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

Renewable Portfolio Standard, Renewable Power Generation, and Innovating by Doing. Yuxi Meng Energy Management and Policy Program The Pennsylvania State University. Renewable Portfolio Standard (RPS).

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

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  1. Renewable Portfolio Standard, Renewable Power Generation, and Innovating by Doing YuxiMeng Energy Management and Policy Program The Pennsylvania State University

  2. 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 competitiveness • Improve local and regional benefit (e.g. job creation, economic development)

  3. RPS and Renewable Innovation • Comprehensive RPS policy evaluation Innovation Innovating by doing Renewable Market / Generation RPS Cost Learning by doing

  4. Innovating by doing (IBD) • Extension of learning by doing (LBD) • Product and process innovation improvement as accumulated work experience • Renewable technology innovation development as renewable power generation increased

  5. Questions • The impact of RPS on renewable technology innovation • Innovating by doing in renewable energy industry

  6. Data • U.S., state level • Panel data • Time window: 1990 to 2008 • RPS: 0/1 signal • “Doing”: Renewable power generation • “Innovating”: Renewable patent applications • Wind power and solar PV

  7. Methodology Two step Innovating by doing Renewable generation Reduced form RPS Renewable innovation

  8. Econometrics model • Control variables • RPS related factors • Tradability • Penalty • Qualification of energy efficiency technologies • Market restructure • Other factors • Electricity price • Total power generation • Other programs

  9. Specifications (two step test) • RPS and renewable generation • Innovating by doing

  10. Specifications (direct test) • RPS and renewables innovation

  11. Renewable generation and RPS (Wind)

  12. Renewable generation and RPS (Solar)

  13. Innovating by doing (Wind)

  14. Innovating by doing (Solar PV)

  15. Innovation and RPS (Wind)

  16. Innovation and RPS (Wind)

  17. Conclusion • The 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 PV • Innovating by doing is significant on solar PV • In general, RPS has no significant impact on renewable innovation

  18. Policy implications • Solar add-on (carve-out) requirement • Wind vs solar PV • Policies for technologies in different stage of development

  19. Thank you! Questions? yxm5040@psu.edu

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