Kenya has one of the fastest electrification rates in Sub-Saharan Africa. Despite the increase in electrification rates, rural and underserved regions remain a critical challenge requiring a cost-effective strategy that maximises the use of stand-alone and off-grid solutions. This paper uses the...

Feed-in tariffs (FiTs) have been instrumental in expanding renewable electricity generation but can distort investment by insulating producers from market price volatility. This paper develops a twostage model of electricity markets with stochastic demand and supply shocks, showing that a higher...

In deregulated electricity markets, Generation Companies (GENCOs) are exposed to substantial financial risk due to volatile and uncertain electricity prices. Traditional generation asset valuation approaches, which rely primarily on expected profit, fail to adequately capture downside risk under...

The transition from traditional labor intensive to modern capital intensive production is a key factor for industrial development. Using half a million observations from Indian manufacturing plants, I analyze the effects of a secular decrease in industrial electricity prices through the lens of...