Working papers, Department of Economics, WU (Wirtschaftsuniversität Wien)
Renewable Energy Sources and Investment in European Power Transmission Networks
Abstract: During the past decade, renewable energy sources have
become an indispensable pillar in European electricity generation. This
paper aims at examining if the increasing importance of renewables
stimulates investment in European power transmission networks. The question
of interest is addressed by an error correction investment model that
builds on Neoclassical theory and is further augmented by recent literary
findings. Under the proposed threefold estimation strategy, the share of
renewables is not found to significantly influence investment spending when
the full set of transmission system operators are considered. However, a
slight and justified sample restriction leads to the conclusion that a
rising share of renewable energy sources substantially increases investment
in power transmission networks.
Keywords: Renewables, Investment, Transmission Network, Electricity; (follow links to similar papers)
JEL-Codes: C33,; L50,; L94,; Q42,; Q48; (follow links to similar papers)
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