Title: Policy instruments for renewable energy: an empirical evaluation of effectiveness

Authors: Dina Azhgaliyeva; Maksim Belitski; Yelena Kalyuzhnova; Maxim Romanov

Addresses: Energy Studies Institute, National University of Singapore, 29 Heng Mui Keng Terrace, Singapore 119620, Singapore ' Henley Business School, Whiteknights, University of Reading, Reading, RG6 6UD, UK ' Henley Business School, Whiteknights, University of Reading, Reading, RG6 6UD, UK ' Kazakh-British Centre for Competitiveness, Kazakh-British Technical University, Office 451, 59 Tole bi str., 050000, Almaty, Kazakhstan

Abstract: This paper evaluates the effectiveness of renewable energy policy instruments on wind energy production using annual data from 106 countries over the period 1997-2014. Eleven policy instruments are evaluated: direct investment, feed-in tariffs, grants and subsidies, loans, taxes, green certificates, information and education, strategic planning, codes and standards, research, development and deployment and voluntary approaches. The empirical evidence uncovers the impact of different policy instruments on wind energy production. The model tests which policy instruments are effective in promoting wind energy, and whether their effectiveness depends on their existence, experience, implementation or combination. The results of the mean group estimation show that two policy instruments have positive impact on wind energy production: tax incentives and the strategic planning. The impact of strategic planning increases with a number of policy changes.

Keywords: policy instruments; policy measures; wind energy; wind power; renewable energy production; renewable energy sources; energy policy.

DOI: 10.1504/IJTIP.2018.094409

International Journal of Technology Intelligence and Planning, 2018 Vol.12 No.1, pp.24 - 48

Received: 06 Nov 2017
Accepted: 28 Mar 2018
Published online: 31 Aug 2018 *