Ex-post economic impact evaluations are standard requirements for loans and grants from multilateral international development institutions. In many cases, however, lack of sufficient baseline or historical data, or the very nature of the investment itself renders orthodox economic impact...

This paper estimates the welfare-optimal market share of wind and solar power, explicitly taking into account their output variability. We present a theoretical valuation framework that consistently accounts for output variability over time, forecast errors, and the location of generators in the...