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Economics of Transiting to Renewable Energy in Morocco : A General Equilibrium Analysis

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
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World Bank, Washington, DC
Middle East and North Africa | Morocco
2014-06-30T16:53:59Z | 2014-06-30T16:53:59Z | 2014-06

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.

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