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Sensitivity of energy system investments to policy regulation changes: Application of the blue sky catastrophe
Discussion paper / Internet publication
 
ID 4266060
Digital Object Identifier DOI 10.2139/ssrn.2968230
Author(s) Bondarev, Anton; Weigt, Hannes
Author(s) at UniBasel Weigt, Hannes
Bondarev, Anton
Year 2017
Month and day 05-11
Title Sensitivity of energy system investments to policy regulation changes: Application of the blue sky catastrophe
Series title WWZ Working Papers
Volume 2017
Number 08
Pages 23
Publisher / Institution WWZ, University of Basel
Keywords energy infrastructure, investments cycle, economic policy, slow-fast systems, blue sky catastrophe
Abstract In this paper we argue, that the interaction of technology and economic policy regulations in the energy sector may be described by the so-called slow-fast class of dynamical systems. It is known that such systems may exhibit the blue sky catastrophe, a special type of bifurcation. Application of this result allows us to argue that caution is needed when updating economic policies in the energy sector to avoid the onset of catastrophic developments in the system's transformation, when energy system dynamics becomes unresponsive to policy updates.
edoc-URL https://edoc.unibas.ch/61309/
Full Text on edoc Available
 
   

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