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https://hdl.handle.net/1822/65731
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Campo DC | Valor | Idioma |
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dc.contributor.author | Barbosa, Luciana | por |
dc.contributor.author | Ferrao, Paulo | por |
dc.contributor.author | Rodrigues, Artur | por |
dc.contributor.author | Sardinha, Alberto | por |
dc.date.accessioned | 2020-06-23T10:57:48Z | - |
dc.date.available | 2020-06-24T06:00:20Z | - |
dc.date.issued | 2018-05-01 | - |
dc.identifier.citation | Barbosa, L., Ferrão, P., Rodrigues, A., & Sardinha, A. (2018, May). Feed-in tariffs with minimum price guarantees and regulatory uncertainty. Energy Economics. Elsevier BV. http://doi.org/10.1016/j.eneco.2018.04.028 | - |
dc.identifier.issn | 0140-9883 | por |
dc.identifier.uri | https://hdl.handle.net/1822/65731 | - |
dc.description.abstract | The feed-in tariff (FIT) program is a popular policy for incentivizing new renewable energy projects because it establishes a long-term contract with renewable energy investors. This paper presents a novel model to analyze a FIT contract with a minimum price guarantee (i.e., a price-floor regime) from an investor's perspective. The results show that a perpetual guarantee only induces investment for prices below the price floor when offering a risk-free investment opportunity. In contrast, the finite guarantee may induce investment even when the revenue from the guarantee is lower than the investment cost. When an investor faces a scenario with regulatory uncertainty, a higher and more likely reduction in the price floor induces earlier investment. For all cases, investors postpone an investment decision when market conditions present a higher price volatility. (C) 2018 Elsevier B.V. All rights reserved. | por |
dc.description.sponsorship | The authors gratefully acknowledge the anonymous reviewers for the many useful suggestions that greatly improved this article. This work was supported by a PhD scholarship provided by Fundacao para a Ciencia e a Tecnologia (FCT) through the MIT Portugal program under project SFRH/BD/52086/2013, and was supported by national funds through Fundacao para a Ciencia e a Tecnologia (FCT) with reference UID/CEC/50021/2013. In addition, this work was carried out within the funding with COMPETE reference no POCI-01-0145-FEDER-006683 (UID/ECO/03182/2013), with the FCT/MEC's (Fundacao para a Cincia e a Tecnologia, I.P.) financial support through national funding and by the ERDF through the Operational Programme on "Competitiveness and Internationalization - COMPETE 2020" under the PT2020 Partnership Agreement. | por |
dc.language.iso | eng | por |
dc.publisher | Elsevier Science BV | por |
dc.relation | info:eu-repo/grantAgreement/FCT/SFRH/SFRH%2FBD%2F52086%2F2013/PT | por |
dc.relation | info:eu-repo/grantAgreement/FCT/5876/147282/PT | por |
dc.relation | info:eu-repo/grantAgreement/FCT/5876/147291/PT | por |
dc.rights | openAccess | por |
dc.subject | Real options | por |
dc.subject | Feed-in tariff | por |
dc.subject | Price-floor regime | por |
dc.subject | Regulatory uncertainty | por |
dc.title | Feed-in tariffs with minimum price guarantees and regulatory uncertainty | por |
dc.type | article | - |
dc.peerreviewed | yes | por |
oaire.citationStartPage | 517 | por |
oaire.citationEndPage | 541 | por |
oaire.citationVolume | 72 | por |
dc.date.updated | 2020-06-23T10:25:30Z | - |
dc.identifier.doi | 10.1016/j.eneco.2018.04.028 | por |
dc.subject.wos | Social Sciences | - |
sdum.export.identifier | 5603 | - |
sdum.journal | Energy Economics | por |
oaire.version | AM | por |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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article.pdf | 780,42 kB | Adobe PDF | Ver/Abrir |