The Comparison Of The Effects Of The Renewable Portfolio Standard And Feed-in Tariff Under The Global View

In order to ensure the security of energy and deal with the climate change, countries pay more and more attention to the development of renewable energy in the world. During the period of "11th Five-Year Plan", as the "Renewable Energy Law" promulgated, the system of Chinese renewable energy policy has got a continuous development and improvement. Renewable energy of China has entered an important stage of comprehensive, rapid and large-scale development. However, the development of renewable energy cannot do without the support of relevant policy. Therefore, as two mainstream incentive policies of renewable energy around the world-the renewable portfolio standard and the feed-in tariff, and the significance which the policies have on the influence and effect of renewable energy development is the key research point of the article.This paper connects domestic and overseas research with usage condition of two kinds of policies in the world and homologous development history of renewable energy, and finds that:two policies both have positive effects on the development of renewable energy; however, for the renewable energy in the different stages of development, significance of two policies’effect is different.This paper uses analysis model of panel data to analyze the data of 16 countries from 1997 to2012, and preliminarily proves the hypothesis of the article. Namely, the feed-in tariff policy plays a stronger role in the early stage of development of renewable energy while the renewable portfolio standard policy is more suitable to be used in the development of more mature stage of the renewable energy. This is because in the renewable portfolio standard policy, the generated energy of renewable energy is required to account for a certain proportion in the total electricity generation, but the specific type of energy is not required. This kind of policy goes against the high-cost renewable energy at its primeval development stage. On the contrary, the feed-in tariff policy supplies different levels of allowance according to different renewable energies. Also, it can promote the development of all kinds of technologies, and has a better effect in the early stage of the development of renewable energy.