Based on panel data of 214 licenses to construct small hydropower plants, we examine whether uncertainty with respect to the introduction of a market for renewable energy certificates affected the timing of investments in Norway from 2001 to 2010. Using regression analysis, we find that (1)...

Based on panel data of 214 licenses to construct small hydropower plants, we examine whether uncertainty with respect to the introduction of a market for renewable energy certificates affected the timing of investments in Norway from 2001 to 2010. Using regression analysis, we find that (1)...

Investment in renewable energy production in Norway is since the 1st of January 2012 subsidized through a market for green certificates common with Sweden. We study how the prospects of a future green certificates scheme affected the expectations of investors investing in small hydropower plants...