Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2017.05.042 |
Financial stability at risk due to investing rapidly in renewable energy | |
Safarzynska, Karolina1; van den Bergh, Jeroen C. J. M.2,3,4,5 | |
2017-09-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2017 |
卷号 | 108页码:43819 |
文章类型 | Article |
语种 | 英语 |
国家 | Poland; Spain; Netherlands |
英文摘要 | We present novel insights about effective energy policies using an agent-based model. The model describes relevant feedback mechanisms between technological evolution, the interbank market and the electricity sector. Analysis with it shows that energy policies affect interbank connectivity and hence the likelihood of cascades of bank failures. This effect has not been studied before in the literature. In particular, we find that investments in renewable energy reduce interbank connectivity, increasing the probability of bank failures, while raising taxes on energy has an opposite effect. Increasing the share of renewable energy in electricity production initially increases the price of electricity, and thus improves profits and the ability to re-pay debts of incumbent power plants. However, when the share of renewable energy increases too quickly, financial stability may be at stake as the burden of financing investments in renewable energy offsets the improved profitability of existing power stations. All in all, this study provides a unique and novel perspective on the relationship between renewable energy investments and financial stability. |
英文关键词 | Complexity Financial stability Renewable energy Sustainability transitions |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000406725800002 |
WOS关键词 | MODEL ; GROWTH ; POLICY ; SUSTAINABILITY ; ELECTRICITY ; TECHNOLOGY ; CRISIS |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/18866 |
专题 | 气候变化 |
作者单位 | 1.Warsaw Univ, Fac Econ Sci, Dluga 44-50, PL-00241 Warsaw, Poland; 2.ICREA, Barcelona, Spain; 3.Univ Autonoma Barcelona, Inst Environm Sci & Technol, Edifici Z Campus UAB, Bellaterra 08193, Spain; 4.Vrije Univ Amsterdam, Fac Econ & Business Adm, Amsterdam, Netherlands; 5.Vrije Univ Amsterdam, Inst Environm Studies, Amsterdam, Netherlands |
推荐引用方式 GB/T 7714 | Safarzynska, Karolina,van den Bergh, Jeroen C. J. M.. Financial stability at risk due to investing rapidly in renewable energy[J]. ENERGY POLICY,2017,108:43819. |
APA | Safarzynska, Karolina,&van den Bergh, Jeroen C. J. M..(2017).Financial stability at risk due to investing rapidly in renewable energy.ENERGY POLICY,108,43819. |
MLA | Safarzynska, Karolina,et al."Financial stability at risk due to investing rapidly in renewable energy".ENERGY POLICY 108(2017):43819. |
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