Economic growth and the transition from non-renewable to renewable energy

Greiner A, Gruene L, Semmler W (2014)
Environment and Development Economics 19(4): 417-439.

Journal Article | Published | English

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The paper considers the transition of an economy from non-renewable to renewable energy. We set up a canonical growth model with damages in the household's welfare function and two energy sources - non-renewable and renewable energy. To produce renewable energy a capital stock must be built up. A socially optimal solution is considered that takes into account the negative externality from the non-renewable energy. We also study how the optimal solution can be mimicked in a market economy by policies using subsidies and tax rates. To solve the model numerically, we use Nonlinear Model Predictive Control. We study when a transition to renewable energy takes place and whether it occurs before the non-renewable resource is exhausted. In addition, we analyze the impact of the initial values of the non-renewable resource and of the capital stock on the time of paths of the variables.
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Greiner A, Gruene L, Semmler W. Economic growth and the transition from non-renewable to renewable energy. Environment and Development Economics. 2014;19(4):417-439.
Greiner, A., Gruene, L., & Semmler, W. (2014). Economic growth and the transition from non-renewable to renewable energy. Environment and Development Economics, 19(4), 417-439.
Greiner, A., Gruene, L., and Semmler, W. (2014). Economic growth and the transition from non-renewable to renewable energy. Environment and Development Economics 19, 417-439.
Greiner, A., Gruene, L., & Semmler, W., 2014. Economic growth and the transition from non-renewable to renewable energy. Environment and Development Economics, 19(4), p 417-439.
A. Greiner, L. Gruene, and W. Semmler, “Economic growth and the transition from non-renewable to renewable energy”, Environment and Development Economics, vol. 19, 2014, pp. 417-439.
Greiner, A., Gruene, L., Semmler, W.: Economic growth and the transition from non-renewable to renewable energy. Environment and Development Economics. 19, 417-439 (2014).
Greiner, Alfred, Gruene, Lars, and Semmler, Willi. “Economic growth and the transition from non-renewable to renewable energy”. Environment and Development Economics 19.4 (2014): 417-439.
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