Resource and Energy Economics最新文献

Gotta Catch ’Em All: CCUS With endogenous technical change 要抓住他们所有人：CCUS与内源性技术变革

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-05-17 DOI: 10.1016/j.reseneeco.2025.101499

Davide Bazzana, Nicola Comincioli, Camilla Gusperti, Demis Legrenzi, Massimiliano Carlo Pietro Rizzati, Sergio Vergalli

{"title":"Gotta Catch ’Em All: CCUS With endogenous technical change","authors":"Davide Bazzana, Nicola Comincioli, Camilla Gusperti, Demis Legrenzi, Massimiliano Carlo Pietro Rizzati, Sergio Vergalli","doi":"10.1016/j.reseneeco.2025.101499","DOIUrl":"10.1016/j.reseneeco.2025.101499","url":null,"abstract":"<div><div>Carbon Capture Utilization and Storage (CCUS) is a pivotal technology for achieving ambitious climate targets. Despite its prominent inclusion in energy mix projections, its current deployment falls short of the required level and future uncertainties pose obstacles to its optimal diffusion. This study addresses two primary issues for the widespread adoption of CCUS. Firstly, it investigates how investments in CCUS technology either compete with or complement other green Research and Development (R&D) activity. Secondly, it explores how the heterogeneity among different economies and the peculiarities of CCUS technology itself might lead to alternative configurations compared to the current trajectory. To address these issues, this study introduces CCUS into a regional Integrated Assessment Model incorporating endogenous green R&D and heterogeneous cost functions over the 21st century. The findings reveals that undervaluing R&D costs may crowd out CCUS investments. Additionally, CCUS capital distribution by the end of the century requires substantial investments from regions with currently low deployment, such as China and lower-income countries. However, as Europe and other high income countries lose centrality in the global economy, they may become less willing to finance CCUS expansion, raising concerns about technology transfer and cost-sharing. The findings underscore the need for policies that reduce technological uncertainties and enhance international cooperation to ensure CCUS contributes effectively to emission reduction targets.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"83 ","pages":"Article 101499"},"PeriodicalIF":2.6,"publicationDate":"2025-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144116950","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

High-frequency analytics and residential water consumption: Estimating heterogeneous effects 高频分析和住宅用水：估计异质效应

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-05-14 DOI: 10.1016/j.reseneeco.2025.101500

Mehdi Nemati , Steven Buck , Hilary Soldati

引用次数: 0

Beyond biases: Exploring endogeneity in the allocation function of latent class models for environmental valuation 超越偏见：探索环境评估潜在类别模型分配函数的内生性

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-04-30 DOI: 10.1016/j.reseneeco.2025.101498

Peio Alcorta , Petr Mariel

{"title":"Beyond biases: Exploring endogeneity in the allocation function of latent class models for environmental valuation","authors":"Peio Alcorta , Petr Mariel","doi":"10.1016/j.reseneeco.2025.101498","DOIUrl":"10.1016/j.reseneeco.2025.101498","url":null,"abstract":"<div><div>Despite its implications for parameter estimation, endogeneity is often overlooked in applications of discrete choice modeling. In environmental valuation, research on endogeneity typically focuses on the case when it originates in the utilities of the underlying random utility maximization model rather than in the class allocation probabilities of a latent class model (LCM). This paper addresses that gap by assuming the allocation function of an LCM includes an endogenous latent variable and examining four scenarios: (i) omitting this latent variable, (ii) directly including an endogenous indicator, (iii) using a multiple indicator solution that accounts for endogeneity, and (iv) employing a hybrid choice model. Simulation results reveal that while the allocation function parameters suffer bias in the first two scenarios, they are consistently estimated in the latter two. Notably, willingness to pay estimates remain unbiased in all these scenarios. We support these findings through simulation studies and draw connections to the existing statistical literature. Furthermore, we apply these insights to a case study focusing on seaweed-based renewable energy in the UK.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"83 ","pages":"Article 101498"},"PeriodicalIF":2.6,"publicationDate":"2025-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143917793","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does the difference make a difference? Evaluating Contracts for Difference design in a fully decarbonised European electricity market 这种差异会产生影响吗？在完全脱碳的欧洲电力市场中评估差异设计合同

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-04-17 DOI: 10.1016/j.reseneeco.2025.101495

Silke Johanndeiter , Niina Helistö , Valentin Bertsch

{"title":"Does the difference make a difference? Evaluating Contracts for Difference design in a fully decarbonised European electricity market","authors":"Silke Johanndeiter , Niina Helistö , Valentin Bertsch","doi":"10.1016/j.reseneeco.2025.101495","DOIUrl":"10.1016/j.reseneeco.2025.101495","url":null,"abstract":"<div><div>Due to their ability to mitigate price risks, Contracts for Difference (CfDs) gained popularity amidst high electricity prices during the energy crisis in 2022. Depending on their specific design, CfDs are known to affect investment and dispatch decisions in electricity markets. We evaluate these effects in a fully decarbonised, sector-coupled European electricity market in terms of their impact on the power system and from an investor’s and consumer perspective. We consider four different types of governmental CfDs awarded to wind onshore power plants in a competitive auction for the contracts’ underlying strike price. On the one hand, the CfD types differ in terms of the allowed direction and unit (energy vs. capacity) of payments with consequences for dispatch decisions. On the other hand, they apply different reference prices with implications for investment decisions as reflected by optimally derived strike prices. Implementing the CfDs in an energy system optimisation model, we find that these differences affect curtailment, electrolyser load and market prices in fully decarbonised electricity markets. From a consumer’s perspective, our results show that system costs are lowest for types of CfDs that foster investments in more system-friendly power plants. For investors, in turn, these types of CfDs incur the highest discrepancy of ex ante expected and ex post realised CfD payments, such that they do not necessarily suffice to recover their costs. We conclude that this could be addressed by an adequate risk premium on the strike price, which should be subject to future research.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"83 ","pages":"Article 101495"},"PeriodicalIF":2.6,"publicationDate":"2025-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143895682","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Implicit discount rates and energy efficiency gap in air conditioning: Evidence from the Chinese market 空调隐性贴现率与能效差距：来自中国市场的证据

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-04-10 DOI: 10.1016/j.reseneeco.2025.101497

Xiao-Bing Zhang , Yinxin Fei , Hongbo Duan , Ugur Soytas , Patricia Crifo , Thomas Sterner

{"title":"Implicit discount rates and energy efficiency gap in air conditioning: Evidence from the Chinese market","authors":"Xiao-Bing Zhang , Yinxin Fei , Hongbo Duan , Ugur Soytas , Patricia Crifo , Thomas Sterner","doi":"10.1016/j.reseneeco.2025.101497","DOIUrl":"10.1016/j.reseneeco.2025.101497","url":null,"abstract":"<div><div>As one of the most common adaptation or coping strategies to a warming world, air conditioning consumes a large amount of energy. While the adoption of energy-efficient air conditioners (ACs) could reduce energy consumption, it usually comes with a higher upfront cost. This paper investigates consumers’ tradeoffs between upfront (purchase) costs and future energy costs in AC purchases, using product-level data from the AC market in China for 274 cities from 2013 to 2018. The results show that the Chinese consumers are over-discounting future energy costs in AC purchases, with an implicit discount rate of 24 %, indicating the existence of energy efficiency gap in air conditioning in China. Besides, the implicit discount rates are found to be lower for consumers in cities with higher per-capita GDP, higher education, larger household size, and in southern China, and are lower for the purchases of relatively cheaper ACs. On average, over-discounting in energy costs leads to an increase in annual energy consumption by around 7.5 % and a welfare loss of 8.24 billion Yuan for Chinese AC consumers. With global warming, consumer welfare loss caused by over-discounting will increase by 69 %-104 % by mid-century in different Shared Socioeconomic Pathways (SSP) scenarios.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"82 ","pages":"Article 101497"},"PeriodicalIF":2.6,"publicationDate":"2025-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143838633","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

“Green” steel investments in the EU: Pie in the sky? 欧盟的“绿色”钢铁投资：天上掉馅饼？

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-04-10 DOI: 10.1016/j.reseneeco.2025.101494

Per-Olov Johansson , Bengt Kriström

{"title":"“Green” steel investments in the EU: Pie in the sky?","authors":"Per-Olov Johansson , Bengt Kriström","doi":"10.1016/j.reseneeco.2025.101494","DOIUrl":"10.1016/j.reseneeco.2025.101494","url":null,"abstract":"<div><div>The steel industry accounts for approximately 7%–8% of global carbon dioxide emissions. To address this, several initiatives aim to establish carbon-neutral steel production by replacing coal with hydrogen derived from fossil-free electricity. These projects, however, depend on substantial state subsidies, raising questions about their economic viability, especially under comprehensive carbon policies, such as those outlined in the EU’s Fit-for-55 package. Our analysis employs a cost–benefit framework grounded in general equilibrium theory, which explicitly considers the direct and indirect effects of policies on primary and secondary markets, as well as broader economic interdependencies. By integrating the EU Emissions Trading System (ETS) and Carbon Border Adjustment Mechanisms (CBAMs) into this framework, we provide a rigorous evaluation of the social desirability of hydrogen-based steel production. Our findings, based on a case study of a large-scale plant in northern Sweden, indicate significant social losses, with potentially far-reaching implications for similar projects across the EU. We might see a da capo of the 1970s European steel crisis.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"82 ","pages":"Article 101494"},"PeriodicalIF":2.6,"publicationDate":"2025-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143838632","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A simulation-based method for testing an abnormally high incidence of specific choice patterns in discrete choice data 一种基于模拟的方法，用于测试离散选择数据中特定选择模式的异常高发生率

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-04-09 DOI: 10.1016/j.reseneeco.2025.101496

Petr Mariel , Alaitz Artabe

引用次数: 0

Fiscal, environmental, and bank regulation policies in a small open economy for the green transition 面向绿色转型的小型开放经济中的财政、环境和银行监管政策

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-03-27 DOI: 10.1016/j.reseneeco.2025.101493

Patrick Grüning

引用次数: 0

Social norms and energy conservation in China 中国的社会规范与节能

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-02-13 DOI: 10.1016/j.reseneeco.2025.101491

Libo Wu , Yang Zhou

引用次数: 0

Split-incentives in energy efficiency investments? Evidence from rental housing 能源效率投资的分散激励？来自出租房屋的证据

IF 2.6 3区经济学

Resource and Energy Economics Pub Date : 2025-02-13 DOI: 10.1016/j.reseneeco.2025.101488

Puja Singhal , Stephan Sommer , Kathrin Kaestner , Michael Pahle

引用次数: 0