In most industrialized countries, renewable energy is supported by policy schemes burden of which is distributed among taxpayers and energy consumers. Renewable sources of energy face a major problem because of their intermittency and that has not been adequately reflected in the discussions of...

The economic theory of the last decades deals with how certain models of institutions and incentives could improve the coordination of individual actions in society. Setting rules regulating relationships between economic agents is considered as the key requirement of such coordination....