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dc.contributor.authorAndor, Marken_US
dc.contributor.authorFlinkerbusch, Kaien_US
dc.contributor.authorVoß, Achimen_US
dc.description.abstractIn this article we show how different promotion schemes for renewables affect economic welfare. Our starting point is that external benefits of renewable electricity supply besides the abatement of greenhouse gases are not related to actual electricity generation but to producing and installing capacity. We argue that generation based subsidies such as feed-in tariffs and bonus payments can only be a second-best solution. Our model framework allows us to explain how these second-best instruments cause welfare losses in an environment of volatile demand. We postulate that capacity payments for renewables should be implemented in order to avoid unnecessary social costs.en_US
dc.publisherCAWM Münsteren_US
dc.relation.ispartofseriesCAWM Discussion Paper, Centrum für Angewandte Wirtschaftsforschung Münster 59en_US
dc.subject.keywordRenewable Energy Sourcesen_US
dc.subject.keywordEnergy Policyen_US
dc.subject.keywordPromotion Instrumentsen_US
dc.titleQuantities vs. capacities: Minimizing the social cost of renewable energy promotionen_US
dc.typeWorking Paperen_US
Appears in Collections:CAWM Discussion Papers, Universität Münster

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