Please use this identifier to cite or link to this item: https://hdl.handle.net/1959.11/14049
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dc.contributor.authorNelson, Timothyen
dc.contributor.authorNelson, Jamesen
dc.contributor.authorAriyaratnam, Judeen
dc.contributor.authorCamroux, Simonen
dc.date.accessioned2014-03-03T13:02:00Z-
dc.date.issued2013-
dc.identifier.citationEnergy Policy, v.62, p. 386-400en
dc.identifier.issn1873-6777en
dc.identifier.issn0301-4215en
dc.identifier.urihttps://hdl.handle.net/1959.11/14049-
dc.description.abstractIn 2001, Australia introduced legislation requiring investment in new renewable electricity generating capacity. The legislation was significantly expanded in 2009 to give effect to a 20% Renewable Energy Target (RET). Importantly, the policy was introduced with bipartisan support and is consistent with global policy trends. In this article, we examine the history of the policy and establish that the 'stop/start' nature of renewable policy development has resulted in investors withholding new capital until greater certainty is provided. We utilise the methodology from Simshauser and Nelson (2012) to examine whether capital market efficiency losses would occur under certain policy scenarios. The results show that electricity costs would increase by between $51 million and $119 million if the large-scale RET is abandoned even after accounting for avoided renewable costs. Our conclusions are clear: we find that policymakers should be guided by a high level public policy principle in relation to large-scale renewable energy policy: constant review is not reform.en
dc.languageenen
dc.publisherElsevier Ltden
dc.relation.ispartofEnergy Policyen
dc.titleAn analysis of Australia's large scale renewable energy target: Restoring market confidenceen
dc.typeJournal Articleen
dc.identifier.doi10.1016/j.enpol.2013.07.096en
dcterms.accessRightsGreenen
dc.subject.keywordsEnvironment and Resource Economicsen
dc.subject.keywordsIndustry Economics and Industrial Organisationen
dc.subject.keywordsPublic Economics- Publically Provided Goodsen
local.contributor.firstnameTimothyen
local.contributor.firstnameJamesen
local.contributor.firstnameJudeen
local.contributor.firstnameSimonen
local.subject.for2008140209 Industry Economics and Industrial Organisationen
local.subject.for2008140205 Environment and Resource Economicsen
local.subject.for2008140214 Public Economics- Publically Provided Goodsen
local.subject.seo2008910211 Supply and Demanden
local.subject.seo2008910205 Industry Policyen
local.subject.seo2008910204 Industry Costs and Structureen
local.profile.emailtanelson@agl.com.auen
local.output.categoryC1en
local.record.placeauen
local.record.institutionUniversity of New Englanden
local.identifier.epublicationsrecordune-20140220-113346en
local.publisher.placeUnited Kingdomen
local.format.startpage386en
local.format.endpage400en
local.url.openhttp://ec.europa.eu/clima/consultations/articles/0017/unregistered/agl_5_en.pdfen
local.peerreviewedYesen
local.identifier.volume62en
local.title.subtitleRestoring market confidenceen
local.access.fulltextYesen
local.contributor.lastnameNelsonen
local.contributor.lastnameNelsonen
local.contributor.lastnameAriyaratnamen
local.contributor.lastnameCamrouxen
dc.identifier.staffune-id:tnelson9en
local.profile.roleauthoren
local.profile.roleauthoren
local.profile.roleauthoren
local.profile.roleauthoren
local.identifier.unepublicationidune:14262en
local.title.maintitleAn analysis of Australia's large scale renewable energy targeten
local.output.categorydescriptionC1 Refereed Article in a Scholarly Journalen
local.relation.grantdescriptionARC/120200192en
local.search.authorNelson, Timothyen
local.search.authorNelson, Jamesen
local.search.authorAriyaratnam, Judeen
local.search.authorCamroux, Simonen
local.uneassociationUnknownen
local.year.published2013en
local.subject.for2020380109 Industry economics and industrial organisationen
local.subject.for2020380105 Environment and resource economicsen
local.subject.for2020380114 Public economics - publicly provided goodsen
local.subject.seo2020150511 Supply and demanden
local.subject.seo2020150505 Industry policyen
local.subject.seo2020150504 Industry costs and structureen
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