Efficiencies of the Firm at the Nexus of Policy, Technology Choice and Business Performance
Open AccessOver the past years, several policy instruments have been introduced to facilitate the transition to clean energy. These policy instruments have been implemented globally at different intervention stages. This dissertation develops policy related decision support frameworks relevant for policymakers, business managers and decision makers in the face of climate change.At the macro-level, Renewable Energy (RE) policies have been implemented to address carbon mitigation and encourage the growth and development of clean energy systems. At the industry-sector level, pressure from various stakeholders have pushed firms across different industry sectors to implement several energy and environment policies to improve their environmental performance and mitigate climate change. At the firm-level, electricity utility firms have responded to policy mandates and taken advantage of various financial incentives to increase their investment in renewable energy technologies in order to decarbonize the electricity generation sector. This dissertation examines energy and environmental policy implications at these three levels and proposes three separate but interdependent research questions, as follows:1. How have Renewable Portfolio Standards (RPS) influenced the growth of emerging renewable energy technologies across regional electricity markets?To address this research question, we developed a time-series framework for the growth of solar-PV and wind energy technologies across electricity market regions in the U.S.; we then performed a correlation study of the strength of RPS targets and the growth of these renewable energy capacity additions within electricity market regions. Next, we developed a ranking system based on the strength of correlations between RPS targets and renewable energy capacity additions. This study provides a decision-support framework for technology managers on the technologies to invest in. This is important for policymakers because the benefits to be derived from these investments and their societal welfare are critical for designing and enforcing such policy instruments.2. How have firm-level energy and environmental policies in the form of technology investment in emission reduction and environmental management practices influenced the business performance of firms across different industry sectors?In answering this research question, we employ an econometric study. First, we conceptualized the extent of implementation of energy and environmental policies by the environmental performance of firms across two dimensions: the outcome dimension and the process dimension. Thereafter, we capture the business performance of the firms with their accounting and stock market indices. The findings from this study presents practical implications for corporate managers and decision makers involved in both the design and implementation of corporate environmental and sustainability programs. The contributions of this research to the existing literature provide theoretical insights that reveal how the business performance of firms is not only related to technology investments in emission reduction but is also distinguished by differences in the carbon intensity of the sectors that the firms operate in.3. How do electricity utility firms compare in terms of their renewable energy adoption performance in the presence of RPS and RE financial incentives?We investigate this question by employing a non-parametric linear programming approach in the form of data envelopment analysis (DEA) to evaluate the RE adoption efficiency of technologically diverse electricity utility firms. We employed a non-parametric statistical analysis method to understand how firm performance varies across electricity market regions. Finally, with the aid of Malmquist-DEA approach, we evaluate the periodic productivity for RE adoption over adjacent time periods. The findings from this study provide a framework for comparing utilities to best possible performance sets and also for developing strategic pathways for performance improvement. In addition, these findings aid policymakers in improving the design of best incentive based instruments that encourage RE adoption.
- All rights reserved
Notice to Authors
If you are the author of this work and you have any questions about the information on this page, please use the Contact form to get in touch with us.
| Thumbnail | Title | Date Uploaded | Visibility | Actions |
|---|---|---|---|---|
|
|
Ogunrinde_gwu_0075A_15890.pdf | 2022-04-25 | Open Access |
|