The Economic Feasibility of Residential Energy Storage Combined with PV Panels: The Role of Subsidies in Italy

A solar photovoltaic system produces electricity by converting energy from the sun. By the end of 2016, the global installed solar photovoltaic capacity reached 305 GW. Its growth is impressive in the last years; in fact, it was only equal to 41 GW in 2010. However, Europe has installed only 6.9 GW in 2016 (1.7 GW in comparison to previous year) and this annual power installed is equal to 9% of global one in according to data released by Solar Power Europe. The profitability of PV systems in mature markets depends on the harmonization between demanded energy and produced one residential energy storage when combined with photovoltaic panels is able to increase the share of self-consumption. This work proposes a mathematical model, in which a Discounted Cash Flow analysis is conducted to evaluate the financial feasibility of photovoltaic-integrated lead acid battery systems in Italy. The indicator used is Net Present Value. Furthermore, a break-even point analysis, in terms of an increase of self-consumption, is conducted. The residential sector is investigated and energy storage system investment is incentivized by fiscal deduction and regional subsidies. The analysis provides several case studies, determined by combinations of the following variables: photovoltaic plant size, battery capacity, the increase of the share of self-consumption, and the useful lifetime of energy storage system. The same case studies are proposed also in four alternative scenarios, where is the modified the structure of subsidies. Results confirm that the profitability can be reached in presence of subsidies

Using a VAT for Deficit Reduction

Examines implications of imposing a value-added tax, compared with increasing individual income tax rates (including capital gains tax), such as the distribution of the tax burden on households, distortions on economic decisions, and government costs

Weak magnetism phenomena in heavy-fermion superconductors: selected μ\muSR studies

The behavior of the so-called weak moment antiferromagnetic states, observed in the heavy-fermion superconductors UPt$_3$ and URu$_2$Si$_2$, is discussed in view of recent $\mu$SR results obtained as function of control parameters like chemical substitution and external pressure. In UPt$_3$, the Pd substitution for Pt reveals the dynamical character of the weak moment order. On the other hand, $\mu$SR measurements performed on samples in which Th substitutes U suggest that crystallographic disorder on the magnetic sites deeply affects the fluctuation timescale. In URu$_2$Si$_2$, a phase separation between the so-called hidden order state, present at ambient pressure, and an antiferromagnetic state, occurring under pressure, is observed. In view of the pressure-temperature phase diagram obtained by $\mu$SR, it is deduced that the respective order parameters have different symmetries.Comment: To appear in: J. Phys.: Cond. Matte

Metropolitan Area Home Prices and the Mortgage Interest Deduction: Estimates and Simulations from Policy Change

We simulate changes to metropolitan area home prices from reforming the Mortgage Interest Deduction (MID). Price simulations are based on an extended user cost model that incorporates two dimensions of behavioral change in home buyers: sensitivity of borrowing and the propensity to use tax deductions. We simulate prices with both inelastic and elastic supply. Our results show a wide range of price effects across metropolitan areas and prospective policies. Considering behavioral change and no supply elasticity, eliminating the MID results in average home price declines as steep as 13.5% in Washington, D.C., and as small as 3.5% in Miami-Fort Lauderdale, FL. Converting the MID to a 15% refundable credit reduces prices by as much as 1.4% in San Jose, CA, San Francisco, CA, and Washington, D.C. and increases average price in other metropolitan areas by as much as 12.1% (Miami-Fort Lauderdale). Accounting for market elasticities produces price estimates that are on average 36% as large as standard estimates

Diversification and the Taxation of Capital Gains and Losses

Current U.S. law nets the total portfolio of realized capital gains and losses to compute capital gains taxes. Prior research, however, typically ignores the implication of this provision, i.e., the marginal tax rate for a specific gain or loss depends on the taxpayer's total portfolio of realized gains and losses. We find that these nettings introduce complexity into the relation between share values and capital gains taxes, creating an incentive to diversify. For firms with stock returns that are positively (negatively) correlated with those of the overall market, share values generally are decreasing (increasing) in the capital gains tax rate.