PRACTICING OF RENEWABLE ENERGY AUCTION SCHEME — EXPECTED SOCIETAL & ECONOMIC GAINS FOR THE DEVELOPING COUNTRIES
With the devastating impacts of climate change, it is evident that many polls show a shift in power generation from fossil fuels to renewable energy. To support this transition, flexible and adaptable support mechanisms are required to maintain a stable and attractive environment for investments...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | deu |
| Published: |
University of Oradea
2023-07-01
|
| Series: | Annals of the University of Oradea: Economic Science |
| Subjects: | |
| Online Access: | https://anale.steconomiceuoradea.ro/en/wp-content/uploads/2024/02/AUOES.July_.20231.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1850225852025929728 |
|---|---|
| author | Tanvir ALAM SHAHI |
| author_facet | Tanvir ALAM SHAHI |
| author_sort | Tanvir ALAM SHAHI |
| collection | DOAJ |
| description | With the devastating impacts of climate change, it is evident that many polls show
a shift in power generation from fossil fuels to renewable energy. To support this transition,
flexible and adaptable support mechanisms are required to maintain a stable and attractive
environment for investments in the renewable energy sector, while ensuring the reliability
and sustainability of the energy system in an economical way. Auctions have gained
momentum as a dominant strategy, either solely or in collaboration with supplementary
trials, to provide incentives for renewable energy deployment. The auction mechanism has
expanded widely, with only six states accepting Renewable Energy Sources (RES) auction
in 2005, and at least 84 states adopting this tool by 2017. This study aims to explore the
potential of the auction mechanism in promoting renewable energy in the developing
countries like Bangladesh, which has yet to add the required capacity to its energy mix due
to the lack of a suitable support scheme to achieve its carbon neutrality goal. The research
outlines the opportunity to design auctions based on qualitative research along with
levelised cost of electricity (LCOE) model as quantitative part, the impact of auctions on
energy costs and thus the feasibility of suggested auctioning schemes based on countryspecific empirical evidence and benefits to develop an auctioning model for the countries.
The potential auction model will add further positive value to the society as well as the both
local and national economy. The results indicate that a systematic auctioning scheme with
socio-economic development instruments, under a qualification requirement, can ensure
various benefits for an emerging state with renewable energy resources. |
| format | Article |
| id | doaj-art-92d51a7ef24f46daa845e80f325b29ef |
| institution | OA Journals |
| issn | 1222-569X 1582-5450 |
| language | deu |
| publishDate | 2023-07-01 |
| publisher | University of Oradea |
| record_format | Article |
| series | Annals of the University of Oradea: Economic Science |
| spelling | doaj-art-92d51a7ef24f46daa845e80f325b29ef2025-08-20T02:05:13ZdeuUniversity of OradeaAnnals of the University of Oradea: Economic Science1222-569X1582-54502023-07-01321143210.47535/1991AUOES32(1)001PRACTICING OF RENEWABLE ENERGY AUCTION SCHEME — EXPECTED SOCIETAL & ECONOMIC GAINS FOR THE DEVELOPING COUNTRIES Tanvir ALAM SHAHI0Ph.D. Fellow, Doctoral School of Economics University of Szeged, Szeged, HungaryWith the devastating impacts of climate change, it is evident that many polls show a shift in power generation from fossil fuels to renewable energy. To support this transition, flexible and adaptable support mechanisms are required to maintain a stable and attractive environment for investments in the renewable energy sector, while ensuring the reliability and sustainability of the energy system in an economical way. Auctions have gained momentum as a dominant strategy, either solely or in collaboration with supplementary trials, to provide incentives for renewable energy deployment. The auction mechanism has expanded widely, with only six states accepting Renewable Energy Sources (RES) auction in 2005, and at least 84 states adopting this tool by 2017. This study aims to explore the potential of the auction mechanism in promoting renewable energy in the developing countries like Bangladesh, which has yet to add the required capacity to its energy mix due to the lack of a suitable support scheme to achieve its carbon neutrality goal. The research outlines the opportunity to design auctions based on qualitative research along with levelised cost of electricity (LCOE) model as quantitative part, the impact of auctions on energy costs and thus the feasibility of suggested auctioning schemes based on countryspecific empirical evidence and benefits to develop an auctioning model for the countries. The potential auction model will add further positive value to the society as well as the both local and national economy. The results indicate that a systematic auctioning scheme with socio-economic development instruments, under a qualification requirement, can ensure various benefits for an emerging state with renewable energy resources.https://anale.steconomiceuoradea.ro/en/wp-content/uploads/2024/02/AUOES.July_.20231.pdfrenewable energyauctionsocio-economic developmentgains |
| spellingShingle | Tanvir ALAM SHAHI PRACTICING OF RENEWABLE ENERGY AUCTION SCHEME — EXPECTED SOCIETAL & ECONOMIC GAINS FOR THE DEVELOPING COUNTRIES Annals of the University of Oradea: Economic Science renewable energy auction socio-economic development gains |
| title | PRACTICING OF RENEWABLE ENERGY AUCTION SCHEME — EXPECTED SOCIETAL & ECONOMIC GAINS FOR THE DEVELOPING COUNTRIES |
| title_full | PRACTICING OF RENEWABLE ENERGY AUCTION SCHEME — EXPECTED SOCIETAL & ECONOMIC GAINS FOR THE DEVELOPING COUNTRIES |
| title_fullStr | PRACTICING OF RENEWABLE ENERGY AUCTION SCHEME — EXPECTED SOCIETAL & ECONOMIC GAINS FOR THE DEVELOPING COUNTRIES |
| title_full_unstemmed | PRACTICING OF RENEWABLE ENERGY AUCTION SCHEME — EXPECTED SOCIETAL & ECONOMIC GAINS FOR THE DEVELOPING COUNTRIES |
| title_short | PRACTICING OF RENEWABLE ENERGY AUCTION SCHEME — EXPECTED SOCIETAL & ECONOMIC GAINS FOR THE DEVELOPING COUNTRIES |
| title_sort | practicing of renewable energy auction scheme expected societal economic gains for the developing countries |
| topic | renewable energy auction socio-economic development gains |
| url | https://anale.steconomiceuoradea.ro/en/wp-content/uploads/2024/02/AUOES.July_.20231.pdf |
| work_keys_str_mv | AT tanviralamshahi practicingofrenewableenergyauctionschemeexpectedsocietaleconomicgainsforthedevelopingcountries |