Price stabilization & solar plant adoption: evidence from renewable energy transition in Chile

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dc.catalogadorpva
dc.contributor.advisorMontero Ayala, Juan Pablo
dc.contributor.advisorGonzález Lira, Andrés
dc.contributor.authorBermúdez Sánchez, Jose Carlo
dc.contributor.otherPontificia Universidad Católica de Chile. Instituto de Economía
dc.date.accessioned2025-08-19T21:18:48Z
dc.date.available2025-08-19T21:18:48Z
dc.date.issued2025
dc.date.updated2025-08-14T18:36:25Z
dc.descriptionTesis (Magíster en Economía)--Pontificia Universidad Católica de Chile, 2025
dc.description.abstractPrice stabilization policies have been a key driver of solar power plant adoption amid the ongoing renewable energy transition. This paper studies a policy introduced in Chile that allows generation units with an installed capacity below 9 MWs to opt for selling their electricity at the spot market price or a stabilized price. First, I document that the policy has shaped the size of entrants: there is a remarkable bunching of solar plants around the threshold. Second, I estimate a nested-logit model of solar plant adoption. Counterfactual analysis suggests that, in the absence of the price stabilization policy, 47.5% of the solar capacity would not have been installed at all. Finally, I examine the environmental implications of the policy in terms of thermal generation abatement and estimate an implicit price of 206 USD/ton CO2, above prices observed in cape-and-trade systems nowadays. A geographically targeted design would improve its environmental efficiency at a lower cost.
dc.description.funderFONDECYT
dc.fechaingreso.objetodigital2025-08-14
dc.format.extent32, 26 páginas
dc.fuente.origenAutoarchivo
dc.identifier.doi10.7764/tesisUC/ECO/105235
dc.identifier.urihttps://doi.org/10.7764/tesisUC/ECO/105235
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/105235
dc.information.autorucInstituto de Economía; Montero Ayala, Juan Pablo; 0000-0002-6815-0158; 87534
dc.information.autorucInstituto de Economía; González Lira, Andrés; S/I; 170790
dc.information.autorucFacultad de Economía y Administración; Bermúdez Sánchez, José Carlo; S/I; 1267948
dc.language.isoen
dc.nota.accesocontenido completo
dc.rightsacceso abierto
dc.rights.licenseAtribución 4.0 Internacional (CC BY 4.0)
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/deed.es
dc.subjectSolar PV
dc.subjectElectricity markets
dc.subjectRenewable energy
dc.subjectPrice stabilization
dc.subject.ddc330
dc.subject.deweyEconomíaes_ES
dc.subject.ods07 Affordable and clean energy
dc.subject.odspa07 Energía asequible y no contaminante
dc.titlePrice stabilization & solar plant adoption: evidence from renewable energy transition in Chile
dc.typetesis de maestría
sipa.codpersvinculados87534
sipa.codpersvinculados170790
sipa.codpersvinculados1267948
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