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The decision to scrap a wind turbine : opportunity cost, timing and policy

Mauritzen, Johannes
Working paper
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URI
http://hdl.handle.net/11250/164181
Date
2011-09
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  • Discussion papers (FOR) [556]
Abstract
This paper attempts to empirically identify the key factors involved in the decision to

scrap a wind turbine using data from Denmark. The importance of the opportunity cost

of operating an older wind turbine is shown to be a prominent factor in the decision to

scrap. I show the strong effect that renewable energy policy plays in the decision to scrap

a turbine. Through the use of both non-parametric and semi-parametric duration models

and an instrumental variables approach I identify a strong effect for scrapping schemes

put in place by the Danish government. I also obtain the, initially, counter-intuitive

result that more effective wind turbines have a higher hazard of being scrapped.
Publisher
Norwegian School of Economics. Department of Finance and Management Science
Series
Discussion paper;2011:17

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