• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文会议>IAEE International Conference >Green certificate price uncertainty and renewable energy investment: Evidence from an integration between solar and non-solar renewable energy certificate(REC)markets in Korea
【24h】

Green certificate price uncertainty and renewable energy investment: Evidence from an integration between solar and non-solar renewable energy certificate(REC)markets in Korea

机译：绿色证书价格不确定性和可再生能源投资：来自韩国的太阳能和非太阳能可再生能源证书（REC）市场之间的一体化证据

获取原文
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

A stable income flow from renewable energy certificate(REC)sales is crucial for ongoing business in renewable energy companies.This paper examines the relationship between REC price uncertainty and renewable energy investment.Using a REC market data in Korea,I find that a high level of uncertainty about REC prices discourages renewable energy investment.Given that the decision to invest in renewable projects is highly irreversible,it is optimal to postpone new renewable energy installations until REC price uncertainty is resolved.Solar photovoltaic(PV)is a prime example.Solar project developers significantly reduce new capacity investment in the periods with highly volatile REC prices,while they increase investment when the prices are expected to be stable.I further show that renewable energy firms require more debt and equity financing to proceed a project in the presence of severe uncertainty about REC revenues.This finding suggests that increased dependence on external financing contributes to deter investments in new capacity installations.
机译：来自可再生能源证书（REC）销售的稳定收入流是可再生能源公司的持续业务至关重要。本文审查了康复价格不确定性与可再生能源投资之间的关系。韩国的录R博市场数据，我发现高水平关于恢复价格的不确定性阻碍了可再生能源投资。投资可再生项目的决定是非常不可逆转的，它最佳地推迟了新的可再生能源装置，直到REC价格不确定性得到解决。Solar Photovoltaic（PV）是一个主要的例子。Solar项目开发人员在高度挥发的恢复价格上显着减少了新的能力投资，而当预计价格稳定时它们会增加投资。我进一步表明，可再生能源公司需要更多的债务和股权融资在存在下进行项目关于勘探额的严重不确定性。这一发现表明，增加对外部融资概率的依赖致命导致新能力装置的投资。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号