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    Por favor, use este identificador para citar o enlazar este ítem: http://hdl.handle.net/10259/5490

    Título
    Spanish photovoltaic solar energy: institutional change, financial effects, and the business sector
    Autor
    Fernández González, Raquel
    Suárez García, Andrésuntranslated
    Álvarez Feijoo, Miguel
    Arce Fariña, Elena
    Diez Mediavilla, Montserratuntranslated Orcid
    Publicado en
    Sustainability. 2020, V. 12, n. 5, 1892
    Editorial
    MDPI
    Fecha de publicación
    2020-03
    DOI
    10.3390/su12051892
    Abstract
    Spain is a country with a high dependence on fossil fuels. For this reason, in 2007, it implemented a bonus system that aimed to encourage the production of renewable energies, particularly photovoltaic solar energy. These production bonuses, guaranteed by the Spanish government, led to an exponential increase in the number of companies in the market and, consequently, the MWh produced. However, in 2012, given the excessive budgetary burden involved in maintaining this “feed-in tariff” system and after several years of institutional instability, the aforementioned system of incentives for phoyovoltaic (PV) energy was eliminated. This paper has tried to analyze the consequences of this institutional change, a clear example of the “hold up” problem. For this purpose, a sample of 5354 companies, which was divided, geographically, into Spanish regions and, temporarily, into three different periods, has been taken, considering diverse economic and financial variables. The results show a notable weakening of the sector that, due to the effects of the regulatory change, has lost attractiveness and profitability for investors and is consequently suffering from stagnation, which has led to the disappearance of many companies in the sector.
    Palabras clave
    Spain
    solar photovoltaics
    institutional frameworks for energy transition
    hold-up problem
    Materia
    Ingeniería eléctrica
    Electric engineering
    Energía-Aspectos económicos
    Energy (Economics)
    URI
    http://hdl.handle.net/10259/5490
    Versión del editor
    https://doi.org/10.3390/su12051892
    Collections
    • Artículos SWIFT
    Atribución 4.0 Internacional
    Documento(s) sujeto(s) a una licencia Creative Commons Atribución 4.0 Internacional
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    Fernandez-sustainability_2020.pdf
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    2.247Mb
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