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UID:d9b220fa0553612c233f7f212c1fe104
CATEGORIES:Seminars
CREATED:20230605T141939
SUMMARY:John Van Reenen - London School of Economics
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nRay of Hope? China and the rise of Solar Energy\n\n\nAbstract:\nThe rap
 id decline in the global cost of solar panels coincided with China’s growin
 g market dominance in solar photovoltaics (PV) from the early 2000s. We eva
 luate the effectiveness of local, city-level policy efforts to encourage th
 e growth of the solar industry in China. We develop novel measures covering
  all policies since their inception based on text analysis; construct origi
 nal data on patenting, production and trade; and implement a synthetic-diff
 erence-in-differences approach. We show that city-level subsidies for solar
  production cause large increases in the production of solar panels and - w
 ith a lag - also raise innovation and the productivity of solar panel manuf
 acturers relative to firms in matched control cities that did not implement
  such policies. Cities which combined production subsidies with R&D sup
 port showcased even larger positive effects on solar innovation and product
 ion. We also document positive impacts on solar firm numbers, revenues, and
  exports from these production and innovation subsidies. In contrast, deman
 d/installation subsidies targeted at increasing city-level generation of so
 lar electricity have no significant impact on city-level solar innovation a
 nd production as additional demand can be met with solar panels produced in
  other Chinese cities. These results are consistent with the predictions of
  a model in which electricity is supplied locally using components (e.g. so
 lar panels) sourced from heterogeneous manufacturers across China, who endo
 genously choose whether to pay the fixed costs of innovating and/or exporti
 ng.  Taken together, these results suggest that industrial policy can 
 foster innovation and growth in clean energy. The fact that we observe this
  in an industry that is displacing dirty energy generation worldwide magnif
 ies the importance of our findings.\n
DTSTAMP:20260424T181259Z
DTSTART:20231009T143000Z
DTEND:20231009T160000Z
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