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Renewable Energy Investment Decisions under Policy Risk: An Adaptive Conjoint Analysis (ACA) Approach

In: Cross-Sector Leadership for the Green Economy

Author

Listed:
  • Sonja Lüthi

    (University of St. Gallen)

  • Rolf Wüstenhagen

    (University of St. Gallen)

Abstract

Governments often provide assistance to firms, especially energy-efficiency and renewable-energy businesses (Marcus, Anderson, Cohen, and Sutliffe, 2010). For example, in the 1970s the U.S. federal government offered subsidies to firms that developed solar panels and tax credits to consumers who purchased these products (Marcus, 1992). There have been a host of such programs, including the 2009 Economic Stimulus Act, which allocated more than $27 billion in direct and indirect aid to energy-efficiency and renewable-energy businesses (See Table 4.1). The government, for example, has provided tax credits to firms producing wind power, enabling them to sell more products and services, or sell them sooner, than otherwise would be economically feasible. Past research suggests that managers in energy efficiency and renewable energy businesses often are the beneficiaries of government policies. By making substitute products and services less attractive, public policies such as mandated performance standards, taxes, and other programs lift public awareness and increase interest in the products and service that energy efficiency and renewable energy businesses offer (Gale & Buchholz, 1987; Russo, 2001; Sine, Haveman, & Tolbert, 2005).

Suggested Citation

  • Sonja Lüthi & Rolf Wüstenhagen, 2011. "Renewable Energy Investment Decisions under Policy Risk: An Adaptive Conjoint Analysis (ACA) Approach," Palgrave Macmillan Books, in: Alfred Marcus & Paul Shrivastava & Sanjay Sharma & Stefano Pogutz (ed.), Cross-Sector Leadership for the Green Economy, chapter 0, pages 37-52, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-01589-1_3
    DOI: 10.1057/9781137015891_3
    as

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