This paper analyses a set of new scenarios for energy markets in Europe to evaluate the consistency of economic … economically efficient and, at the same time, climate friendly, energy mix. Economic costs and environmental objectives are … balanced to identify the welfare-maximising development path, the related investment strategies in the energy sector, and the …

The existing economics literature neglects the important role of capacity in the production of renewable energy. To … fiill this gap, we construct a model in which renewable energy production is tied to renewable energy capacity, which then … allocation of energy, and which therefore comes at the cost of reduced general production. Requiring societal well-being to never …

Subsidies to renewable energy are costly and contentious. We estimate the reduction in prices that follows from the … analyzing storage and renewable energy in equilibrium, and provide an anatomy of a market dominated by such technologies …

energy subsidy, and characterize the optimal amount of untapped fossil fuel …

be more desirable than com-parable cost reductions related to renewable energy. The finding rests on the incentives …

or wind energy brings forward the date at which fossil fuels become exhausted and consequently global warming is … backstop is sufficiently cheap relative to marginal global warming damages (e.g., nuclear energy) as then it is attractive to …

To decarbonize the power sector policy-makers need to commit to long-term credible rules for climate and energy policy … renewable energy sources. Using a dynamic partial equilibrium model of the power sector, we show that commitment to state …