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Essays on Optimal Energy Policy
Essays on Optimal Energy Policy
상세정보
- 자료유형
- 학위논문 서양
- 최종처리일시
- 20260209102853
- ISBN
- 9798291567111
- DDC
- 621
- 저자명
- Kay, Owen.
- 서명/저자
- Essays on Optimal Energy Policy
- 발행사항
- [Sl] : University of Michigan, 2025
- 발행사항
- Ann Arbor : ProQuest Dissertations & Theses, 2025
- 형태사항
- 188 p
- 주기사항
- Source: Dissertations Abstracts International, Volume: 87-03, Section: B.
- 주기사항
- Advisor: Hausman, Catherine;Hines, James R., Jr.
- 학위논문주기
- Thesis (Ph.D.)--University of Michigan, 2025.
- 초록/해제
- 요약This dissertation contains three chapters studying optimal energy policy. Chapter 1 studies the choice between using a pollution tax or a clean subsidy to reduce greenhouse gas emissions in an open economy. Chapter 2 examines how policymakers should modify the design of taxes and subsidies that are time-limited, using the US wind energy industry as a case study. Chapter 3 studies the efficiency benefits from increasing long-distance transmission in US electricity markets and documents the impact such an increase would have on incumbent market participants. Chapter 1, titled "Pollution Taxes and Clean Subsidies in an Open Economy," presents the theoretically optimal combination of a pollution tax and a clean subsidy for an open economy. Unlike in a closed economy, where the optimal policy is to use a Pigouvian tax on polluting production without any subsidies for clean production, openness to trade creates an efficiency rationale to supplement pollution taxes with clean subsidies. The relative reliance on the clean subsidy as opposed to the pollution tax depends on how much dirty production moves abroad in response to a domestic pollution tax, or "pollution leakage." Furthermore, efficient corrective policy sets the sum of the tax and subsidy rates, a measure of policy ambition, equal to the marginal damages from pollution, and therefore does not depend on the leakage rate. Chapter 2, titled "Time-Limited Subsidies: Optimal Taxation with Implications for Renewable Energy Subsidies" and coauthored with Michael Ricks, studies environmental taxes and subsidies that last for a limited duration or are uncertain. When output subsidies are time-limited, the optimal policy combines an output subsidy with an investment subsidy to correct externalities generated after the subsidy ends. Furthermore, an output subsidy's optimal duration is characterized by the change in production when it ends. In the wind-energy industry, power generation decreases by 5-10% after the end of facilities' ten-year eligibility for the Renewable Energy Production Tax Credit, implying that the time limit creates significant social costs. Chapter 3, titled "Power Flows, Part 2: Transmission Lowers U.S. Generation Costs, But Generator Incentives Are Not Aligned" and coauthored with Dasom Ham and Catherine Hausman, studies the efficiency and political economy implications of eliminating interregional transmission constraints in US electricity markets. The transmission network has become increasingly strained as new sources of electricity supply are not spatially matched to demand. Better market integration could have lowered US generation costs by $5.8 to 7.1 billion in 2022 and $3.4 to 5.0 billion in 2023. Despite these overall potential cost savings, we show that market integration creates winners and losers among incumbent generation companies---of interest because generators have a large say in whether transmission projects are developed. We show clear spatial patterns in generation company outcomes, documenting that producers in some regions have incentives to delay or block grid integration despite the overall system benefits.
- 일반주제명
- Energy
- 일반주제명
- Applied mathematics
- 키워드
- Energy policy
- 키워드
- Open economy
- 기타저자
- University of Michigan Public Policy & Economics
- 기본자료저록
- Dissertations Abstracts International. 87-03B.
- 전자적 위치 및 접속
- 로그인 후 원문을 볼 수 있습니다.
MARC
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■00520260209102853
■006m o d
■007cr#unu||||||||
■020 ▼a9798291567111
■035 ▼a(MiAaPQ)AAI32271876
■035 ▼a(MiAaPQ)umichrackham006429
■040 ▼aMiAaPQ▼cMiAaPQ
■0820 ▼a621
■1001 ▼aKay, Owen.
■24510▼aEssays on Optimal Energy Policy
■260 ▼a[Sl]▼bUniversity of Michigan▼c2025
■260 1▼aAnn Arbor▼bProQuest Dissertations & Theses▼c2025
■300 ▼a188 p
■500 ▼aSource: Dissertations Abstracts International, Volume: 87-03, Section: B.
■500 ▼aAdvisor: Hausman, Catherine;Hines, James R., Jr.
■5021 ▼aThesis (Ph.D.)--University of Michigan, 2025.
■520 ▼aThis dissertation contains three chapters studying optimal energy policy. Chapter 1 studies the choice between using a pollution tax or a clean subsidy to reduce greenhouse gas emissions in an open economy. Chapter 2 examines how policymakers should modify the design of taxes and subsidies that are time-limited, using the US wind energy industry as a case study. Chapter 3 studies the efficiency benefits from increasing long-distance transmission in US electricity markets and documents the impact such an increase would have on incumbent market participants. Chapter 1, titled "Pollution Taxes and Clean Subsidies in an Open Economy," presents the theoretically optimal combination of a pollution tax and a clean subsidy for an open economy. Unlike in a closed economy, where the optimal policy is to use a Pigouvian tax on polluting production without any subsidies for clean production, openness to trade creates an efficiency rationale to supplement pollution taxes with clean subsidies. The relative reliance on the clean subsidy as opposed to the pollution tax depends on how much dirty production moves abroad in response to a domestic pollution tax, or "pollution leakage." Furthermore, efficient corrective policy sets the sum of the tax and subsidy rates, a measure of policy ambition, equal to the marginal damages from pollution, and therefore does not depend on the leakage rate. Chapter 2, titled "Time-Limited Subsidies: Optimal Taxation with Implications for Renewable Energy Subsidies" and coauthored with Michael Ricks, studies environmental taxes and subsidies that last for a limited duration or are uncertain. When output subsidies are time-limited, the optimal policy combines an output subsidy with an investment subsidy to correct externalities generated after the subsidy ends. Furthermore, an output subsidy's optimal duration is characterized by the change in production when it ends. In the wind-energy industry, power generation decreases by 5-10% after the end of facilities' ten-year eligibility for the Renewable Energy Production Tax Credit, implying that the time limit creates significant social costs. Chapter 3, titled "Power Flows, Part 2: Transmission Lowers U.S. Generation Costs, But Generator Incentives Are Not Aligned" and coauthored with Dasom Ham and Catherine Hausman, studies the efficiency and political economy implications of eliminating interregional transmission constraints in US electricity markets. The transmission network has become increasingly strained as new sources of electricity supply are not spatially matched to demand. Better market integration could have lowered US generation costs by $5.8 to 7.1 billion in 2022 and $3.4 to 5.0 billion in 2023. Despite these overall potential cost savings, we show that market integration creates winners and losers among incumbent generation companies---of interest because generators have a large say in whether transmission projects are developed. We show clear spatial patterns in generation company outcomes, documenting that producers in some regions have incentives to delay or block grid integration despite the overall system benefits.
■590 ▼aSchool code: 0127.
■650 4▼aEnergy
■650 4▼aApplied mathematics
■653 ▼aEnergy policy
■653 ▼aEnvironmental taxes and subsidies
■653 ▼aOptimal energy policy
■653 ▼aOpen economy
■653 ▼aRenewable energy subsidies
■690 ▼a0501
■690 ▼a0791
■690 ▼a0511
■690 ▼a0438
■690 ▼a0364
■71020▼aUniversity of Michigan▼bPublic Policy & Economics.
■7730 ▼tDissertations Abstracts International▼g87-03B.
■790 ▼a0127
■791 ▼aPh.D.
■792 ▼a2025
■793 ▼aEnglish
■85640▼uhttp://www.riss.kr/pdu/ddodLink.do?id=T17365909▼nKERIS▼z이 자료의 원문은 한국교육학술정보원에서 제공합니다.
