@article{Darmstadter:10777,
      recid = {10777},
      author = {Darmstadter, Joel},
      title = {The Economic and Policy Setting of Renewable Energy: Where  Do Things Stand?},
      address = {2003},
      number = {1318-2016-103171},
      series = {Discussion Paper 03-64},
      pages = {21},
      year = {2003},
      abstract = {This paper looks at the status and prospects of  renewables-with particular emphasis on windpower-in the  electric power sector. Although renewables account for a  steadily rising share of electricity generation in various  countries, their role remains small in absolute terms. In  part, this is because of technological progress of and  successful competition from fossil-fueled  generation-notably, combined cycle gas turbines. While  diminishing, subsidies continue to be indispensable to the  use of renewables in most places. Viability of  renewables-based electricity is undermined by the cost of  externalities for which fossil energy combustion is only  partially charged. A number of countries (and states in the  U.S.) have launched obligatory requirements for  renewables-based electricity in the years ahead. This  so-called "renewable portfolio standard," while  technology-forcing, offers an opportunity for an  economically efficient way of promoting greater market  penetration of renewables.},
      url = {http://ageconsearch.umn.edu/record/10777},
      doi = {https://doi.org/10.22004/ag.econ.10777},
}