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This paper investigates the impacts of economic (in)stability on carbon emissions and the role of renewable energy in these effects at the crossroads of accelerated climate change and rising global economic instability. The paper hypothesizes that these implications should be examined not by direct impacts across variables, but rather via indirect effects serially mediated by renewable energy consumption and economic growth. This paper analyzes the United States from January 1980 and April 2022 using manifest structural equation modeling. The paper reaches two major conclusions. First, there are clear distinctions between (i) the direct and indirect effects of economic stability, surrogated by inflation and policy interest rate, on carbon emissions, (ii) the symmetric and asymmetric indirect effects, and (iii) the roles of aggregate renewable energy and its components, such as biomass and hydropower energy use, in mediating these symmetric and asymmetric indirect effects. Second, renewable energy significantly reduces the carbon-increasing effects of inflation and interest rates. The paper contains proper policy suggestions based on the findings. [ABSTRACT FROM AUTHOR]

The present paper reviews the green hydrogen uptake policies in the United States and the European Union. While the EU has a rather broad public support strategy that envisages the entire hydrogen value chain, the U.S. policies are more focused on hydrogen research hubs and subsidies having electric vehicle applications. From the experience of the solar and wind power rollout of the past three decades, we know that the subsidization schemes of the end product play an important role in the transition to renewables. These kinds of subsidization schemes are still lacking for clean hydrogen both in the EU and the U.S. This paper provides a brief overview of selected subsidization schemes from other renewables markets, which are then applied to define an exemplary subsidization path to empower large-scale growth in a market for green hydrogen. Here is proposed a long-term subsidization scheme – deemed as an adequate strategy for the expansion of clean hydrogen in an electricity mix. The suggested exemplary subsidization path recommends shifting from feed-in tariffs to direct marketing with market premiums once a certain threshold is reached, while both can be flanked by the issuance of a Guarantee of Origin for green hydrogen so that there is one market for hydrogen and another market for the certificates. • -A long-term subsidization scheme for the rollout of green hydrogen in the electricity mixes is proposed. • -An exemplary subsidization path to empower large-scale growth in a market for green hydrogen is drafted. • -U.S. and EU are used as case studies to capture lessons for subsidization of green hydrogen economy uptake. • -The U.S. has more centralized green hydrogen rollout policies, whereas the EU has a wider policy toolkit. • -Shifting from FIT to direct marketing with market premiums is key once a certain pre-defined threshold is reached. [ABSTRACT FROM AUTHOR]

The benefits of biomass as an alternative fossil fuel can be realized mainly through biomass consumption. This paper examines the growth rate and spatial patterns of biomass consumption in the United States (hereafter US) during the period 2000–2012, using the SLOPE index, Moran's I and local Moran's I. Results indicate that US States show either slow growth or slow decline in biomass consumption during the period 2000–2012. The number of States that have slow growth in biomass consumption is slightly larger than the number of States showing slow decline. The pattern of growth rate of biomass consumption revealed by the SLOPE index and the observed pattern of the temporal variation of biomass consumption ensures that the SLOPE index can catch the growth rate of biomass consumption. This pattern does not align with the increased annual investment in biomass, indicating that the investment in biomass does not flow down to the biomass industry effectively. The pattern of growth rate of biomass consumption will provide additional evidence for the debates about the effectiveness of State renewable energy policy, and demonstrates an urgent need for appropriate State renewable energy policies. There is a High-High spatial cluster around the Southeast of the US and a Low-Low spatial cluster in the Middle of the US in 2000, 2004, 2008 and 2012. The regional spatial cluster in biomass consumption has somewhat relationship with the growth rate of biomass consumption, which can help the understanding of the growth rate of biomass consumption. • The SLOPE index is used to investigate the growth rate of biomass consumption. • The pattern of growth rate does not align with the increased annual investment. • There is an urgent need for appropriate State renewable energy policies. • There are regional clusters in biomass consumption in 2000, 2004, 2008 and 2012. • The regional spatial cluster has somewhat relationship with the growth rate. [ABSTRACT FROM AUTHOR]

The ocean plays host to a vast array of sources of energy. These energies simply need to be developed efficiently and effectively, as well as harmonized and collected. This paper will present and discuss two major sources of sustainable ocean energy—wind and wave—which can be combined effectively into one multi-purpose structure. These dynamic structures are emerging as useful in many international settings. However, the United States' (U.S.) areas are slow to adopt. This research presents a hierarchical analysis for decision makers to utilize in strategic offshore location planning with regard to these platforms. Surprisingly, the Gulf of Mexico (GOM) proves to be in a favorable position for entities considering use of such multi-purpose platforms. • Combinatory analysis of energy collection modes. • Provides a conceptual framework using a hierarchical analysis tool. • Optimal location decisions for U.S. coastal regions. [ABSTRACT FROM AUTHOR]

Residential consumers in the U.S. have demonstrated a growing interest in rooftop photovoltaic (PV) systems, resulting in increased adoption over the last decade. However, this has diminished utility revenues, and policymakers have expressed concerns about inequitable consumer access to publicly-funded rooftop PV adoption incentives. In response to these concerns, policymakers and utility companies are changing their policies to discourage rooftop PV adoption. Alternative renewable energy models, such as utility-provided community solar programs, offer a potential solution. However, when designing such programs, it is important to consider the potential impacts on different system stakeholders, including utilities, policymakers, and solar installers. This paper describes an agent-based model that predicts the performance of different residential distributed solar models with respect to these stakeholders' objectives. In this model, consumer agents residing in an urban utility territory decide in each time-step whether they will adopt a particular renewable energy model, and the impacts of their adoption decisions on stakeholder performance metrics are captured over time. Simulation results suggest that if community solar program premium prices are set appropriately, all stakeholders can benefit: the utility can recover part of its revenue losses even as rooftop PV adoption increases, solar installers' businesses can thrive, and increased renewable energy adoption can be achieved equitably. The proposed modeling methodology can help to inform design decisions of distributed solar energy models that avoid benefiting some stakeholders at the unnecessary expense of others. • An agent-based model is developed to study solar adoption in the residential sector. • Consumer adoption behavior is studied for multiple solar-based energy models. • System-level approach with key energy stakeholders' objectives is considered. • Results show all stakeholders can benefit within a mutually beneficial arrangement. • Empirical examples are provided in support of the simulation results. [ABSTRACT FROM AUTHOR]

As the detrimental effects of consuming nonrenewable energy gain the attention of the United States populace, policymakers have shifted their attention to implementing policies that support the development of solar photovoltaic markets. We use the OLS estimator to determine which policy incentives are more effective at increasing the electricity generated from solar photovoltaic at the state level. Policy incentives analyzed in this paper include subsidies, tax incentives, renewable portfolio standards, solar carveouts, interconnection standards, and power purchase agreements. Additionally, we utilize interaction terms to determine if a state's policy portfolio is more effective when the portfolio contains policies targeted toward both creating and expanding the market, as opposed to only creating or expanding the market. The results suggest that renewable portfolio standards are the most effective policy incentives, and policy portfolios including both market creation and expansion policies can be more effective at developing solar photovoltaic markets. [ABSTRACT FROM AUTHOR]

Highlights • We analyze the economic value of a U.S windfarm using long-term LCOE information. • Long-term LCOE of wind energy is obtained from two decades of history. • Monte Carlo and Risk-Neutral valuation is used to valuate a reference windfarm. • Managerial flexibilities and generation cost uncertainty make windfarms more valuable. • Real Option accounts for the flexibility of decision-making with stochastic costs. Abstract Renewable energies are a natural replacement for conventional or fossil fuel energy generation. One of these sources, wind energy, has exhibited significant cost reductions during the last decades. Even though this historical cost reduction trend is well known in the industry and in the academia, information on this cost trend and volatility has been scarcely incorporated in previous works, thus a natural concern arises when assessing their influence on the economic valuation of wind farms. Moreover, wind projects are modular in size and have a short time-to-market, providing a valuable managerial flexibility to defer investment under non-attractive market conditions, such as high development cost scenarios. Traditional evaluation tools often consider those scenarios, wrongly assuming that wind-developers would move forward with the project under such conditions. Accordingly, this paper analyzes the effect of incorporating both generation cost history and investment flexibility in the valuation of wind farms in the United States using Real Options methodology. Taking two decades of cost data and a reference wind farm, this "uncertainty-flexibility" effect is incorporated and valued, finding that the value of the wind project is 14.2% larger than the one neglecting such effect – where cost stochasticity and managerial flexibility are ignored. Therefore, traditional tools for project valuation, such as discounted cash flow and scenario analysis can no longer solely be used, as they do not properly account for the cost reduction trend, uncertainty, and managerial flexibility that a wind farm could face. [ABSTRACT FROM AUTHOR]

Abstract The focus of this paper is to analyse the determinants of wind energy development in the United States and how procedural and regulatory frameworks influence the deployment of wind power facilities. The empirical analysis uses statistical regression models integrating geospatial, macroeconomic and socio-environmental control variables. Using wind penetration as well as wind capacity additions as dependent variable permits a more differentiated analysis of both absolute and relative growth factors. This enables a precise assessment of state-to-state variations in permitting, zoning and siting procedures that wind developers have to clear before being authorised to start construction. Quantifying the number of state-level financial support measures and various permitting and regulatory process stages allowed for a more comprehensive assessment of administrative barriers to wind energy development than prior research studies. The results indicate a partial reversal of previous findings that showed that a high quantity of state-level regulations negatively affects wind capacity additions. Exogenous factors such as the ratio of in-state federal lands, population density, and especially wind energy potential, as well as federal statutes and incentives remain the main drivers of wind capacity additions and overall wind energy penetration. Contrasting prior literature, the influence of localised financial incentives or regulatory approval procedures appears to be minor; therefore streamlining national policies and incentives at the federal level might prove more effective than promoting wind development at the state level. We point out that future research should also examine the role of quality of state-level regulations in addition to quantity. Highlights • Most up-to-date United States state-level study using recent data sets from 2010 to 2016. • Number of financial incentives & regulatory measures are weak growth indicators. • Overall wind potential is the strongest driver of wind development. • Novel dependent variable for wind penetration enables relative growth analysis. • Quantity of environmental regulations did not influence energy growth. [ABSTRACT FROM AUTHOR]

This paper investigates the demand determinants of green power in the U.S. residential sector. The data employed were collected by the National Renewable Energy Laboratory and consist of a cross-section of seven utilities observed over 13 years. A series of tests are performed that resulted in estimating a demand equation using the one-way cross-section random effects model. As expected, we find that demand is highly price inelastic. More interestingly though, is that elasticity with respect to number of customers is 0.52 leading to the conclusion that new subscribers tend to purchase less green power on average than the existing customers. Another compelling finding is that obtaining accreditation will have a 28.5% positive impact on consumption. Knowing that gaining green accreditation is important to the success of programs, utilities may want to seek certification and highlight it in their advertising campaigns. [ABSTRACT FROM AUTHOR]

In recent years, distributed renewable energy-generation technologies, such as wind and solar, have developed rapidly. Nevertheless, the utilization of ultra-low-head (ULH) water energy (i.e., situations where the hydraulic head is less than 3 m or the water flow is more than 0.5 m/s with zero head) has received little attention. We believe that, through technological innovations and cost reductions, ULH hydropower has the potential to become an attractive, renewable, and sustainable resource. This paper investigates potential sites for ULH energy resources, the selection of relevant turbines and generators, simplification of civil works, and project costs. This review introduces the current achievements on ULH hydroelectric technology to stimulate discussions and participation of stakeholders to develop related technologies for further expanding its utilization as an important form of renewable energy. [ABSTRACT FROM AUTHOR]

This paper examines the relationship between renewable energy production and greenhouse gas emissions (GHG) using U.S. state-level data for 2010. After controlling for other sources of emissions, U.S. states that produce a larger share of renewable energy are found to have lower GHG emissions. It is estimated that a 10% increase in the share of renewable energy could decrease CH 4 emissions by about 0.26%. Since the use of renewable energy sources does not release GHG emissions, this effect can be interpreted as stabilizing if renewable energy is added to coal use or as corrective if it replaces coal. After accounting for the role of coal as a baseload power source, an increase in the share of renewable energy is estimated to mitigate N 2 O emissions at the U.S. state level only if states individually decrease their share of coal use to levels below 41.47%. These findings have significant policy implications for the provision of guidance to policymakers in identifying optimal energy mixes and in pursuing realistic goals to enhance renewable energy penetration and to contribute to the current efforts of tackling climate change. [ABSTRACT FROM AUTHOR]

Following four years of relative stability at around $106 per barrel (bbl), oil prices have declined sharply since June 2014 and are expected to remain low for a considerable period of time. There are multiple factors which are being considered behind the plunge in the price of oil since June 2014. Most observers have conjectured that domestic oil boom in the United States and Iraq is the major cause for the falling oil prices. Some have suggested that a major shock to oil price expectations occurred after the November 2014 meeting of OPEC, when they did not cut production despite the steady increase in non-OPEC oil production. In this paper, first we analyzed the effect of various factors on the oil prices and then we studied impacts of the falling oil prices on non-hydro renewable energy. We compare the recent decline in oil prices with previous episodes up to 1996. We show that the demand and supply formula cannot be implemented to the current oil plunge. The study shows that so far the recent plunge in oil prices has produced no major impact on renewable energy sector. We found that renewable energies, such as solar and wind, are increasingly becoming cost competitive with fossil fuel energy. However the oil price crash could hurt the short-term outlook for certain specific clean energy technologies such as bio-fuel and electric vehicles that do compete with oil-based transportation. While long term low oil prices may threaten renewable energies, climate policies have the potential to act as a counterweight, encouraging long-term, low carbon, investment. [ABSTRACT FROM AUTHOR]

Biomass is low-carbon energy and has tremendous potential as an alternative to fossil fuels. However, the significant role of biomass in future low-carbon energy portfolio depends heavily on its consumption. The paper presents a first attempt to examine the spatial-temporal patterns of biomass consumption in the United States (US), using a novel method-spatial Seemingly Unrelated Regression (SUR) model, in order to strengthen the link between energy planning and spatial planning. In order to obtain the robust parameters of spatial SUR models and estimate the parameters efficiently, an iterative maximum likelihood method, which takes full advantage of the stationary characteristic of maximum likelihood estimation, has been developed. The robust parameters of models can help draw a proper inference for biomass consumption. Then the spatial-temporal patterns of biomass consumption in the US at the state level are investigated using the spatial SUR models with the estimation method developed and data covering the period of 2000–2012. Results show that there are spatial dependences among biomass consumption. The presence of spatial dependence in biomass consumption has informative implications for making sustainable biomass polices. It suggests new efforts to adding a cross-state dimension to state-level energy policy and coordinating some elements of energy policy across states are still needed. In addition, results consistent with classic economic theory further proves the correctness of applying the spatial SUR models to investigate the spatial-temporal patterns of biomass consumption. [ABSTRACT FROM AUTHOR]

Renewable energy policies are implemented to promote the diffusion of renewable energy sources within the market. However, their effectiveness on renewable electricity capacity remains subject to uncertainty. This paper addresses what renewable policy instruments are effective ways to increase capacity of renewable energy sources. This study employs a 1990–2008 panel dataset to conduct an econometric analysis of policy instruments, namely, feed-in tariffs, quotas, tenders and tax incentives, in promoting renewable energy deployment in 27 EU countries and 50 US states. The results suggest that renewable energy policy instruments play a significant role in encouraging renewable energy sources, but their effectiveness differs by the type of renewable energy policy instruments. Findings reveal that feed-in tariffs, tenders and tax incentives are effective mechanisms for stimulating deployment capacity of renewable energy sources for electricity, while the other commonly used policy instrument – quota – is not. [ABSTRACT FROM AUTHOR]

Wind-generated electricity is a growing renewable energy resource. Because wind results from the uneven heating (and resulting pressure gradients) of the Earth, future wind resources may be affected by anticipated climate change. Many studies have used global and regional climate models to predict trends in the future wind resource over the continental United States. While some of these studies identified regions that are expected to gain wind energy, their results often come with a high degree of uncertainty, and lack of agreement across different climate models. In this paper we focus on wind energy density as a measure of the available wind resource over the continental United States. We estimate the change in wind energy density from the period 1968–2000 to the period 2038–2070 by using output from four regional climate models from the North American Regional Climate Change Assessment Program (NARCCAP). We find strong agreement across all 4 models that the wind energy resource is expected to increase in parts of Kansas, Oklahoma, and northern Texas – a region already in possession of both large scale generating capacity and political support for wind energy. [ABSTRACT FROM AUTHOR]

This paper explores the different competitive mechanisms applied by electric utilities from the US in promoting cost-effective Distributed Energy Resources (DER) – with a focus on Distributed Generation (DG) – and the challenges that electric utilities are facing due to the increase in DG connections. Cases studies from California, Oregon, Colorado and New York have been selected. The case studies refer to two kinds of competitive mechanisms: Request for Proposals (RFP) and auctions (Renewable Auction Mechanism). A similar behaviour is observed across electric utilities in the way in which competitive auction mechanisms are being managed; however the more sophisticated auction designs are observed in the RFPs. The study proposes a set of auction design elements with a focus on the UK context and examines the role of energy regulators in the design of well-structured auction mechanisms. We think that the experience cited in the four case studies can be replicated by Distribution System Operators (DSOs) from Europe; however unbundling rules established in the European Commission third energy package need to be taken into consideration. [ABSTRACT FROM AUTHOR]

The paper provides a comprehensive empirical assessment of American stimulus policies aimed at renewable energy (RE) technologies. We use an indicator-based methodology to assess progress with respect to energy, environmental and socio-economic issues resulting from RE stimulus programs linked to the American Recovery and Reinvestment Act, and review and analyze the emerging but scattered literature. Overall, our results indicate that stimulus programs have had a positive effect on the RE sector. This is despite the fact that they were originally planned to work in combination with a greenhouse gas ‘cap-and-trade’ system, which has not been implemented. From the methodological perspective, our approach is resource-intensive and our analysis highlights numerous challenges, notably related to causality and additionality. Despite these limitations, this research improves our understanding of the broad effects and impacts of RE stimulus programs. [ABSTRACT FROM AUTHOR]

• Energy efficiency provides substantial carbon dioxide emissions reduction. • Renewable energy sources substantially influences carbon dioxide emissions. • Substantively, renewable energy is slightly more effective than energy efficiency. • Affluence tampers the effectiveness of energy efficiency and renewable energy. This study examines the comparative effectiveness of two important proposed solutions to climate change—energy efficiency improvement and the development and use of renewable energy sources. We focus specifically on their impacts on carbon dioxide emissions by conducting fixed effects regression analysis of panel data pertaining to U.S. states. The analysis reveals a negative relationship between both remedies and carbon dioxide emissions. Although the effects of these potential solutions are statistically equivalent, renewable energy production has a slight edge. Reflecting upon these findings and the larger environmental problem, we caution against exclusive reliance on efficiency improvement and renewable energy to the neglect of other important actions, such as lifestyle modifications. A broad range of social changes, which incorporate the remedies investigated in this paper, are needed to limit long-term global temperature increases to the desired level. [ABSTRACT FROM AUTHOR]

Net metering offers a mechanism for encouraging the localized production of electricity from renewable energy sources. Net metering policymaking is delegated to the state level, affording states flexibility in identifying policy targets (i.e., who can participate in net metering programs and the technologies with which eligible participants can participate), policy instruments (i.e., limits on the amount of electricity eligible for net metering at the customer and programmatic level), and policy incentives (i.e., incentives for program participation). This paper provides a summary of the design of states' net metering policies, in terms of policy targets, instruments, and incentives. Policy design information is juxtaposed with net metering outcome data to discern general patterns among the two. Among the patterns that emerge from the descriptive assessment of the designs of states' net metering policies and net metering outcome data are: net metering policies vary significantly across states; a unique amalgam of legislative and regulatory actions in each state produces policies that may be similar, but just are not the same; cross-state comparisons reveal that some states offer a more hospitable environment for net metering than others; and policy design has varied impacts on policy outcomes. [ABSTRACT FROM AUTHOR]

• We examine the emissions impact of battery storage across sensitivities and regions. • Existing studies focus on dispatch; we show how investment effects drive emissions. • Emissions impacts of storage vary based on policy and market assumptions. • Storage emissions reductions are more likely when wind and solar are lower cost. Battery storage technologies have attracted attention from policymakers for their potential to reduce electric sector emissions by enabling greater wind and solar penetration. Yet existing studies indicate that adding energy storage actually increases emissions. The difference may be explained by the absence in the previous literature of "investment effects" – changes in deployment of other generation technologies after storage is deployed. Our paper tests this hypothesis by evaluating battery-storage-induced emissions changes using a model that accounts for both long-run investment and dispatch effects simultaneously across regions in the United States, which can be used to separate the relative magnitudes of these two effects. Model results indicate that the investment effect dominates the dispatch effect under a range of sensitivities. We find that emissions may increase or decrease with battery storage, depending on policy and market assumptions, with reductions more likely in environments where wind and solar are more economically competitive relative to natural-gas-fired generation. These results suggest that existing studies that only account for operational impacts likely underestimate potential emissions changes from battery storage deployment. [ABSTRACT FROM AUTHOR]