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Environmental Externalities, Market Distortions and the Economics of Renewable Energy Technologies

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  • Anthony D. Owen

Abstract

This paper reviews life cycle analyses of alternative energy technologies in terms of both their private and societal costs (that is, inclusive of externalities and net of taxes and subsidies). The economic viability of renewable energy technologies is shown to be heavily dependent upon the removal of market distortions. In other words, the removal of subsidies to fossil fuel-based technologies and the appropriate pricing of these fuels to reflect the environmental damage (local, regional, and global) created by their combustion are essential policy strategies for stimulating the development of renewable energy technologies in the stationary power sector. Policy options designed to internalize these externalities are briefly addressed.

Suggested Citation

  • Anthony D. Owen, 2004. "Environmental Externalities, Market Distortions and the Economics of Renewable Energy Technologies," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 127-158.
    • Handle: RePEc:aen:journl:2004v25-03-a07
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    JEL classification:

    • F0 - International Economics - - General

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