Global Expansion of Renewable Energy Generation: An Analysis of Policy Instruments

Sanya Carley, Elizabeth Baldwin, Lauren M. MacLean, Jennifer N. Brass

Research output: Contribution to journalArticlepeer-review

61 Scopus citations

Abstract

This study analyzes the degree to which renewable energy policies, in particular feed-in tariffs and renewable portfolio standards, facilitate renewable energy generation growth across a wide range of countries using an original cross-national dataset of 164 countries between 1990 and 2010. Results provide evidence that both policies are important predictors of renewable energy market growth. The dependent variable is operationalized first as the percentage of total electricity from renewable energy and second as the annual increase in total renewable energy generation in a country. Results are robust to several alternative model specifications including those that exclude hydroelectric generation in the construct of renewable energy. The degree to which feed-in tariffs are endogenous, however, is not conclusive. Besides the prominent role of these policies, results reveal that factors related to annual increases in renewable energy differ from those related to an overall transition toward greater reliance on renewable energy. This suggests that simply increasing renewable generation does not necessarily decrease reliance on fossil fuels or help countries make the shift to a clean energy economy.

Original languageEnglish (US)
Pages (from-to)397-440
Number of pages44
JournalEnvironmental and Resource Economics
Volume68
Issue number2
DOIs
StatePublished - Oct 1 2017
Externally publishedYes

Keywords

  • Electricity markets
  • Energy policy
  • Feed-in-tariff
  • Renewable energy
  • Renewable portfolio standard

ASJC Scopus subject areas

  • Economics and Econometrics
  • Management, Monitoring, Policy and Law

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