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dc.contributor.authorFernández González, Raquel 
dc.contributor.authorSuarez Garcia, Andrés 
dc.contributor.authorÁlvarez Feijoo, Miguel Ángel 
dc.contributor.authorArce Fariña, María Elena 
dc.contributor.authorDíez Mediavilla, Montserrat
dc.date.accessioned2022-06-13T12:09:59Z
dc.date.available2022-06-13T12:09:59Z
dc.date.issued2020-03-02
dc.identifier.citationSustainability, 12(5): 1892 (2020)spa
dc.identifier.issn20711050
dc.identifier.urihttp://hdl.handle.net/11093/3571
dc.description.abstractSpain is a country with a high dependence on fossil fuels. For this reason, in 2007, it implemented a bonus system that aimed to encourage the production of renewable energies, particularly photovoltaic solar energy. These production bonuses, guaranteed by the Spanish government, led to an exponential increase in the number of companies in the market and, consequently, the MWh produced. However, in 2012, given the excessive budgetary burden involved in maintaining this “feed-in tariff” system and after several years of institutional instability, the aforementioned system of incentives for phoyovoltaic (PV) energy was eliminated. This paper has tried to analyze the consequences of this institutional change, a clear example of the “hold up” problem. For this purpose, a sample of 5354 companies, which was divided, geographically, into Spanish regions and, temporarily, into three different periods, has been taken, considering diverse economic and financial variables. The results show a notable weakening of the sector that, due to the effects of the regulatory change, has lost attractiveness and profitability for investors and is consequently suffering from stagnation, which has led to the disappearance of many companies in the sector.en
dc.description.sponsorshipXunta de Galicia | Ref. ED431C2018/48spa
dc.description.sponsorshipXunta de Galicia | Ref. ED431E2018/07spa
dc.description.sponsorshipMinisterio de Economía y Competitividad | Ref. RTI2018-099225-B-100spa
dc.description.sponsorshipJunta de Castilla y León | Ref. ORDEN EDU/667/2019spa
dc.description.sponsorshipMinisterio de Ciencia, Innovación y Universidades | Ref. RTI2018-098900-B-I00spa
dc.language.isoengspa
dc.publisherSustainabilityspa
dc.relationinfo:eu-repo/grantAgreement/MICINN/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/RTI2018-099225-B-100/ES
dc.relationinfo:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/RTI2018-098900-B-I00/ES
dc.rightsAttribution 4.0 International
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.titleSpanish photovoltaic solar energy: institutional change, financial effects, and the business sectoren
dc.typearticlespa
dc.rights.accessRightsopenAccessspa
dc.identifier.doi10.3390/su12051892
dc.identifier.editorhttps://www.mdpi.com/2071-1050/12/5/1892spa
dc.publisher.departamentoEconomía aplicadaspa
dc.publisher.grupoinvestigacionERENEA (Economía dos Recursos Naturais e Ambientais)spa
dc.subject.unesco5309 Organización Industrial y Políticas Gubernamentalesspa
dc.subject.unesco5312.05 Energíaspa
dc.subject.unesco3322.05 Fuentes no Convencionales de Energíaspa
dc.date.updated2022-06-13T08:27:54Z


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    Except where otherwise noted, this item's license is described as Attribution 4.0 International