TY  - RPRT
A1  - Geßner, Daniel
T1  - Performance of Renewable Energy Policies – Evidence from Germany’s Transition to Auctions
N2  - Government support for green technologies and renewable energy in particular has become an integral cornerstone of economic policy for most industrialized economies. Due to competitive price determination and supposedly higher efficiency, auctions have in recent years widely succeeded feed-in-tariffs as the primary support instrument (del Rio & Linares, 2014; REN21, 2021). However, literature still struggles to produce causal evidence to validate mostly descriptive findings for efficiency gains. Yet, this evidence is needed as a foundation to provide robust recommendations to policy makers (Grashof et al., 2020). By utilizing a difference-in-differences approach, this paper provides such evidence for a German photovoltaic (PV) auctioning program which came into effect in 2015. Results for this natural experiment confirm that cost-effectiveness improved significantly while previous literature shows that capacity expansion remained high. Results additionally show that falling prices for PV panels were the primary driver of cost reductions and wages also exert high influence on support price. Input cost development therefore indeed strongly influences support level which was the aim with introducing competitive auctions. Interest rate development cannot be linked to support level development, most probably due to the low interest environment in considered period.
T3  - Würzburg Economic Papers (W. E. P.) - 105 
KW  - Photovoltaik
KW  - Erneuerbare Energien
KW  - Ausschreibungen
KW  - auctions
KW  - photovoltaic
KW  - renewable energy policy
KW  - policy evaluation
KW  - difference-in-differences
Y1  - 2023
U6  - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:bvb:20-opus-325426
ER  - 
TY  - RPRT
A1  - Geßner, Daniel
T1  - Rethinking renewable energy policies for hydrogen – How the intercept of electricity and hydrogen markets can be addressed
N2  - A lot of countries have recently published updated hydrogen strategies, often including more ambitious targets for hydrogen production. In parallel, accompanying ramp-up mechanisms are increasingly coming into focus with the first ones already being released. However, these proposals usually translate mechanisms from renewable energy (RE) policy without considering the specific uncertainties, spillovers, and externalities of integrating hydrogen electrolysis into electricity grids. This article details how different aspects of a policy can address the specific issues, namely funding, risk-mitigation, and the complex relation with electricity markets. It shows that, compared to RE policy, subsidies need to emphasize the input side more strongly as price risks and intermittency from electricity markets are more prominent than from hydrogen markets. Also, it proposes a targeted mechanism to capture the positive externality of mitigating excess electricity in the grid while keeping investment security high. Economic policy should consider such approaches before massively scaling support and avoid the design shortcomings experienced with early RE policy.
T3  - Würzburg Economic Papers (W. E. P.) - 111 
KW  - Wasserstoff
KW  - Öffentliche Förderung
KW  - Contract for Difference
KW  - Elektrizitätsmarkt
KW  - Erneuerbare Energien
KW  - Hydrogen Policy
KW  - Renewable Energy Policy
KW  - Electricity Markets
KW  - Support Mechanisms
KW  - Contracts for Difference
Y1  - 2024
U6  - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:bvb:20-opus-370973
ER  -