Solar Power: A new mathematical definition and theoretical proof it is a Green Public Good

Kalomoira Zisopoulou; Dionysia Panagoulia; Kalomoira Zisopoulou; Dionysia Panagoulia

doi:10.3934/GF.2019.3.312

Green Finance

2019, Volume 1, Issue 3: 312-327. doi: 10.3934/GF.2019.3.312

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Research article Special Issues

Solar Power: A new mathematical definition and theoretical proof it is a Green Public Good

Kalomoira Zisopoulou ¹,
Dionysia Panagoulia ^{2
,
,}

1.
Travaux Publics, Becket House, London, United Kingdom
2.
School of Civil Engineering, Department of Water Resources and Environmental Engineering, National Technical University of Athens, Zografou, Greece

Received: 08 September 2019 Accepted: 27 September 2019 Published: 30 September 2019
JEL Codes: C6, D2, D4, D6, H2, H4, L5, P1, Q2, Q4, Q5

Solar Power is redefined in a new mathematical framework which describes its pertinent properties. It is shown that it is an economic good and that there are Property Rights and Economic Ownership associated with it. Its externalities have been examined with a view of including economic obligations created during the post emission control periods which correspond to growth without climate sustainability obligations. Also its valuation has been examined in states of both non-use and use in electricity production. A new definition of a Green Public Good is described which retains Samuelson's classic definition and has an climate externality component which under Pigouvian tax/subsidy does not satisfy Samuelson's second condition for Pareto optimality.
- bilateral taxation,
- economic good,
- environmental economics,
- externalities,
- Pareto optimality,
- pollution,
- property rights,
- public good,
- Solar Power,
- Valuation
Citation: Kalomoira Zisopoulou, Dionysia Panagoulia. Solar Power: A new mathematical definition and theoretical proof it is a Green Public Good[J]. Green Finance, 2019, 1(3): 312-327. doi: 10.3934/GF.2019.3.312

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Abstract

Solar Power is redefined in a new mathematical framework which describes its pertinent properties. It is shown that it is an economic good and that there are Property Rights and Economic Ownership associated with it. Its externalities have been examined with a view of including economic obligations created during the post emission control periods which correspond to growth without climate sustainability obligations. Also its valuation has been examined in states of both non-use and use in electricity production. A new definition of a Green Public Good is described which retains Samuelson's classic definition and has an climate externality component which under Pigouvian tax/subsidy does not satisfy Samuelson's second condition for Pareto optimality.

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