Equilibrium transitions from non-renewable energy to renewable energy under capacity constraints

Autor: Jean-Pierre Amigues, Michel Moreaux, Alain Ayong Le Kama
Přispěvatelé: Economie des Ressources Naturelles (LERNA), Université Toulouse 1 Capitole (UT1), Université Fédérale Toulouse Midi-Pyrénées-Université Fédérale Toulouse Midi-Pyrénées-Institut National de la Recherche Agronomique (INRA)-Commissariat à l'énergie atomique et aux énergies alternatives (CEA), Institut d'Economie Industrielle (IDEI), Université Fédérale Toulouse Midi-Pyrénées-Université Fédérale Toulouse Midi-Pyrénées, EconomiX, Université Paris Nanterre (UPN)-Centre National de la Recherche Scientifique (CNRS), Toulouse School of Economics (TSE), Université Fédérale Toulouse Midi-Pyrénées-Université Fédérale Toulouse Midi-Pyrénées-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), European Project: 266992,EC:FP7:SSH,FP7-SSH-2010-2,GLOBAL-IQ(2011), Université Toulouse Capitole (UT Capitole), Université de Toulouse (UT)-Université de Toulouse (UT)-Institut National de la Recherche Agronomique (INRA)-Commissariat à l'énergie atomique et aux énergies alternatives (CEA), Université de Toulouse (UT)-Université de Toulouse (UT), Toulouse School of Economics (TSE-R), Université de Toulouse (UT)-Université de Toulouse (UT)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE)
Jazyk: angličtina
Rok vydání: 2015
Předmět:
Zdroj: Journal of Economic Dynamics and Control
Journal of Economic Dynamics and Control, Elsevier, 2015, 55, pp.89-112. ⟨10.1016/j.jedc.2015.04.001⟩
Journal of Economic Dynamics and Control, 2015, 55, pp.89-112. ⟨10.1016/j.jedc.2015.04.001⟩
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2015.04.001⟩
Popis: The research leading to these results has received funding from European Community's Seventh Framework Programme(FP7/2007-2013) undergrant agreement no.266992-Global-IQ “Impacts Quantification of global changes”.; International audience; We study the transition between non-renewable and renewable energy sources with adjustment costs over the production capacity of renewable energy. Assuming constant variable marginal costs for both energy sources, convex adjustment costs and a more expensive renewable energy, we show the following. With sufficiently abundant non-renewable energy endowments, the dynamic equilibrium path is composed of a first time phase of only non-renewable energy use followed by a transition phase substituting progressively renewable energy to non-renewable energy before a last time phase of only renewable energy use. The investment into renewable energy may either begin before actual production of renewable energy or be delayed until the energy price achieves a sufficient gap with respect to the renewable energy cost. With an initially abundant non-renewable resource, the features of the transition between non-renewable and renewable energy do not depend upon the initial resource stock.
Databáze: OpenAIRE