Renewable energy investors in Sweden: a cross-subsector analysis of dynamic capabilities
2015 (English)In: Utilities Policy, ISSN 0957-1787, E-ISSN 1878-4356, Vol. 37, 46-57 p.Article in journal (Refereed) Published
Tradable Green Certificates (TGC) schemes are among the prevalent policy frameworks to promote investments in Electricity from Renewable Energy Sources (RES-E). However, a technology-neutral design of the TGC system is coupled with uneven competition across renewable energy subsectors. The cost of RES-E technologies is often identified as the primary cause for this unevenness. This paper sheds light on additional explanatory factors for uneven competition, illustrating that investment paths vary across subsectors. Such paths can influence investor dynamic capabilities to explore new market opportunities and reinforce future investment behavior in each subsector. Empirical data from the Swedish TGC system for wind power, biopower, and hydropower are used for this analysis. The results indicate that investor dynamic capabilities related to cumulative experience and industrial diversification vary significantly across renewable energy subsectors. The findings are relevant to TGC program design.
Place, publisher, year, edition, pages
2015. Vol. 37, 46-57 p.
Electricity from renewable energy sources (RES-E), Investors, Investment paths, Comparative analysis, Cumulative experience, Industrial diversification
Research subject Energy Technology
IdentifiersURN: urn:nbn:se:kth:diva-177459DOI: 10.1016/j.jup.2015.09.008ISI: 000367110700005ScopusID: 2-s2.0-84949525327OAI: oai:DiVA.org:kth-177459DiVA: diva2:872871
QC 20151202. QC 201601212015-11-202015-11-202016-01-21Bibliographically approved