Abstract
Purpose The purpose of this paper is to highlight the opportunity for the energy policy in Brazil to tackle the very high cost-effectiveness potencial of solar energy to the power system. Three mechanisms to achieve ambitious reductions in the greenhouse gas emissions from the power sector by 2030 and 2040 are assessed wherein treated as solar targets under ambitious reductions in the greenhouse gas emissions from the power sector. Then, three mechanisms to achieve these selected solar targets are suggested. Design/methodology/approach This paper reviews current and future incentive mechanisms to promote solar energy. An integrated energy system optimization model shows the most cost-efficient deployment level. Incentive mechanisms can promote renewable sources, aiming to tackle climate change and ensuring energy security, while taking advantage of endogenous energy resources potential. Based on a literature review, as well as on the specific characteristics of the Brazilian power system, under restrictions for the expansion of hydroelectricity and ambitious limitation in the emissions of greenhouse gases from the power sector. Findings The potential unexploited of solar energy is huge but it needs the appropriate incentive mechanism to be deployed. These mechanisms would be more effective if they have a specific technological and temporal focus. The solar energy deployment in large scale is important to the mitigation of climate change. Originality/value The value of the research is twofold: estimations of the cost-effective potential of solar technologies, generated from an integrated optimization energy model, fully calibrated for the Brazilian power system, while tacking the increasing electricity demand, the expected reduction of greenhouse gas emissions and the need to increase the access to clean and affordable energy, up to 2040; proposals of three mechanisms to deploy centralized PV, distributed PV and solar thermal power, taking the best experiences in several countries and the recent Brazilian cases.
Highlights
The transition to a carbon-neutral economy has been considered a worldwide commitment, propelled by the Paris Agreement
Brazilian emissions targets or nationally determined contributions (NDC), committed to a 43% reduction of greenhouse gas emissions by 2030 against a 2005 baseline (FEDERATIVE REPUBLIC OF BRAZIL, 2015)
The goal of this paper is to discuss the effectiveness of current policy instruments used in Brazil to promote renewable energy sources and solar, in particular, with a view to proposing future instruments to boost the high potential of solar power in the country
Summary
The transition to a carbon-neutral economy has been considered a worldwide commitment, propelled by the Paris Agreement. Energy systems are key to decarbonizing economies and various public policy decarbonization strategies acknowledge the growing demand for the intermittent availability of endogenous energy sources, and respective technological infrastructures. A key umbrella policy worldwide aims at an increase in renewable sources for electricity generation. Even though the costs of renewable electricity have reduced significantly, considerable investment is required to make renewables play a relevant role in energy transition, due to the fact that both centralized wind and solar power are capital-intensive projects (IRENA, 2016). Direct investment from the public sector represented just 3.8% of total investments in renewable power generation in 2017, as estimated by IRENA (REN21, 2018). The development of an appropriate regulatory environment is essential to shift private sector investment from non-renewable to renewable power sources, accounting for growing electricity demands (REN21, 2017)
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