EXPLAINING THE SLOW DIFFUSION OF NEW RENEWABLE ENERGY IN THE ARGENTINE ELECTRICITY MARKET: A WRONG POLICY MIX OR AN UNFAVOURABLE CONTEXT?

摘要

1. In the Argentinean case, the RET's deployment in the last 20 years was clearly affected by the institutional and economic context (high risk investment environment)2. Moreover, we found several problems in the design and implementation of the two first policy instruments (feed-in premium system of 1998 and 2006). The GENREN program was a well-designed economic instrument but it was not accompanied by additional measures to respond to the financial failure3. More generally, the malfunctioning of energy markets and also macroeconomic and institutional barriers may prove decisive for the success or failure of promotion policies. The isolated application of economic incentives may not be enough to promote investment in RETs, especially in emerging countries with a high risk environment. Complementary measures are required.