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• Comprehensive review on individual and hybrid wind-solar energy policy. • Evolution and current status of Indian wind and solar energy policy framework. • Techno-economic parameters for the hybridization of wind and solar power projects. • Barriers and recommendation regarding renewable energy policies. Wind and solar energy are currently the most prominent and reliable sources of renewable energy. Wind and solar power deployment largely depend on government policies and have a specific policy and regulatory provisions. The declaration of hybrid wind–solar policy has changed the dynamics of individual wind and solar power projects by introducing the scope for developing hybrid power projects to harness wind and solar energy simultaneously. The techno-economic structure and the existing scenarios of the fractional contribution of wind and solar sectors are going to play an important role in the development of hybrid power projects. This paper aims to present a comprehensive review of the impact of the existing individual wind and solar energy policies along with the recently declared hybrid policy in India and how this hybrid policy will affect the techno-economic structure of the existing and new power projects. Further, various kind of barriers faced by project developers while establishing renewable energy-based power projects and recommendations which can be practically implemented have been elaborated to facilitate and achieve the faster deployment of wind and solar power generation. [ABSTRACT FROM AUTHOR]

Nowadays, there are many technologies to supply buildings with heat, cooling and electricity as well as technologies for energy storage. With regard to the energy transition, it is needed to switch the energy supply to renewable resources, to apply energy storage to balance the volatile resources available and to link the different energy sectors with each other. However, the current structure of taxes and levies does not lead to the application of corresponding energy systems. The motivation of this research work is on the one hand to investigate the influence of current regulation, taxes and charges on energy carriers on building energy systems. Furthermore, the aim is to show which regulatory approaches represent the most cost-effective solutions for energy supply that lead to carbon dioxide (CO 2) neutrality and also to the use of energy storage systems. A mixed-integer linear programming is used to optimise the different supply components considering variable electricity tariffs. The perspective of the analysis is on the individual building. Since the use of district heating is not an individual economic decision and district heating plays a minor role apart from e.g. some northern European countries, it was not considered in the studies presented here. In the studies, technologies for the use and storage of renewable energy were considered that can be integrated into individual buildings and are subject to an individual economic decision. Technologies that cannot be integrated into buildings but are essential for the energy transition, such as wind energy, are integrated indirectly via the flexible electricity price determined by the merit order. Here, government forecasts and scenarios as well as various concepts for the taxation of energy sources had been considered. A new method for the estimation of investment costs between 2015 and 2050 is developed and applied. The paper shows how an optimal building energy supply would look like under changed legal framework conditions as well as different tax burdens and reliefs. The paper concludes with a series of inference s and recommendations for adapted regulation to achieve the goals of defossilisation of the building sector. [ABSTRACT FROM AUTHOR]

The rapid growth of China׳s installed wind power capacity in recent years is closely related to the wind energy policies issued by the Chinese government. Using content analysis and quantitative analysis methods, this paper studies the historical evolution of Chinese wind energy policies. Based on 72 wind energy policies issued in the past two decades (1995–2014), this paper analyzes the issuing organization, form, number and stringency of wind energy policies and compares different policy instruments in two periods. The results show that the number and stringency of wind energy policies fluctuated greatly from 1995 to 2014 and that more than twenty organizations had independently or jointly issued the policies. The main organization issuing wind energy policies, however, is the department that controls key economic and administrative resources and not the one that is in charge of wind energy. Of the 72 policies issued, twenty-three took the form of notices, and eleven were measures. As to the policy instrument, environmental policies are most widely applied by the Chinese government, and “regulation control” and “goal-planning” instruments are the ones most frequently adopted. Furthermore, the application of supply- and demand-type policies is inadequate, and few effective instruments have been adopted. [ABSTRACT FROM AUTHOR]

In order to assess the viability of wind energy projects in China, this paper takes a real options approach by accounting for flexibility over deployment of the technology in response to a stochastic non-renewable energy cost. The difference between the latter and the R&D-enhanced cost of renewable energy operation may be thought of as a benefit from using wind. On the other hand, the Chinese government provides feed-in tariffs to encourage further adoption of wind, which should be included as a cost. This work, thus, shows that there is substantial options value to China's wind energy program, which is bolstered if the cost of carbon dioxide emissions is internalized. Moreover, by varying the rate of feed-in tariffs, the model may be used to show plausible ranges for the feed-in tariffs, which could be a useful policy insight. Furthermore, the study hypothesizes that with the likelihood of renewable energy to replace non-renewable energy, wind power in China can potentially reduce CO 2 emissions by approximately 6.4% by 2020 comparing to the 2005 level and highlights the significant role of wind power in China's emission targets and energy security. This is a relevant paper, especially given the importance of a sustainable energy transition for China. More generally, using the real options approach from a policy perspective could provide insights about the viability of renewable energy programs and robustness of feed-in tariffs rates. [ABSTRACT FROM AUTHOR]

Offshore wind energy generation has experienced an important growth in the last five years, reaching currently an installed capacity of almost 8000 MW. The most important references in this type of technology are Denmark, Holland, Sweden, Germany and United Kingdom. In Spain, previsions for technology, have been set at around 750 MW of installed power during the period 2011–2020. However, Spanish coastal features, social opposition to installations near the coast and lack of a stable regulatory environment guaranteeing the investments are factors which are restraining the development of this technology. This paper presents a brief review of the state of the art of offshore wind technology and it describes the most frequently used types of turbines, transmission systems and support structures in Europe. It also presents the current situation and the expected growth of offshore wind power facilities, introducing the characteristics of the operational – and under construction – windfarms. Finally, it analyses particular problems and solutions for its development in Spain which can be extrapolated to countries with similar circumstances. [ABSTRACT FROM AUTHOR]

Expansion of renewable energies in Germany is strongly associated with decentralization of energy provision. In the case of wind energy there are especially strong regional-level spatial, technical, economic, and social ramifications of this energy source. In addition to differing natural conditions and the strong push from the federal feed-in tariffs, policies and initiatives at the state, county, and municipal level need to be considered when explaining the pattern of wind energy expansion across time and space and to improve the coordination of multi-level energy policies. This paper uses panel regressions at the level of German counties from 2001 to 2012 to explore the growth of wind power capacity. Based on the estimates obtained, we then analyze counterfactual scenarios in which factors influenced by the regional (county) level are varied individually. Our focus is on party policy preferences and coalitions on the one hand, and the unemployment rate on the other. While strict causality is difficult to establish, our results reveal heterogeneous incentives between states, within states, and between different county types. [ABSTRACT FROM AUTHOR]

This paper examines the impacts of uncertainties in U.S. renewable energy policy on the investment decisions of renewable electricity producers. We develop and solve a dynamic optimization model to understand how investment in wind energy depends on market and policy uncertainties. These uncertainties include the federal government’s uncertain decision about the continuation of the Production Tax Credit (PTC) policy and the stochasticity of prices in the market for Renewable Electricity Credits (RECs). Our results show that investors require higher REC prices to invest without the PTC policy. Results contribute to our understanding of how policy uncertainty affects the profitability threshold required for investors to commit to renewable energy projects. [ABSTRACT FROM AUTHOR]

This study focuses on the problem of generation expansion planning and the integration of an increasing share of renewable energy sources (RES) technologies in the power grid. A survey of papers addressing the use of optimization models for electricity generation planning is presented. From this, an electricity planning model able to integrate thermal and RES power plants was proposed. An analysis of different electricity scenarios for a mixed hydro–thermal–wind power system is presented using the proposed mixed integer optimization model. The results show the importance of these tools to support the strategic energy policy decision making under different regulatory or political scenarios. The expected impacts in terms of costs and CO 2 emissions are evaluated for a 10 year planning period, and a set of optimal scenarios is analyzed. The use of the model to obtain and characterize close to optimal scenarios is shown to be strategically useful. In particular the impact of different wind power scenarios is addressed, demonstrating the relevance of assessing other possible strategies that, despite not being original Pareto solutions, may be worth considering by the decision makers. [ABSTRACT FROM AUTHOR]

Ambitious policy targets together with current and projected high growth rates indicate that future power systems will likely show substantially increased generation from renewable energy sources. A large share will come from the variable renewable energy (VRE) sources wind and solar photovoltaics (PV); however, integrating wind and solar causes challenges for existing power systems. In this paper we analyze three major integration challenges related to the structural matching of demand with the supply of wind and solar power: low capacity credit, reduced utilization of dispatchable plants, and over-produced generation. Based on residual load duration curves we define corresponding challenge variables and estimate their dependence on region (US Indiana and Germany), penetration and mix of wind and solar generation. Results show that the impacts of increasing wind and solar shares can become substantial, and increase with penetration, independently of mix and region. Solar PV at low penetrations is much easier to integrate in many areas of the US than in Germany; however, some impacts (e.g. over-production) increase significantly with higher shares. For wind power, the impacts increase rather moderately and are fairly similar in US Indiana and Germany. [ABSTRACT FROM AUTHOR]

Renewable energy can play a strategic role in India in meeting the country’s growing energy demands, as well as combating climate change. Policymakers have recognized this potential and over the last decade have intensified their efforts towards creating a conducive regulatory and policy framework. Policy instruments such as renewable obligations, feed-in-tariffs and generation based incentives have specially aided the transformation towards large scale generation, enabling higher efficiency and lower costs of generation. However, financing has emerged as a significant barrier for sustaining the momentum gained in recent years. Given this background this paper provides an overview on the evolution of large scale generation and the consequent changes in financing requirements. It further reviews the emerging trends and barriers in the financing landscape and analyses the impact of policy performance in this context. Finally, it considers the design of a national renewable finance framework complete with targeted finance push instruments that can complement existing demand pull policies in facilitating investment. [ABSTRACT FROM AUTHOR]

Integrating variable and non-dispatchable renewable power generation into existing power systems will have consequences for their operation and future expansion. These impacts will depend on two factors: (1) the variability of the total renewable power generation on different time scales and (2) the possibilities of accurately forecasting these fluctuations. In this paper, previous research on variability assessment and forecasting of solar, wind, wave and tidal energy resources is reviewed. The aim is to summarize the state of knowledge in each area and to compare the approaches used for the respective resources. For temporal variability, methods and models used for assessing the variability are surveyed, as well as what is known about the variability at individual sites and for larger aggregates of sites. For forecasting, an overview of forecasting methods for the different resources is made, and selected forecasting methods are compared over different time horizons. An important finding is that it is hard to draw strong conclusions from the existing studies due to differences in approaches and presentation of results. There is a need for further, more coherent studies that analyze the variability for the different resources in comparable ways, using data with the same resolution, and for studies that evaluate the smoothing effect and complementarity of combinations of several renewable energy resources. For forecasting, future research should suggest ways to evaluate forecasts from different renewable energy sources in easily comparable ways, using data from the same locations or regions, with the same temporal and spatial resolution, and with comparable metrics for the forecasting errors. [ABSTRACT FROM AUTHOR]

A significant number of Life Cycle Assessment (LCA) analyses of renewable energy technologies is available in the literature, even though there is a lack of consistent conclusions about the life cycle impacts of the different technologies. The reported results vary consistently, according to the size and the technology of the considered plant, thus limiting the utility of LCA to inform policy makers and constituting a barrier to the deployment of a full awareness on sustainable energies. This variability in LCA results, in fact, can generate confusion regarding the actual environmental consequences of implementing renewable technologies. The article reviews approximately 50 papers, related to more than 100 different case studies regarding solar energy (Concentrated Solar Power, Photovoltaic), wind power, hydropower, and geothermal power. A methodology for the harmonization of the results is presented. The detailed data collection and the results normalization and harmonization allowed a more reliable comparison of the various renewable technologies. For most of the considered environmental indicators, wind power technologies turn out to be the low end while geothermal and PV technologies the high end of the impact range where all the other technologies are positioned. [ABSTRACT FROM AUTHOR]

Abstract: Wind power is one of the world׳s major renewable energy sources, and its utilization provides an important contribution in helping solve the energy problems of many countries. After nearly 40 years of development, China׳s wind power industry now not only manufactures its own massive six MW turbines but also has the largest capacity in the world with a national output of 50millionMWh in 2010 and set to rise by eight times of that amount by 2020. This paper investigates this development route by analyzing relevant academic literature, statistics, laws and regulations, policies and research and industry reports. The main drivers of the development in the industry are identified as technologies, turbines, wind farm construction, pricing mechanism and government support systems, each of which is also divided into different stages with distinctive features. A systematic review of these aspects provides academics and practitioners with a better understanding of the history of the wind power industry in China and reasons for its rapid development with a view to enhancing progress in wind power development both in China and the world generally. [Copyright &y& Elsevier]

Abstract: Global exploitation of renewable energy technologies is increasing rapidly due to the concern in global warming and dwindling supplies of fossil fuels. Most of the countries in the world are blessed with two or more renewable energy sources (RES) and hence have formulated policies to boost the utilization of RES for their electricity production. An assessment of renewable electricity scenario is essential for research and development related works in the field of renewable energy technologies in order to further develop the renewable energy industry. Recent developments in installation capacities, costs and reductions in electricity costs of major RES based electricity generation methods are discussed in this paper. It also includes the past growth and future expectations of renewable electricity production. The analysis shows that if the current developments in renewable industry continue, then a major share of global electricity production in the future could be supplied by renewable energy technologies. The analysis further shows that a significant amount of fuel cost and pollutants emission can be reduced by the increased use of RES based electrical power production technologies. [Copyright &y& Elsevier]

Abstract: Successful technological innovation frameworks are based on synergistic packages of technology-push and demand-pull measures. As the massive deployment of premature renewable energy technologies risks becoming very expensive, the debate on the optimal trajectory of renewable technologies should explicitly consider the balance between deployment incentives and R&D efforts. This paper explores this balance regarding wind and PV technology support in Europe. Based on rather conservative estimates, we calculate future deployment costs and compare these figures to the current public investments in PV and wind R&D. We find that, today, for each Euro spent on R&D to develop future technologies, 35 to 41 Euros are spent on the deployment of existing technologies. Furthermore, private PV and wind technology companies tend to underinvest in R&D for various reasons. In an alternative scenario, we assess the optimal R&D efforts for the PV and wind sectors based on a 7% R&D-to-sales benchmark that is typical for engineering sectors. If public R&D efforts would increase according to this benchmark, and hence compensate for the private underinvestments in R&D, pull/push ratios between 6 and 8 could be achieved. This leads us to conclude that the current balance between deployment and R&D is far from optimal. [Copyright &y& Elsevier]

Distributed energy storage is a solution for increasing self-consumption of variable renewable energy such as solar and wind energy at the end user site. Small-scale energy storage systems can be centrally coordinated by "aggregation" to offer different services to the grid, such as operational flexibility and peak shaving. This paper shows how centralized coordination vs. distributed operation of residential electricity storage (home batteries) could affect the savings of owners. A hybrid method is applied to model the operation of solar photovoltaic (PV) and battery energy storage for a typical UK householder, linked with a whole-system power system model to account for long-term energy transitions. Based on results, electricity consumers can accumulate greater savings under centralized coordination by between 4 and 8% when operating no technology, by 3-11% with electricity storage alone, by 2-5% with stand-alone solar PV, while 0-2% with PV-battery combined. Centralized coordination of home batteries offers more optimized electricity prices in the system, and as such, higher private savings to all consumers. However, consumers without onsite energy technologies benefit more than PV-battery owners. Therefore, based on system-level benefits of aggregation, the regulator should incentivize prosumers with PV-battery, who are able to balance their electricity supply-demand even without central coordination, to let their storage be controlled centrally. Possible revenues of storage owners from ancillary services as well as the cost of aggregation (e.g., transaction fees charged by aggregators) are not considered in this analysis. • Centralized coordination vs. distributed operation of residential solar PV-battery is discussed. • Centralized coordination offers greater savings to prosumers, especially, under time of use tariffs. • Value of home batteries is dependent on the need for flexibility in the energy system in long term. • Consumers without battery benefit from the impact of "storage coordination" on power prices, more than battery owners themselves. • Private benefits of storage aggregation drops by 20% if aggregated storage devices increase five-fold. [ABSTRACT FROM AUTHOR]

Abstract: It is highly significant for China to improve its development of wind power. In order to promote the sustainable development, a more comprehensive evaluation of factors affecting the effectiveness of investment in the industry wind power is required to be conducted to formulate a relatively stable policy supporting mechanism for the development of wind power. Based on the green accounting framework, this paper evaluates a typical wind power project from economic, environment and energy alternative respects comprehensively. We simulate the main factors influencing cost and benefit of the wind power investment with the Monte Carlo method. Finally, we discuss how to promote wind power with respect to the concern of government, investors and environmentalists. [Copyright &y& Elsevier]

Abstract: Wind energy development is booming worldwide with Germany and the United States being forerunners in installed capacity. Based on a review of relevant laws and regulations, policy, siting, and permitting documents, academic literature, and expert interviews, the paper compares the permit and environmental impact assessment (IA) policies and regulations pertaining to wind energy projects in both countries. The focus is on the potential of IAs in supporting an environmentally conscious development of wind power generation. This includes the analysis of IA regulations on the project level, strategic level impact assessment and planning processes, opportunities for public involvement and transparency of processes, and the clarity and predictability of the IA provisions. The findings suggest certain variations between both countries'' permit and IA processes for wind energy projects and further research needs, inter alia on the actual effects of strategic assessment of wind development on subsequent permitting. [Copyright &y& Elsevier]

Abstract: With regard to energy conservation and the reduction of emissions, China is dedicated to facilitating the development of renewable energy in order to fulfil its international responsibility. In recent years, the installed wind power capacity in China has increased rapidly due to its large scale and centralization. The high penetration of wind power has brought about a series of problems such as the wind energy utilization and curtailment, auxiliary services and the pricing mechanism. The resolution of these problems needs policies which will provide more support than the current technologies and standards for wind power. This paper takes the evaluation of capability of accepting large-scale wind power in China as its object of study. According to the analysis of such risk factors as the influence of the grid on wind power integration, wind power itself, the market and policy, an evaluation model of the ability of accepting large-scale wind power is established based on risk theory. Then, the estimation of the ability to accept wind power in Gansu Province is used to testify to the effectiveness of this model. Finally, a series of reasonable policies for wind power are proposed. [Copyright &y& Elsevier]

Abstract: Turkey is a rich country from the point of variety and potential of renewable energy resources. Hydros, winds, biomass, solar and geothermal are important renewable and environmentally friendly sources for energy in Turkey. Turkey produces large amount of hydropower with a total gross hydropower potential of 433TWh/yr, which is equal to 13.8% of the total hydropower potential of Europe. Technically useable potential is 216TWh/yr and economic potential is 140TWh/yr. The main aim of the present study is to investigate hydropower potential of Turkey and small hydropower plants in Eastern Black Sea Region for sustainable energy development in Turkey. The geography of Turkey especially, Eastern Black Sea Region supports and suitable the development of the small hydro plants to increase the energy generation and utilization of available water sources in Turkey. Besides, the paper deals with hydropower policies to meet ever increasing energy demand for sustainable development of Turkey. [Copyright &y& Elsevier]

Abstract: Promotion of renewable energy sources is a widely adopted policy since they are accepted to positively contribute to ensure the security of energy supply, mitigate CO2 emissions and meet the increasing energy demand. In parallel with that global thought, wind energy has been a hot topic in Turkish energy agenda although the share of wind energy in total energy resources of the country is still low. In this framework, the policies and applications regarding wind energy in Turkey are examined, the short-term and long-term priorities are evaluated and some suggestions are provided in this paper. [Copyright &y& Elsevier]

Abstract: Energy is an essential ingredient of socio-economic development and economic growth. Many countries frequently held meetings and discussions has energy agenda. These countries are working to balance energy demand and supply. Renewable energy technology is one of the solutions, which produces energy by transforming natural phenomena into useful energy forms. Wind energy is a reliable and promising renewable energy. Wind energy becomes more and more attractive as one of the clean renewable energy resources. The installed capacity of electricity generation from wind energy is rapidly increasing in many countries and these countries are implementing variety incentive policies. Therefore, the importance of wind energy is expected to increase much more in the coming decades. The presented study comprehensively reviews wind energy in terms of three aspects, namely status, potential and policies analyses and assessments, for the first time to the best of the author''s knowledge. This review paper covers the status, potential and policies of the wind energy, the issues faced, and the latest research. Also, the current situation, potential and development of the increasing are discussed. This study is presented recommendations for increasing the installed capacity of wind power. [Copyright &y& Elsevier]

Abstract: Municipalities around the world are using community energy plans (CEPs) to drive progress towards a more sustainable energy future. Many recognize the supply of local and renewable energy as a crucial component of a resilient future including the potential use of wind power generation. The city of Guelph (Ontario, Canada) included wind energy as a component of its CEP. The goal of this work was to estimate the potential for wind power generation within the municipal boundaries of this city. This paper summarizes the methodology used and results obtained with site and meteorological data, wind maps, and turbine power curves. The methodology relies on the use of a geographically uniform array of turbines, spread throughout the community. An array of utility-scale turbines could potentially generate 29% of Guelph’s 2005 total electricity demand, whereas one consisting of small-scale turbines could achieve 10% of that demand. [ABSTRACT FROM AUTHOR]

Abstract: A widely accepted premise regarding wind power development policy is that implementation of economic policy instruments, which are designed to close the cost gap between wind power and entrenched fossil fuel power generation technologies, will significantly catalyze enhanced levels of wind power development activity. This paper contests this premise by arguing that non-economic barriers to wind power development have the capacity to significantly inhibit wind power development in industrialized nations despite the implementation of economic policy instruments. Forces which deter wind power development in four economically advanced economies that exhibit phlegmatic progress in wind power development – Australia, Canada, Japan and Taiwan – are identified and amalgamated into a STEP framework describing social, technical, economic and political forces that inhibit wind power development. The conclusions of this analysis are twofold. First, failure to mitigate these STEP forces may undermine the efficacy of any given economic policy instrument that aims to close the cost gap between wind power and entrenched generation technologies. Second, attempts to mitigate these impediments might represent a way to achieve better policy results with less government financial commitment. [Copyright &y& Elsevier]

Abstract: Oman relies on gas and oil resources fuels for almost all of its energy needs. Almost 99% of its power generation is based on natural gas. However, the country''s natural gas supplies are currently largely committed, and it may become a net importer soon. Therefore, there is a need to look for alternative energy resources. This paper presents a review of the assessed potential of renewable resources and practical limitations to their considerable use in the perspective of present scenarios and future projections of the national energy for Oman. Solar and wind are likely to play an important role in the future energy in Oman provided that clear policies are established by the higher authority for using renewable energy resources. Rural Areas Electric Company has initiated solar and wind pilot projects in its concession area to confirm the performance and efficiency of renewable technologies in local conditions. [Copyright &y& Elsevier]

Abstract: Wind power in China registered a record level of expansion recently, and has doubled its total capacity every year since 2004. Many experts believe that China will be central to the future of the global wind energy market. Consequently, the growth pattern of wind power in China may be crucial to the further development of the global wind market. This paper firstly presented an overview of wind energy potential in China and reviewed the national wind power development course in detail. Based on the installed wind capacity in China over the past 18 years and the technical potential of wind energy resources, the growth pattern was modeled in this study for the purpose of prospect analysis, in order to obtain projections concerning the development potential. The future perspectives of wind energy development in China are predicted and analyzed. This study provides a comprehensive overview of the current status of wind power in China and some insights into the prospects of China''s wind power market, which is emerging as a new superpower in the global wind industry. [Copyright &y& Elsevier]

Abstract: A consensus has long existed within the electric utility sector of the United States that renewable electricity generators such as wind and solar are unreliable and intermittent to a degree that they will never be able to contribute significantly to electric utility supply or provide baseload power. This paper asks three interconnected questions: [1.] What do energy experts really think about renewables in the United States? [2.] To what degree are conventional baseload units reliable? [3.] Is intermittency a justifiable reason to reject renewable electricity resources? To provide at least a few answers, the author conducted 62 formal, semi-structured interviews at 45 different institutions including electric utilities, regulatory agencies, interest groups, energy systems manufacturers, nonprofit organizations, energy consulting firms, universities, national laboratories, and state institutions in the United States. In addition, an extensive literature review of government reports, technical briefs, and journal articles was conducted to understand how other countries have dealt with (or failed to deal with) the intermittent nature of renewable resources around the world. It was concluded that the intermittency of renewables can be predicted, managed, and mitigated, and that the current technical barriers are mainly due to the social, political, and practical inertia of the traditional electricity generation system. [Copyright &y& Elsevier]

Abstract: A hydrogen economy could offer energy stability, economical, and environmental benefits. In this paper, a hydrogen system based on wind-generated electricity is presented as a viable component in a hydrogen transition strategy. The strengths of a wind-hydrogen system are exhibited in its modular design, exploitation of existing technology, and utilization of a renewable resource. Specifically, a state level assessment of wind power was conducted in order to determine the ability of individual states to meet light-duty vehicle hydrogen fueling demands while utilizing the proposed system. Additionally, analysis related to existing hydrogen resources is presented in order to form a transition scenario. [Copyright &y& Elsevier]

Abstract: Academics, practitioners, and policy makers continue to debate the benefits and costs of alternative sources of energy. Environmental and economic concerns have yet to be fully reconciled. One view is that decisions that incorporate both society''s concern with the environment and investors’ desire for shareholder value maximization are more likely to be truly sustainable. We coin the term dual sustainability to mean the achievement of environmental and financial sustainability simultaneously. Many experts believe that wind energy can help to meet society''s needs without harming future generations. It is clean and renewable. Because the fuel is free it provides the ultimate in energy independence. Wind energy has emerged as a leading prospect, in part, because it is considered by many to be environmentally sustainable. However, a key question that remains is whether wind energy is financially sustainable without the extensive government support that has helped to create and nurture this growth industry. Using reliable, proprietary data from field research, our analysis employs a capital budgeting framework to evaluate the financial economics of investments in wind energy. We find that because of the convergence of improved technology, greater efficiency, and with the increasing cost of traditional, competing sources such as oil and natural gas, wind energy is close to becoming self-sustaining financially without the extensive federal government support that exists today. Wind energy can provide the best of both worlds. It is sustainable from an environmental perspective and it is becoming sustainable financially. In short, those companies investing in wind energy will be able to do well by doing good. Perhaps the achievement of dual sustainability is true sustainability. Our research findings and dual sustainability have several interesting and important implications for public policy towards wind energy. All imply that public policy can now be executed in a more effective and efficient manner. In the paper we outline and offer these better and cheaper public policy alternatives for consideration. [Copyright &y& Elsevier]