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A Technology Choice for Model Electricity Generation

Ralph L. Keeney

Year: 1983
Volume: Volume 4
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol4-NoSI-2
No Abstract



The Impact of Energy Prices on Technology Choice in the United States Steel Industry

Gale A. Boyd and Stephen H. Karlson

Year: 1993
Volume: Volume 14
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol14-No2-3
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Abstract:
In the last 30 years, U.S. steel producers have replaced their aging open hearth steel furnaces with basic oxygen (BOF) or large electric are furnaces (LEF). This choice of technology creates the opportunity to substitute electricity for fossil fuels. We extend earlier research to investigate whether energy prices affect this type of technology adoption. The econometric model uses the "seemingly unrelated Tobit" method to capture the effects of the industry's experience with both technologies, technical change, and potential cost reductions, as well as energy prices, on adoption. Men we include the prices of electricity and coking coal as explanatory variables, the four energy price coefficients have the signs predicted by the law of demand, but the magnitude of the coefficients is such that the non-price terms are more important, e.g. a 50% increase in electricity prices would delay LEF adoption by only 12 days. Our results suggest that the adoption of LEF represents a form of major process technical change (factor biased - electricity using), rather than a price-induced technological innovation.



Technology Choices in the U.S. Electricity Industry before and after Market Restructuring

Zsuzsanna Csereklyei and David I. Stern

Year: 2018
Volume: Volume 39
Number: Number 5
DOI: 10.5547/01956574.39.5.zcse
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Abstract:
We study the drivers of the adoption of electricity generation technologies between 1970 and 2014 in the lower 48 U.S. states. Since the 1990s, major electricity market restructuring took place in some parts of the United States. We explore the implications of changing from a regulated "cost-of-service", or rate of return, system to liberalized wholesale electricity markets on technology and fuel choices. We find that wholesale market restructuring resulted in significant immediate investment in various natural gas technologies due to higher expected profits, and a reduction in coal investments. In states that adopted liberalized wholesale electricity markets, higher natural gas price expectations resulted in more investment in coal and renewable technologies, while higher coal price expectations resulted in lower coal-fired baseload power investments. Natural gas price expectations, therefore, have the potential to significantly shape the power generation landscape of the future.Keywords: Technology choices, Electricity industry, Market restructuring





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