Increasing Renewable Energy Auctions for the Accessibility of Low-Cost Clean Energy and Its Local Socio-Economic Impacts

Abstract

The authors examine the impact of auctions on energy costs and their potential benefits to the local and national economy. The short study also examines the auction effect on the levelized cost of electricity (LCOE). Both qualitative and quantitative analyse-based research results suggest that a systematic auctioning scheme, coupled with socio-economic development instruments and a qualification requirement, can help emerging states with renewable energy resources to achieve various benefits in the society as well as the economy