"This paper develops an empirical approach to estimate the equilibrium value of renewable electricity technologies, and applies it to evaluate solar energy mandates in southeastern Arizona. Solar generation and other renewables suffer from intermittency because weather varies and is only...

A key problem with solar energy is intermittency: solar generators only produce when the sun is shining. This adds to social costs and also requires electricity system operators to reoptimize key decisions with large-scale renewables. We develop a method to quantify the economic value of...