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DOI	10.1016/j.enpol.2021.112598
	“The Answer My Friend is Blowin’ in the Wind”: A stochastic assessment of wind farms financial feasibility and economic efficiency
	Kumar I.; Tyner W.E.; Labi S.; Sinha K.C.
发表日期	2021
ISSN	0301-4215
卷号	159
英文摘要	Two financial incentives that have spurred the growth of renewable energy including wind farms are Production Tax Credits (PTC) and Property Tax Abatement (PTA). PTC provides a tax credit of 1¢–2¢ per kilowatt-hour for the first 10 years of electricity generation for utility-scale wind, and PTA is a rebate provided by the local governments to wind farms in the U.S. Midwestern states. Past researches suggest that the breaking-even of renewable energy projects can partly be attributed to PTC. However, in cognizance of the irregular availability of such incentives, there seems to exist a need for financial feasibility analysis of the wind farms. The study uses a stochastic method and a scenario approach to address this research question. The analysis considers the capital and operating costs, interest payments, local and federal taxes, and production of wind energy and sales revenues, and inherent uncertainties in key parameters. The results shed some light on the impacts of PTC and PTA on the financial feasibility of wind farms in the U.S. Midwestern states. It is observed that PTC is a more effective instrument compared to PTA. The paper concludes by discussing policy implications of local government rebates and federal incentives. © 2021 Elsevier Ltd
英文关键词	Energy policy act; Production tax credits; Property tax abatement; Wind energy; Wind farms
语种	英语
scopus关键词	Electric utilities; Energy policy; Operating costs; Stochastic systems; Uncertainty analysis; Wind power; Economic efficiency; Energy Policy Act; Financial incentives; Local government; Production tax credit; Property tax abatement; Property taxes; Stochastic assessment; Tax abatement; Wind farm; Taxation; alternative energy; assessment method; energy policy; feasibility study; stochasticity; wind farm; wind power; United States
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256498
作者单位	Purdue Center for Regional Development, Purdue University, United States; Department of Agricultural Economics, Purdue University, United States; Lyles School of Civil Engineering, Purdue University, United States
推荐引用方式 GB/T 7714	Kumar I.,Tyner W.E.,Labi S.,等. “The Answer My Friend is Blowin’ in the Wind”: A stochastic assessment of wind farms financial feasibility and economic efficiency[J],2021,159.
APA	Kumar I.,Tyner W.E.,Labi S.,&Sinha K.C..(2021).“The Answer My Friend is Blowin’ in the Wind”: A stochastic assessment of wind farms financial feasibility and economic efficiency.Energy Policy,159.
MLA	Kumar I.,et al."“The Answer My Friend is Blowin’ in the Wind”: A stochastic assessment of wind farms financial feasibility and economic efficiency".Energy Policy 159(2021).