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Preprints, Working Papers, ... Year : 2019

Determinants of investments in solar photovoltaic: Do oil prices really matter?

Margaux Escoffier
  • Function : Author
  • PersonId : 1081127
Emmanuel Hache
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  • PersonId : 1042960
Valérie Mignon
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  • PersonId : 1016632
Anthony Paris
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  • PersonId : 1023609
  • IdRef : 232379963

Abstract

This paper investigates the determinants of solar photovoltaic (PV) deployment in the electricity mix for a panel of OECD and BRICS countries from 1997 to 2016 by paying particular attention to the impact of oil market conditions. Relying on a nonlinear, regime-switching specification, we show that rising oil prices stimulate PV deployment only if their growth rate is important, above 6.7%. Although we find that various other determinants matter—with the influence of some of them depending on the situation on the oil market—public policies play a crucial role. In particular, our findings show that feed-in-tariffs should be encouraged to ensure a continuous fight against climate change, whatever the dynamics followed by oil prices.
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Dates and versions

hal-04141866 , version 1 (26-06-2023)

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  • HAL Id : hal-04141866 , version 1

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Margaux Escoffier, Emmanuel Hache, Valérie Mignon, Anthony Paris. Determinants of investments in solar photovoltaic: Do oil prices really matter?. 2019. ⟨hal-04141866⟩
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