Renewable Electricity Generation

Economic Analysis and Outlook

Benjamin Zycher

This volume examines the outlook for renewable energy in electricity generation-particularly wind and solar power-as a substitute for conventional fuels such as coal and natural gas. Economist Benjamin Zycher evaluates the central arguments in favor of policies that would make way for broader use of renewables and concludes that all are deeply problematic. "Renewable" energy sources are not superior in cost to conventional fuels; nor are they less taxing on the environment. The popular argument that increased use of renewables will create "green jobs" is likewise a fallacy-because wind and solar power are costly and inefficient, the net economic impact is a negative one. Zycher concludes that resource-use behaviors emerging from market competition are the best guides to effective, sustainable energy policies.

AEI Press

Pages: 80 • Trim: 6 x 9

978-0-8447-7222-6 • Paperback • October 2011 • $35.00 • (£27.00)

978-0-8447-7223-3 • eBook • November 2011 • $33.00 • (£25.00)

Subjects: Business & Economics / Environmental Economics, Business & Economics / Green Business, Business & Economics / Industries / Energy Industries

Renewable Electricity Generation

Economic Analysis and Outlook

Paperback

eBook

Summary

This volume examines the outlook for renewable energy in electricity generation-particularly wind and solar power-as a substitute for conventional fuels such as coal and natural gas. Economist Benjamin Zycher evaluates the central arguments in favor of policies that would make way for broader use of renewables and concludes that all are deeply problematic. "Renewable" energy sources are not superior in cost to conventional fuels; nor are they less taxing on the environment. The popular argument that increased use of renewables will create "green jobs" is likewise a fallacy-because wind and solar power are costly and inefficient, the net economic impact is a negative one. Zycher concludes that resource-use behaviors emerging from market competition are the best guides to effective, sustainable energy policies.

Details

AEI Press

Pages: 80 • Trim: 6 x 9

978-0-8447-7222-6 • Paperback • October 2011 • $35.00 • (£27.00)

978-0-8447-7223-3 • eBook • November 2011 • $33.00 • (£25.00)

Subjects: Business & Economics / Environmental Economics, Business & Economics / Green Business, Business & Economics / Industries / Energy Industries

Author

Benjamin Zycher is a senior fellow in economic studies at the Pacific Research Institute.

Table of Contents

List of illustrations
Acknowledgments
Executive Summary
Introduction
Chapter 1: A Summary of Public Policy Support for Renewable Energy in Electricity Generation
Appendix to Chapter 1
Chapter 2: Problems Afflicting Renewable Energy in Electricity Generation
Unconcentrated Energy Content
Siting Limitations and Transmission Costs
Low Availability and Intermittency
Chapter 3: Central Rationales for Policy Support for Renewables: A Review
The Infant-Industry Argument
Leveling the Playing Field
Adverse External Effects of Conventional Generation
The Resource Depletion or “Sustainability” Argument
“Green Jobs”: Renewable Power as a Source of Expanded Employment
Chapter 4: Some Implications of the Outlook for the Natural Gas Market
Conclusion
Index
About the Author

Renewable Electricity Generation

Economic Analysis and Outlook

Benjamin Zycher

Renewable Electricity Generation

Economic Analysis and Outlook

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