【作者】 尹辉；

【导师】 陈卫东；

【作者基本信息】 天津大学 ， 公共管理， 2017， 硕士

【摘要】 过高的可再生能源发电补贴价格为政府带来了沉重的财政支出负担,政府如何在降低补贴价格的同时又能有效的激励投资者投资该产业显得尤为重要。本文结合配额制与碳交易机制,分析了政府最优补贴价格制定问题。具体包括以下内容:文章在总结政府与投资者之间的利益关系基础上,以投资商对投资可再生能源产业的意愿程度为不对称信息,建立了以政府为委托人,投资商为代理人的委托代理模型,分别探究了对称信息和不对称信息下的最优补贴价格,在此模型基础上,引入了配额制与碳交易的理论,对模型进行了修正,分别分析了两个模型中各因素对补贴的影响。研究发现,信息不对称是造成补贴失灵的主要因素;配额制与碳交易市场的建立将产业外部效益内部化,合理增加了投资商的收入,有助于降低补贴价格;在补贴和碳配额两种激励政策中,技术创新都是促进可再生能源发电产业发展的关键因素。根据研究结果得到以下建议:政府在不完全信息下,可以选择概率补贴方式而非直接对补贴定价,同时应加强监管力度避免“信息扭曲”;在产业发展的中后期,政府的补贴政策应逐渐退出市场,取而代之的是以配额制为理论基础的碳交易市场的建立;在配额制政策的指导下,政府应建立相应的奖惩力度,企业因未达减排目标的罚款可能会挫伤投资积极性;政府在实施政策的过程中应为投资商提供稳定的投资环境,防止政策变动频繁而降低投资商的投资信心。更多还原

【Abstract】 The high subsidies price of renewable energy generation has brought heavy burden on the government financial expenditure,how to reduce the subsidy price and effectively encourage investors to invest in the industry is particularly important.Based on the Renewable Portfolio Standard(RPS)and carbon trading mechanism,this paper analyzes the problem of the optimal government subsidy price.Specifically includes the following:Based on the detailed analysis of benefit relationship between government and investors,this paper takes investor’s preference toward renewable energy generation as the asymmetric information and a principal-agent model is established which takes the government as the principal and the investors as the agent.We have studied the optimal subsidy level under symmetric information and asymmetric information.Then we have modified the model after the concept of RPS and carbon trade.At last we have also analyze the influencing factors in each model.The study shows the asymmetric information is the main reason to make subsidy failure.The implementation of RPS and the carbon trade market internalize the external benefits which acts as a reasonable way to increase investor’s benefit and reduce subsidies.Technological innovation is the key factor in promoting renewable energy generation industry in both feed-in-tariffs and RPS incentive policy.According to the results of the study it is recommended that the government should choose probability subsidies instead of accurate subsidy and strengthening the supervision to avoid "information distortion".With the development of renewable energy power industry,carbon trade market based on RPS will become the main incentive policy rather than subsidy.The government should establish rewards and punishments system and maybe the punishment will dampen investment intentions.And the government should provide a stable investment environment to strengthen investor’s confidences.更多还原