Economic modelling of the diffusion of wind power in Germany: comparison of approaches and policy implications
نویسندگان
چکیده
This paper studies the economics and the economic modelling of the adoption and diffusion of wind power technology. In particular, the decision-making problem of potential investors in wind power capacity is discussed. Moreover, we analyze the heterogeneity of adopters and regional diffusion patterns, as well as the impact of dynamic factors, such as technical progress, learning, scale economies, buy-back rates, and saturation effects on the diffusion process. A micro-economic and an aggregate (epidemic) diffusion model specification are introduced. The focus of the study is on onshore wind power market development in Germany. Optimal diffusion policy considerations are also briefly discussed.
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