Economics of Transiting to Renewable Energy in Morocco : A General Equilibrium Analysis
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World Bank, Washington, DC
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Morocco has set an ambitious target of
supplying 42 percent of electricity through renewable
sources, 14 percent each through hydro, wind, and solar, by
2020. To analyze the economic and environmental implications
of implementing this target, this study uses a dynamic
computable general equilibrium model with foresight that
includes explicit representation of various electricity
generation technologies. Two types of policy instruments, a
production subsidy financed through fossil fuel taxation and
a renewable energy mandate financed through increased
electricity prices, have been considered to attract
investment in renewable energy. The study shows that meeting
the renewable target would achieve up to 15 percent
reduction of national greenhouse gas emissions in 2020
compared with a situation in the absence of the target, or
the baseline. However, meeting the target would decrease
household consumption of goods and services, thereby
worsening household welfare. The study also shows that the
renewable production subsidy financed through fossil fuel
taxation is superior to the mandate policy to meet the
renewable energy target in Morocco, as the former would
cause a lower loss in economic welfare and a larger
reduction of greenhouse gas emissions than the latter.
Palabras clave
AIR, AIR POLLUTANTS, APPROACH, BALANCE, BUTANE, CAPACITY INVESTMENTS, CARBON, CARBON TAX, CHEMICAL INDUSTRY, CHEMICALS, CLIMATE, CLIMATE CHANGE, CLIMATE CHANGE MITIGATION, CLIMATE CHANGE MITIGATION POLICIES, CLIMATE POLICY, CO2, COAL, COAL MINING, COMBUSTION, COMBUSTION EMISSIONS, COMPETITIVE ELECTRICITY, COMPUTABLE GENERAL EQUILIBRIUM MODEL, CONSTRUCTION COST, CONVENTIONAL POWER PLANTS, COOKING, COST OF ELECTRICITY, CRUDE OIL, DIESEL, ECOLOGICAL ECONOMICS, ELECTRIC GRID, ELECTRIC POWER, ELECTRICITY, ELECTRICITY CONSUMPTION, ELECTRICITY COSTS, ELECTRICITY DEMAND, ELECTRICITY GENERATION, ELECTRICITY GENERATION TECHNOLOGIES, ELECTRICITY PRICE, ELECTRICITY PRICES, ELECTRICITY PRODUCTION, ELECTRICITY SECTOR, ELECTRICITY SUPPLY, ELECTRICITY UTILITIES, EMISSION, EMISSION REDUCTION, EMISSIONS DATA, EMISSIONS PREDICTION, ENERGY CONSUMPTION, ENERGY DEMAND, ENERGY ECONOMICS, ENERGY MIX, ENERGY POLICY ANALYSIS, ENERGY RESOURCES, ENERGY SCENARIOS, ENERGY SOURCES, ENERGY SUPPLY, ENVIRONMENTAL IMPLICATIONS, ENVIRONMENTAL MANAGEMENT, FOREST, FOREST PRODUCTS, FOREST SECTOR, FORESTRY, FOSSIL, FOSSIL ENERGY, FOSSIL FUEL, FOSSIL FUEL COUNTERPARTS, FOSSIL FUEL TECHNOLOGIES, FOSSIL FUELS, FUEL COMBUSTION, FUEL COSTS, FUEL FOR POWER GENERATION, GASOLINE, GENERATING CAPACITY, GHG, GREENHOUSE, GREENHOUSE GAS, GREENHOUSE GAS EMISSIONS, GROSS OUTPUT, HOUSEHOLD DEMAND, HYDRO POWER, HYDRO POWER PLANTS, HYDROPOWER, IMPORTS OF PETROLEUM, INCOME, INTERNATIONAL ENERGY AGENCY, MARGINAL COST OF ELECTRICITY, METALS, NATIONAL GRID, NATURAL GAS, NEGATIVE IMPACTS, OIL, OIL REFINERY, PETROLEUM, PETROLEUM PRICES, PETROLEUM PRODUCTS, PETROLEUM REFINING, POWER, POWER GENERATION, POWER GENERATION CAPACITY, POWER GENERATION TECHNOLOGIES, POWER PLANT, POWER PRODUCERS, POWER SECTOR, POWER SOURCES, POWER STATION, POWER SUPPLY, PRICE OF ELECTRICITY, PRODUCTION COSTS, PROPANE, RENEWABLE ELECTRICITY, RENEWABLE ENERGY, RENEWABLE ENERGY DEVELOPMENT, RENEWABLE ENERGY GENERATION, RENEWABLE ENERGY POLICY, RENEWABLE ENERGY POTENTIAL, RENEWABLE ENERGY RESOURCES, RENEWABLE ENERGY SOURCES, RENEWABLE ENERGY TECHNOLOGIES, RENEWABLE POWER, RENEWABLE PRODUCTION, RENEWABLE SOURCE, RENEWABLE SOURCES, RENEWABLE TECHNOLOGIES, RETAIL ELECTRICITY, SOLAR ENERGY, SOLAR POWER, SUGARCANE, SUPPLY COSTS, SUSTAINABLE ENERGY, TAX RATE, TOTAL ELECTRICITY GENERATION, TOTAL ELECTRICITY PRODUCTION, TRANSMISSION CAPACITY, WELFARE FUNCTION, WELFARE LOSS, WELFARE LOSSES, WIND, WIND POWER, WIND RESOURCES