Journal
SOLAR ENERGY
Volume 84, Issue 6, Pages 1059-1071Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.solener.2010.03.014
Keywords
Support policies; PV systems; Policy effectiveness; Policy risk; Feed-in tariffs
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Funding
- DISTRES [031569]
- European Commission
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Although the Mediterranean region is blessed with abundant solar resources, photovoltaic energy currently represents a very small share of power production. In Germany however, a much less sunny country, the photovoltaic (PV) industry is booming. This country has become a front runner in the adoption of PV because of effective policy incentives. Based on a cross-case study analysis of the German, Spanish and Greek PV markets, this paper investigates factors determining the effectiveness of PV policies. Our analysis shows that, above a certain level of return, risk-related factors (such as policy instability and administrative hurdles) play a more important role in influencing investment decisions than return-related factors (such as the level of a feed-in tariff). (C) 2010 Elsevier Ltd. All rights reserved.
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