Learning-by-Doing and the Optimal Solar Policy in California
Much policy attention has been given to promote fledgling energy technologies that promise to reduce our reliance on fossil fuels. These policies often aim to correct market failures, such as environmental externalities and learningby-doing (LBD). We examine the implications of the assumption that L...
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| Veröffentlicht in: | The Energy journal (Cambridge, Mass.) Mass.), 2008-07, Vol.29 (3), p.131-151 |
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| creator | van Benthem, Arthur Gillingham, Kenneth Sweeney, James |
| description | Much policy attention has been given to promote fledgling energy technologies that promise to reduce our reliance on fossil fuels. These policies often aim to correct market failures, such as environmental externalities and learningby-doing (LBD). We examine the implications of the assumption that LED exists, quantifying the market failure due to LBD. We develop a model of technological advancement based on LBD and environmental market failures to examine the economically efficient level of subsidies in California's solar photovoltaic market.Under central-case parameter estimates, including nonappropriable LBD, we find that maximizing net social benefits implies a solar subsidy schedule similar in magnitude to the recently implemented California Solar Initiative. This result holds for a wide range of LBD parameters. However, with no LBD, the subsidies cannot be justified by the environmental externality alone. |
| doi_str_mv | 10.5547/issn0195-6574-ej-vol29-no3-7 |
| format | Article |
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These policies often aim to correct market failures, such as environmental externalities and learningby-doing (LBD). We examine the implications of the assumption that LED exists, quantifying the market failure due to LBD. We develop a model of technological advancement based on LBD and environmental market failures to examine the economically efficient level of subsidies in California's solar photovoltaic market.Under central-case parameter estimates, including nonappropriable LBD, we find that maximizing net social benefits implies a solar subsidy schedule similar in magnitude to the recently implemented California Solar Initiative. This result holds for a wide range of LBD parameters. However, with no LBD, the subsidies cannot be justified by the environmental externality alone.</description><subject>Analysis</subject><subject>Applied sciences</subject><subject>Demand curves</subject><subject>Economic data</subject><subject>Economic externalities</subject><subject>Economic models</subject><subject>Energy</subject><subject>Energy economics</subject><subject>Energy minerals</subject><subject>Energy policy</subject><subject>Energy technology</subject><subject>Environmental policy</subject><subject>Exact sciences and technology</subject><subject>Fossil fuels</subject><subject>General, economic and professional studies</subject><subject>Learning</subject><subject>Natural energy</subject><subject>Net present value</subject><subject>Photovoltaic cells</subject><subject>Renewable energy</subject><subject>Sensitivity analysis</subject><subject>Solar energy</subject><subject>Solar energy industry</subject><subject>Studies</subject><subject>Subsidies</subject><subject>Technological change</subject><subject>Technology application</subject><issn>0195-6574</issn><issn>1944-9089</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2008</creationdate><recordtype>article</recordtype><sourceid>8G5</sourceid><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><sourceid>GUQSH</sourceid><sourceid>M2O</sourceid><recordid>eNqNkl-PEyEUxSdGE2v1I5hM_LOJD6wMwwyQ7Mumrrqm2TVWfSWUXkYaCl2Ybuy3l8lsamr6IDxAyO8cuJxbFG8qfN40lL23KXlciQa1DaMI1ug-OCKQDzVij4pJJShFAnPxuJgcsKfFs5TWOA_K-KS4mIOK3voOLffoQ8ibUvlV2f-C8nbb241y5SI4FcuvwVm9L60vZ8pZE7JIPS-eGOUSvHhYp8WPj1ffZ5_R_PbT9exyjjTHrEdLxlYcWqC8bWuzVHWLTcU5MXoJBFqiQCvdmqbWghFDWsqWJJdHwJCVMILW0-Js9N3GcLeD1MuNTRqcUx7CLslcG-eiwRl89Q-4Drvo89skIQTzVrDB7fUIdcqBtN6EPio9OMrLile8aSklmUInqA48ROWCB2Pz8RF_foLPcwUbq08K3h0JMtPD775Tu5Tk9eLbMXsxsjqGlCIYuY05m7iXFZZDK2TB4mbIWA4Zy6sv8ufQCvIm1JJl-duHb1FJK2ei8tqmgwfJrYBZzmZaiJFLqoO_X_efd7wctevUh3jwplVN6orV9R_jLs8u</recordid><startdate>200807</startdate><enddate>200807</enddate><creator>van Benthem, Arthur</creator><creator>Gillingham, Kenneth</creator><creator>Sweeney, James</creator><general>Energy Economics Education Foundation, Inc</general><general>SAGE Publications</general><general>International Association for Energy Economics</general><general>Sage Publications Ltd. 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| ispartof | The Energy journal (Cambridge, Mass.), 2008-07, Vol.29 (3), p.131-151 |
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| language | eng |
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| subjects | Analysis Applied sciences Demand curves Economic data Economic externalities Economic models Energy Energy economics Energy minerals Energy policy Energy technology Environmental policy Exact sciences and technology Fossil fuels General, economic and professional studies Learning Natural energy Net present value Photovoltaic cells Renewable energy Sensitivity analysis Solar energy Solar energy industry Studies Subsidies Technological change Technology application |
| title | Learning-by-Doing and the Optimal Solar Policy in California |
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