SMART-SREC: A stochastic model of the New Jersey solar renewable energy certificate market

Markets for solar renewable energy certificates (SRECs) are gaining in prominence in many states, stimulating growth of the US solar industry. However, SREC market prices have been extremely volatile, causing high risk to participants and potentially less investment in solar power generation. Such concerns necessitate the development of realistic, flexible and tractable models of SREC prices that capture the behavior of participants given the rules that govern the market. We propose an original stochastic model called SMART-SREC to fill this role, building on established ideas from the carbon pricing literature, and including a feedback mechanism for generation response to prices. We calibrate the model to the New Jersey market and backtest it, analyzing parameter sensitivity and demonstrating its ability to reproduce historical dynamics. Finally, we run simulations to investigate the role and impact of regulatory parameters, thus providing insight into the crucial role played by market design.     

Europe–Middle East–North Africa cooperation for sustainable electricity and water

This report summarizes the results of two studies of electricity supply for Europe (EU), the Middle East (ME) and North Africa (NA) up to the year 2050. It shows that a transition to competitive, secure and sustainable supply of electricity and water is possible using renewable energy sources, efficiency gains and fossil fuel backup for balancing power. A strong cooperation between the EU and MENA for the market introduction of renewable energy and the interconnection of the electricity grids by high-voltage direct-current transmission are keys to the success and survival of the whole region. However, the necessary measures will take at least two decades to become effective. Therefore, adequate policy and economic frameworks for their realization must be introduced immediately. The importance of sustainable energy for the security of freshwater supplies in MENA is also described.

Economic growth,international trade,and the depletion or conservation of renewable natural resources

Conservation of renewable natural resources and promotion of economic growth are both sustainable development goals. Here, we study the interdependency between economic growth, international trade, and the use of renewable natural resources—under alternative institutional settings of either open access or full property rights—in an endogenous growth model. We find that if the resource is depleted over time, consumption growth is reduced. Economic growth and international trade only impact resource use when the resource is harvested under full property rights. Then, widening international trade can lead countries to shift from conservation to depletion. Changes in the institutional setting of resource use in one country may have repercussions on trading partners. Our results indicate potential trade-offs between the sustainable development goals and imply that policies focusing on resource use or trade (e.g., international trade bans or certified trade) are not sufficient to prevent resource depletion.     

Can climate mitigation help the poor? Measuring impacts of the CDM in rural China

This study examines whether investment in climate change mitigation contributes to poverty alleviation. We investigate the impacts of the renewable energy-based clean development mechanism (RE-CDM) projects on rural communities in China. The impacts of RE-CDM projects are estimated by combining propensity score matching with the difference-in-differences approach. We found that the biomass-based CDM projects significantly contribute to income improvement and employment generation in rural communities in China. Our estimation results also reveal that wind energy-based CDM projects have the potential to increase income and the share of labor force in the primary industry in rural areas. These results suggest different channels through which renewable energy sources affect income.     

Is renewable energy still green? Shaping Australia’s renewable energy enterprise in an age of ecological modernisation

ABSTRACT

Renewable energy (RE) illustrates well the logic of ecological modernisation (EM). This logic has successfully transformed RE from a fringe idea owned by largely environmental actors to a mainstream one embraced by a broader constituency. This mainstream embrace inevitably (re)shapes the renewables enterprise. Not all renewables actors today are driven by environmental goals. Instead, key actors, particularly in corporate or community domains, nurture competing norms and aspirations. How the renewables project is envisaged and the goals it is directed to serve can thus differ considerably. Understanding these differences is important since transformations in the energy domain will not only impact climate protection but shape social futures in significant ways. The analysis proceeds in two interrelated steps: first, empirically – conducting an exploration of some of the main projects and actors in the contemporary Australian RE space; and second, theoretically – considering these empirical developments through an EM lens.     

Explaining support for renewable energy: commitments to self-sufficiency and communion

ABSTRACT

Across the political spectrum, people favour renewable energy. For political liberals, this support has been attributed to concern for the environment; in contrast, the bases of conservatives’ support are less clear. Derived from interviews with a diverse sample of households in Washington State, USA, and a vignette experiment with a representative sample of American households, results show that Democrats (liberals) and Republicans (conservatives) have different moral intuitions, with Democrats emphasizing communion and both Democrats and Republicans valuing self-sufficiency. These findings explain how politically polarized environmental attitudes can exist alongside a shared support for renewable energy. The study therefore contributes to the literature on environmental concern and behaviour, and has implications for policies aimed at increasing adoption of renewable energy as well as pro-environmental behaviour more broadly.     

Build it,but will they come? Evidence from consumer choice between gasoline and sugarcane ethanol

How consumers might switch from gasoline and diesel to alternative energy sources is not known, since the availability of alternatives is currently very limited. To bridge this gap, we exploit exogenous variation in ethanol prices at Brazil's pumps and uncover substantial consumer heterogeneity in the choice between long-established gasoline and an alternative that is similarly available and usable: sugarcane ethanol. We observe roughly 20% of flexible-fuel motorists choosing gasoline when gasoline is priced 20% above ethanol in energy-adjusted terms ($/mile) and, similarly, 20% of motorists choosing ethanol when ethanol is priced 20% above gasoline. We use transaction-level data to explore “non-price” characteristics which differentiate the two goods in the minds of different groups of consumers. Our findings suggest—and a counterfactual illustrates—that switching away from gasoline en masse, should this be desired, would require considerable price discounts to boost voluntary adoption, in the US and elsewhere.     

Carbon neutral Biggar: calculating the community carbon footprint and renewable energy options for footprint reduction

The objective of this research was to develop a community carbon footprint model that could be used to assess the size and major components of a community’s carbon dioxide (CO₂) emissions. The town of Biggar aims to become Scotland’s first carbon neutral town. As expected for this rural community, car transport accounted for nearly half of the CO₂ emissions, with natural gas and electricity consumption resulting in a further 24% and 12% of total emissions, respectively, and air travel being the last major component at 10% of emissions. An assessment was also made of the wind and solar resources of the town. One large wind turbine would provide the town’s electricity, while three to four turbines would be needed to offset all CO₂ emissions. In contrast, offsetting by tree planting would require in the region of 2,000 ha of trees.

Renewable energy potential in India and future agenda of research

ABSTRACT

Demand of electrical energy is exponentially increasing causing environmental problems due to extensive use of fossil fuels. Hence, research has been promoted in renewable energy technologies to mitigate environmental pollution. Indian subcontinent is rich in renewable energy sources (RES). This paper describes potential of RES and region-wise installed capacity in India. Estimated potential of RES is 57 GW which is targeted to be 175 GW by 2022. A logical framework for our future research work has been presented. This includes performance optimisation of solar pumping system and reliability assessments of the designed system using reliability indices.

Abbreviation: RES: Renewable energy resources; SHP: small hydro plants; GOI: Government of India; MNRE: Ministry of New and Renewable Energy; LHP: large hydropower; BCM: billion cubic metres; PEC: per-capita energy consumption; JNNSM: Jawaharlal Nehru National Solar Mission; DNI: direct normal irradiance; SPV: solar photovoltaic; UMPP: ultra mega green solar power project; GIS: geographic information systems; WMS: wind monitoring stations; MPWL: Madhya Pradesh windfarms Ltd.; MIB: mat river basin; SWAT: Soil and Water Assessment Tool; ROR: run of river; SMS: short message service; CDM: clean development mechanism; NIOT: national institute of ocean technology; LOLP: loss of load probability; CSO: Central Statistics Office; CEA: Central Electricity Authority; TERI: The Energy and Resources Institute; WPI: Wind Power India; IEA: International Energy Agency; EAI: Energy Alternatives India; BKP: Biomass Knowledge Portal; IRENA: International Renewable Energy Agency; GAIN: Global Agricultural Information Network; NITI: National Institution for Transforming India; NIWE: National Institute of Wind Energy; UP: Uttar Pradesh; J&K: Jammu and Kashmir; HP: Himachal Pradesh; NR: northern region; MP: Madhya Pradesh; WR: western region; TN: Tamil Nadu; AP: Andhra Pradesh; SR: southern region; ER: eastern region; NER: north eastern region; A&N: Andaman & Nicobar     

Place attachment and public acceptance of renewable energy: A tidal energy case study

Efforts by many governments to mitigate climate change by increasing deployment of renewable energy technologies have raised the importance of issues of public acceptance. The ‘NIMBY’ (Not In My Backyard) concept, although popular, has been critiqued as an appropriate and valid way to explain local opposition. This study applies an alternative approach, empirically investigating the role of place attachment and place-related symbolic meanings in explaining public responses to a tidal energy converter in Northern Ireland, said to be the first grid-connected device of its kind in the world. 271 residents in two nearby villages completed questionnaire surveys, three months post-installation, following up preliminary qualitative research using focus groups. Although results indicated predominantly positive and supportive responses to the project, manifest by emotional responses and levels of acceptance, significant differences between residents in each village were also observed. Contrasting patterns of association between place attachment and emotional responses suggest that the project enhanced rather than disrupted place attachments only in one of the two villages. In regression analyses, place attachment emerged as a significant, positive predictor of project acceptance in both places, affirming its value in explaining public response. Place-related symbolic meanings also emerged as significant, with contrasting sets of meanings proving significant in each context. Implications of the findings for research on place attachment and responses to land-use changes, as well as for developers seeking to engage with residents affected by energy projects are discussed.