Renewable Portfolio Standards in the Presence of Green Consumers and Emissions Trading

Networks and Spatial Economics

Volumn 13, Issue 2, 2013, Pages 149-181

  Chen, Yihsu ^a   Wang, Lizhi ^b  

^a UNIVERSITY OF CALIFORNIA   (United States)

^b Iowa State University of Science and Technology   (United States)

Author keywords

Electricity market; Emission trading programs; Green pricing programs; Renewable portfolio standards

Indexed keywords

COMPETITIVE ELECTRIC MARKETS; DIFFERENTIATED PRODUCTS; ELECTRICITY MARKET; EMISSION TRADING; GREEN PRICING PROGRAMS; RENEWABLE ENERGIES; RENEWABLE ENERGY CREDITS; RENEWABLE PORTFOLIO STANDARD;

COMMERCE; RENEWABLE ENERGY RESOURCES; SALES; STANDARDS;

GREENHOUSE GASES;

EID: 84878589052     PISSN: 1566113X     EISSN: 15729427     Source Type: Journal    
DOI: 10.1007/s11067-012-9176-0     Document Type: Article

References (44)

1. Amundsen ES, Mortensen JB (2001) The Danish green certificate system: some simple analytical results. Energy Econ 23: 489-509.
2. Angrist J, Graddy K, Imbens G (2000) The interpretation of instrumental variables estimators in simultaneous equations models with an application to the demand for fish. Rev Econ Stud 67: 499-527.
3. Azevedo I, Morgan M, Lave L (2011) Residential and regional electricity consumption in the US and EU: How much will higher prices reduce CO2 emissions? Electr J 24: 21-29.
4. Bertsimas D, Tsitsiklis J (1997) Introduction to linear optimization. Athena Scientific.
5. Bird LA, Lokey E (2007) Interaction of compliance and voluntary renewable energy market. Tech Rep NREL/TP-670-42096, National Renewable Energy Laboratory.
6. Bird LA, Holt E, Carroll GL (2008) Implications of carbon cap-and-trade for US voluntary renewable energy markets. Energy Policy 36(6): 2063-2073.
7. Burtraw D, Palmer K, Kahn D (2004) Allocation of CO2 emissions allowances in the regional greenhouse gas cap-and-trade program. Tech Rep RfF Discussion Papers 05-25, Resources for the Future.
8. Bushnell J (2003) A mixed complementarity model of hydro-thermal electricity competition in the Western US. Oper Res 51(1): 81-93.
9. Bushnell J, Mansur E, Saravia C (2008) Vertical arrangements, market structure and competition: an analysis of restructured US electricity markets. Am Econ Rev 98(1): 237-266.
10. California Air Resources Board (2007) Low-carbon fuel standard. http://www. energy. ca. gov/lowcarbonfuelstandard/index. html. Accessed Feb 2007.
11. California Air Resources Board (2008) AB32 fact sheet-California Global Warming Solutions Act. http://www. arb. ca. gov/cc/factsheets/ab32factsheet. pdf. Accessed May 2008.
12. Chen Y, Hobbs BF (2005) An oligopolistic power market model with tradable NOx permits. IEEE Trans Power Syst 20(1): 119-129.
13. Chen Y, Hobbs BF, Leyffer S, Munson T (2006) Solution of large-scale leader-follower market equilibrium problems: Electric power and NOx allowances markets. Comput Manag Sci 3(4): 307-330.
14. Chen Y, Liu A, Hobbs BF (2011) Economic and emissions implications of load-based, source-based and first-seller emissions trading programs under California AB32. Oper Res 59(3): 696-712.
15. Committe on Energy and Commerce (2008) Chairmen Waxman, Markey release discussion draft of new clean energy legislation.
16. Convery F, Redmond L (2007) Market and price developments in the European Union Emissions Trading Schemes. Rev Environ Econ Policy 1: 88-111.
17. Database of State Incentives for Renewable and Efficiency (2008) New Jersey incentives for renewable energy. http://www. dsireusa. org/. Accessed June 2008.
18. Espey JA, Espey M (2004) Turning on the lights: a meta-analysis of residual electricity turning on the lights: a meta-analysis of residual electricity demand elasticities. J Agric Appl Econ 36(1): 65-81.
19. European Union (2008) Emissiosn trading scheme. http://ec. europa. eu/environment/climat/emission. htm. Accessed June 2008.
20. Ferris M, Munson T (2000) Complementarity problems in GAMS and the PATH solver. J Econ Dyn Control 25: 165-188.
21. Gabriel SA, Manik J, Vikas S (2003) Computational experience with a large-scale, multi-period, spatial equilibriummodel of the north american natural gas system. Netw Spat Econ 3(2): 97-122.
22. Gillenwater M (2008a) Redefining RECs (part 1): untangling attributes and offsets. Energy Policy 36(6): 2019-2219.
23. Gillenwater M (2008b) Redefining RECs (part 2): untangling certificates and emissions markets. Energy Policy 36(6): 2120-2129.
24. Hindsberger M, Nybrow MH, Ravn HF, Schmit R (2003) Co-existence of electricity, TEP and TGC markets in the Baltic Sea region. Energy Policy 31(1): 85-96.
25. Hobbs BF (2001) Linear complementarity models of Nash-Cournot competition in bilateral and POOLCO power markets. IEEE Trans Power Syst 16(2): 194-202.
26. Hobbs BF, Drayton G, Bartholomew E, Lise W (2008) Improved transmission representations in oligopolistic market models: quadratic losses, phase shifters, and DC lines. IEEE Trans Power Syst 23(3): 1018-1029.
27. Holt E, Wiser R (2007) The treatment of renewable energy certificates, emissions allowances, and green power programs in state renewable portfolio standards. Tech Rep LBNL-62574, Lawrence Berkeley National Laboratory.
28. Jensen S, Skytte K (2002) Interactions between the power and green certificate markets. Energy Policy 30(5): 425-435.
29. Leuthold FU, Weigt H, von Hirschhausen C (2010) A large-scale spatial optimization model of the european electricity market. Nets Spat Econ 4(4): 1-33.
30. Linares P, Santos FJ, Ventosa M (2008) Coordination of carbon reduction and renewable energy support policies. Cli Pol 8: 377-394.
31. Metzler C, Hobbs B, Pang JS (2003) Nash-Cournot equilibria in power markets on a linearized DC network with arbitrage: formulations and properties. Nets Spat Econ 3(2): 123-150.
32. Midwestern Greenhouse Gas Reduction Accord (2011) New direction, new energy, new jobs and a cleaner world. http://www. midwesternaccord. org/. Accessed July 2011.
33. Mozumder P, Marathe A (2004) Gains from an integrated market for renewable energy credits. Ecol Econ 49: 259-272.
34. Regional Greenhouse Gas Initiative (2009) Auction results. http://www. rggi. org/co2-auctions/results. Accessed June 2009.
35. Regional Greenhouse Gas Initiative (2011) Regional Greenhouse Gas Initiative: an initiative of the Northeast and Mid-Atlantic States of the US. http://www. westernclimateinitiative. org/. Accessed July 2011.
36. Schweppe F, Caramanis M, Tabors R, Bohn R (1988) Spot pricing of electricity. Kluwer Academic Publihsers.
37. Smeers Y (2003a) Market incompleteness in regional electricity transmission. part i: The forward market. Netw Spat Econ 3(2): 154-174.
38. Smeers Y (2003b) Market incompleteness in regional electricity transmission. part ii: the forward and real time markets. Nets Spat Econ 3(2): 175-196.
39. Tsao CC, Campbell JE, Chen Y (2011) When renewable portfolio standards meet cap-and-trade regulations in the power sector: market interactions, profit implications, and policy redundancy. Energy Policy 39(7): 3966-3974.
40. US Department of Energy (2008) Green Power Network. http://www. eere. energy. gov/greenpower/markets/pricing. shtml?p%age=1. Accessed July 2008.
41. Wei JY, Smeers Y (1999) Spatial oligopolistic electricity models with Cournot generators and regulated transmission price. Oper Res 47(1): 102-112.
42. Western Climate Initiative (2011) Western Climate Initiative. http://www. westernclimateinitiative. org/. Accessed July 2011.
43. Wiser R, Barbose G (2007) Renewables portfolio standards in the United States: A status report with data through 2007. Tech rep, Lawrence Berkeley National Laboratory.
44. Yao J, Adler L, Oren S (2008) Modeling and computing two-settlement oligopolistic equilibrium in a congested electricity network. Oper Res 56(1): 34-47.