Amsterdam) |
| Abstract: | Sustainability ratings help consumers understand the environmental impact of their purchases. Such ratings have increased the consumers’ sustainable choices in the electrodomestics and housing markets. In the particular case of energy labels, sustainable products are also associated with private benefits due to future cost reductions in energy expenditure. These results question the potential effectiveness of sustainability ratings for other products, such as food, where the link between environmental and private benefits is less clear. In two incentivized experiments (N=749), we study how consumers use sustainability ratings when these ratings are dissociated from private benefit, i.e. product quality. Participants chose between two products based on their quality and sustainability, which were presented in separate rating scales, alongside the products’ prices. Furthermore, we study how consumers integrate the usage of ratings with other information provided from other sources. Halfway through the experiment, we provide information regarding the underlying value behind the ratings. Using a between-subject design, we modify the information provided and analyze the impact of such information on the participants’ subsequent choices. Our findings indicate that even when sustainability ratings are not connected to the products’ quality, participants make use of them to decide which products to buy. We also find that participants underreact to new information, and make inefficient choices based on their decisions from before. Moreover, to track the participants’ attention and analyze potential heterogeneous usage of the information we use process-tracing methods. We find that participants show highly heterogeneous attention patterns, which are linked to differential weighting of the product’s attributes (price, quality, and sustainability) during the decision. While our information treatment has little effect on attention allocation to individual attributes, participants correctly recall the information at the end of the experiment. These results suggest that participants partially neglect new information, and anchor to their initial decision rules formed before the information treatments. |
| Keywords: | Attention, Sustainability ratings, conjoint analysis, information treatments, Mouselab |
| JEL: | D81 D83 D87 D91 |
| Date: | 2024–04–10 |
| URL: | https://d.repec.org/n?u=RePEc:tin:wpaper:20240024 |