Renewable Portfolio Standard, Renewable Power Generation, a - PowerPoint Presentation

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Renewable Portfolio Standard, Renewable Power Generation, a - PPT Presentation

Yuxi Meng Energy Management and Policy Program The Pennsylvania State University Renewable Portfolio Standard RPS RPS requires utilities to provide a certain quantity percentage or megawatts of power generated from the renewable energy sources ID: 616168

renewable rps innovation solarpv rps renewable solarpv innovation power restructure generation solar solarg innovating statesrps energy wind 371 tradition

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Slide1

Renewable Portfolio Standard, Renewable Power Generation, and Innovating by Doing

Yuxi

Meng

Energy Management and Policy Program

The Pennsylvania State UniversitySlide2

Renewable Portfolio Standard (RPS)

RPS requires utilities to provide a certain quantity (percentage or megawatts) of power generated from the renewable energy sources.

Secure energy supply and alleviate the crisis of climate change and environmental pollution

Foster innovation and enhance competitivenessImprove local and regional benefit (e.g. job creation, economic development)

2Slide3

RPS and Renewable InnovationComprehensive RPS policy evaluation

Renewable Market / Generation

RPS

Innovation

Cost

Learning by doing

Innovating by doingSlide4

Innovating by doing (IBD)

Extension

learning by doing (LBD)Product and process innovation improvement as accumulated work experienceRenewable technology innovation development as renewable power generation increased

4Slide5

QuestionsThe impact of RPS on renewable technology innovation

Innovating by doing in renewable energy industry

5Slide6

DataU.S., state level

Panel data

Time window: 1990 to 2008

RPS: 0/1 signal“Doing”: Renewable power generation“Innovating”: Renewable patent applicationsWind power and solar PV

6Slide7

Methodology

Innovating by doing

RPS

Renewable generation

Renewable innovation

Reduced form

Two stepSlide8

Econometrics modelControl variables

RPS related factors

Tradability

PenaltyQualification of energy efficiency technologiesMarket restructureOther factorsElectricity priceTotal power generationOther programs

8Slide9

Specifications (two step test)

RPS and renewable generation

Innovating by doing

9Slide10

Specifications (direct test)

RPS and renewables innovation

10Slide11

Renewable generation and RPS (Wind)

(1)

(2)

(3)

(4)

(5)

(6)

All states

RPS states

VARIABLES

WindG

RPS

-4.658

-180.2

-57.31

-28.97

-184.8

-59.59

(306.5)

(460.6)

(466.3)

(325.0)

(445.5)

(446.6)

RPS*notrade

1,412**

1,420**

1,475**

1,034***

1,045**

1,099***

(592.2)

(587.1)

(566.4)

(371.6)

(384.0)

(371.6)

RPS*tradition

-697.4*

-687.9*

-678.2**

-533.9*

-527.1*

-518.1*

(367.3)(347.8)(333.1)(302.9)(292.4)(274.5)RPS*penalty54.9376.4348.8569.15(68.71)(70.63)(60.88)(62.00)restructure85.84111.3(159.8)(194.3)RPS*restructure-318.2-320.8(291.2)(278.6)

11Slide12

Renewable generation and RPS (Solar)

(1)

(2)

(3)

(4)

(5)

(6)

All states

RPS states

VARIABLES

SolarG

RPS

0.244

-1.357

3.904

0.161

-1.372

3.494

(4.360)

(2.813)

(4.085)

(4.318)

(2.870)

(3.909)

RPS*notrade

-8.103

-8.025

-4.123

-9.349

-9.238

-5.164

(6.592)

(6.651)

(4.367)

(7.821)

(7.795)

(5.160)

RPS*tradition

-0.390

-0.303

0.123

0.163

0.230

0.589(5.313)(5.476)(5.226)(5.067)(5.279)(5.123)RPS*penalty0.5011.9910.4811.965(0.911)(1.512)(0.890)(1.475)restructure-4.600*-5.786*(2.651)(3.163)RPS*restructure-14.83*-13.93*(8.342)(7.868)Slide13

Innovating by doing (Wind)

(1)

(2)

(3)

(4)

(5)

(6)

All

states

RPS states

VARIABLES

wind

WindG

0.000184

0.000222

0.000264

0.000248

0.000285

0.000325

(0.000267)

(0.000249)

(0.000241)

(0.000261)

(0.000253)

(0.000251)

RPS

-0.422

0.610

-0.234

-0.404

0.620

-0.241

(1.203)

(1.027)

(1.353)

(1.193)

(1.046)

(1.353)

RPS*notrade

4.721

4.567

4.168

4.998

4.838

4.388(5.499)(5.064)(4.465)(5.681)(5.234)(4.623)RPS*tradition1.6921.6941.6741.5811.5871.581(1.455)(1.451)(1.436)(1.351)(1.367)(1.361)RPS*penalty-0.326-0.458-0.323-0.458(0.471)(0.642)(0.471)(0.642)restructure-0.951-0.981(0.822)(0.884)RPS*restructure2.1952.237

(2.748)

(2.731)

13Slide14

Innovating by doing (Solar PV)

(1)

(2)

(3)

(4)

(5)

(6)

All states

RPS states

VARIABLES

PV_solar

SolarG

0.0132***

0.0126***

0.0134***

0.0133***

0.0125***

(0.00282)

(0.00289)

(0.00295)

(0.00291)

(0.00298)

(0.00305)

RPS

0.231

0.186

0.154

0.237

0.182

0.114

(0.563)

(0.439)

(0.416)

(0.569)

(0.443)

(0.426)

RPS*notrade

-0.362

-0.358

-0.350

-0.133

-0.127

-0.119

(0.472)

(0.454)(0.478)(0.526)(0.503)(0.544)RPS*tradition-0.289-0.288-0.295-0.369-0.368-0.378(0.342)(0.338)(0.337)(0.359)(0.356)(0.355)RPS*penalty0.01430.02060.01750.0247(0.0680)(0.0623)(0.0695)(0.0653)restructure-0.217

-0.365

(0.252)

(0.293)

RPS*restructure

0.0689

0.156

(0.432)

(0.467)

14Slide15

Innovation and RPS (Wind)

(1)

(2)

(3)

(4)

(5)

(6)

All

states

RPS states

VARIABLES

wind

RPS

-0.494

0.553

-0.303

-0.464

0.559

-0.381

(1.241)

(1.044)

(1.371)

(1.229)

(1.071)

(1.381)

RPS*notrade

4.802

4.751

4.389

5.298

5.224

4.857

(5.189)

(4.848)

(4.323)

(5.587)

(5.211)

(4.679)

RPS*tradition

1.634

1.578

1.511

1.435

1.391

1.323(1.600)(1.545)(1.495)(1.422)(1.410)(1.378)RPS*penalty-0.328-0.469-0.321-0.461(0.489)(0.670)(0.487)(0.666)restructure-0.724-1.009(0.752)(0.925)RPS*restructure2.2012.384(2.823)(2.803)15Slide16

Innovation and RPS (Wind)

(1)

(2)

(3)

(4)

(5)

(6)

All states

RPS states

VARIABLES

PV_solar

RPS

0.350

0.250

0.415

0.352

0.250

0.364

(0.468)

(0.392)

(0.356)

(0.471)

(0.393)

(0.360)

RPS*notrade

-0.625*

-0.620*

-0.473

-0.554

-0.546

-0.390

(0.337)

(0.326)

(0.336)

(0.377)

(0.361)

(0.383)

RPS*tradition

-0.369-0.363-0.350-0.381-0.376-0.368(0.298)(0.294)(0.288)(0.304)(0.302)(0.299)RPS*penalty0.03140.08730.03170.0878(0.0641)(0.0549)(0.0650)(0.0547)restructure-0.277-0.447(0.284)(0.327)RPS*restructure-0.485-0.371

(0.428)

(0.434)

16Slide17

ConclusionThe

design of RPS would significantly influence the renewable

power generation adoption and development

Current RPS policies encouraged the power generation of wind power more than solar PVInnovating by doing is significant on solar PVIn general, RPS has no significant impact on renewable innovation

17Slide18

Policy implicationsSolar add-on (carve-out) requirement

Wind

solar PVPolicies for technologies in different stage of development18Slide19

Thank you!

Questions?

yxm5040@psu.edu