Elizabeth Côté
Last Name
Côté
First name
Elizabeth
Phone
+41712242944
5 results
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Item type:Publication, Green on demand? Offtaker preferences for corporate power purchase agreementsCorporate power purchase agreements (CPPAs) have emerged as an additional instrument for accelerating renewable energy deployment. By facilitating the financing of projects, CPPAs offer numerous benefits to power producers and corporate offtakers. However, despite their growing popularity, risk allocation among these counterparties remains challenging. This study investigates risk perceptions and preferences for CPPA design based on insights from 91 corporate offtakers who made 860 hypothetical green-power-procurement decisions in the Swiss context. Our results show a strong interest in CPPAs with lower prices and shorter tenors. The latter is especially important for SMEs, who would be willing to pay considerably more for a five-year contract than a longer one. While large companies would pay hefty premiums for local power production, SMEs impute more importance to the type of technology. However, long-term commitments and the complexity of contractual obligations are major drawbacks. While our findings show that CPPAs have the potential to play an important role in complementing public support for renewables, they also point to the need to implement framework conditions that contribute to lowering risks and complexity for counterparties. Further, they highlight distinctive preferences within this consumer segment, which could inform CPPA negotiations and foster mutually beneficial agreements.Type:journal articleJournal:Energy PolicyVolume:196Issue:114408Scopus© Citations 6 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Preferences of homeowners for heat-pump leasing: Evidence from a choice experiment in France, Germany, and Switzerland Author links open overlay panelWhile heat pumps are a promising solution for decarbonizing residential buildings, financial barriers often hinder their diffusion. Asset leasingwhereby service providers lease equipment and provide services in exchange for monthly paymentscould help overcome some of the barriers to adoption. This study investigates homeowners' preferences for heat-pump leasing, examines their inclination to lease or purchase, and quantifies their willingness to pay for different services. Empirical insights are drawn from a discrete choice experiment conducted with 915 single-family house owners who undertook 9150 hypothetical leasing decisions in France, Germany, and Switzerland. Survey results show an interest in flexible, all-inclusive leasing offerings, especially in markets where heat pumps are at an early stage of diffusion. However, preferences for asset leasing differ between countries. German house owners are the most open to leasing and would on average be willing to pay up to three times more than their French counterparts to shield themselves against technical risk. Given the role asset leasing could play in decarbonizing residential heat and enhancing energy security, policy makers may wish to adapt policy incentives to account for these service-based offerings.Type:journal articleJournal:Energy PolicyVolume:183Issue:113779Scopus© Citations 15 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The price of actor diversity: Measuring project developers’ willingness to accept risks in renewable energy auctions(Elsevier, 2022-02-02); ; Type:journal articleJournal:Energy PolicyVolume:163Scopus© Citations 30 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Risk-adjusted preferences of utility companies and institutional investors for battery storage and green hydrogen investmentType:journal articleJournal:Energy PolicyVolume:163Scopus© Citations 26 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Financial models and incentives for clean energy investmentAchieving net zero by 2050 requires considerable investment to scale up clean energy generation capacity, expand and modernise power networks, and electrify end-users. However, clean energy projects are facing growing opposition. While several policy makers have introduced measures aimed at incentivizing citizen co-ownership to foster acceptance, little is understood about how these measures influence investment decisions. Further, clean energy business models are often found to be unprofitable, and financial factors may hinder the diffusion of key technologies. This has prompted several actors to call for policy support and business model innovation. With this dissertation, I contribute to a better understanding of how the attributes of energy policies and business models influence investors risk perceptions and return expectations. This enables me to identify financial mechanisms, business models, and incentives that may promote investment. Three critical challenges pertaining to clean energy investment are considered, each addressed in a standalone research paper. In Paper 1, we investigate how auction design elements aimed at fostering citizen participation influence project developers risk perceptions and bidding decisions. We show that increasing actor diversity comes at a cost, and that policy makers unwilling to compensate developers will have to find other ways to promote participation, as this could have important implications for renewable energy investment. In Paper 2, we examine the preferences of institutional investors and utility companies for energy storage investment. We find that both investor groups have a strong aversion to non-regulated forms of revenue. We also show that hedging their exposure to electricity price risk at least partly through policy incentives or corporate power purchase agreements could decrease financing costs and promote investment. In Paper 3, I investigate homeowners preferences for heat-pump leasing. I show that flexible, all-inclusive leasing offerings could contribute to decarbonizing residential heat, especially in markets where heat pumps are at an early stage of diffusion like in Germany. Policy makers who wish to promote heat-pump diffusion may consider adapting incentives to account for these service-based offerings.Type:doctoral thesis