연구정보
[경제] Renewable Energy Investments and Feed-in Tariffs: Firm-Level Evidence from Southeast Asia
동남아시아 일반 국외연구자료 연구보고서 - Asian Development Bank 발간일 : 2023-07-18 등록일 : 2023-07-23 원문링크
We examine the impact of feed-in tariffs (FITs) on promoting investments in renewable energy (RE) in Southeast Asia. Using a unique annual firm-level dataset from six Southeast Asian economies from 2012 to 2021, we find robust evidence that FITs in Southeast Asian economies substantially boost firms’ investments in RE. Moreover, the impact of FITs on RE investments varies across RE technologies. We find significant and positive impacts of a solar FIT on promoting investments in RE, but such impacts are insignificant for FITs on other RE technologies including wind and biomass, geothermal, and hydro technologies. Further, the impact of FITs on RE investment is more pronounced among younger and smaller firms than in older and larger firms. Our empirical evidence has implications for policy makers in tailoring the design of new FITs to promote private sector investments in RE.
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