Article (Scientific journals)
Non-renewable and intermittent renewable energy sources: friends and foes?
Jacqmin, Julien; Barranes, Edmond; Poudou, Jean-christophe
2017In Energy Policy, 111, p. 58-67
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Keywords :
Renewable energy production; natural gas; factor complementarity
Abstract :
[en] This paper studies the links between non-renewable and intermittent renewable energy sources in the production of electricity. Using U.S. state-level data from 1998 to 2015, we find that the relationship between the price of natural gas and investments in solar and wind capacity is non-linear and can be represented by an inverted U-shape. Hence, for relatively low natural gas prices, the two modes of production are substitutes. After a price threshold is reached, the two are complementary. A theoretical explanation argues that this stylized fact is the result of a trade-off between two characteristics of these modes of production: the high degree of flexibility of electricity production using natural gas as an input and the low marginal cost of renewable energy sources.
Research center :
LCII - Liège Competition and Innovation Institute - ULiège
Disciplines :
Special economic topics (health, labor, transportation...)
Author, co-author :
Jacqmin, Julien ;  Université de Liège > HEC Liège : UER > Economie politique et finances publiques
Barranes, Edmond
Poudou, Jean-christophe
Language :
English
Title :
Non-renewable and intermittent renewable energy sources: friends and foes?
Publication date :
December 2017
Journal title :
Energy Policy
ISSN :
0301-4215
eISSN :
1873-6777
Publisher :
Elsevier Science
Volume :
111
Pages :
58-67
Peer reviewed :
Peer Reviewed verified by ORBi
Available on ORBi :
since 12 September 2017

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