Renewable energy hybrid subsidy combining input and output subsidies

With respect to sustainable development, how to promote renewable energy is a major issue. Here, we introduce a hybrid subsidy mechanism that considers both input and output subsidies. Hybrid subsidies are analyzed with stochastic optimization approaches. An outstanding advantage of hybrid subsidies...

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Bibliographic Details
Published in:Environmental science and pollution research international 2021-02, Vol.28 (8), p.9157-9164
Main Authors: Chen, Zi-rui, Xiao, Xu, Nie, Pu-yan
Format: Article
Language:English
Subjects:
Aquatic Pollution
Atmospheric Protection/Air Quality Control/Air Pollution
Earth and Environmental Science
Ecotoxicology
Environment
Environmental Chemistry
Environmental Health
Environmental science
Optimization
Policy
Renewable Energy
Renewable resources
Research Article
Risk management
Risk reduction
Stochasticity
Subsidies
Sustainable development
Waste Water Technology
Water Management
Water Pollution Control
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Summary:With respect to sustainable development, how to promote renewable energy is a major issue. Here, we introduce a hybrid subsidy mechanism that considers both input and output subsidies. Hybrid subsidies are analyzed with stochastic optimization approaches. An outstanding advantage of hybrid subsidies is the flexibility to adjust the intensity between the input and output subsidies. Our study shows that input-biased subsidies advance outputs and improve environmental efficiency (EE), while output-biased subsidies reduce risk and boost producer subsidy equivalents (PSEs). Therefore, the policy implication of this research is that different subsidy intensities should be employed according to preferences or social requirements.
ISSN:0944-1344
1614-7499
DOI:10.1007/s11356-020-11369-9