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  Understanding and accounting for the effect of exchange rate fluctuations on global learning rates

Lilliestam, J., Melliger, M. A., Ollier, L. L., Schmidt, T. S., Steffen, B. (2020): Understanding and accounting for the effect of exchange rate fluctuations on global learning rates. - Nature energy, 5, 71-78.
https://doi.org/10.1038/s41560-019-0531-y

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Item Permalink: https://publications.iass-potsdam.de/pubman/item/item_6000159 Version Permalink: https://publications.iass-potsdam.de/pubman/item/item_6000159_3
Genre: Journal Article

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 Creators:
Lilliestam, Johan1, Author              
Melliger, Marc André1, Author              
Ollier, Lana Laura1, Author              
Schmidt, Tobias S.2, Author
Steffen, Bjarne2, Author
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1IASS Institute for Advanced Sustainability Studies Potsdam, ou_96022              
2External Organizations, ou_persistent22              

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 Abstract: Learning rates are a central concept in energy system models and integrated assessment models, as they allow researchers to project the future costs of new technologies and to optimize energy system costs. Here we argue that exchange rate fluctuations are an important, but thus far overlooked, determinant of the learning-rate variance observed in the literature. We explore how empirically observed global learning rates depend on where technologies are installed and which currency is used to calculate the learning rate. Using global data of large-scale photovoltaic (≥5 MW) plants, we show that the currency choice can result in learning-rate differences of up to 16 percentage points. We then introduce an adjustment factor to correct for the effect of exchange rate and market focus fluctuations and discuss the implications of our findings for innovation scholars, energy modellers and decision makers.

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Language(s): eng - English
 Dates: 2020-012020
 Publication Status: Finally published
 Pages: -
 Publishing info: -
 Table of Contents: -
 Rev. Type: -
 Identifiers: DOI: 10.1038/s41560-019-0531-y
IASSPROJECT: TRIPOD
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Title: Nature energy
Source Genre: Journal, E14, SCI, Scopus
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Publ. Info: London : Nature Publ. Group
Pages: - Volume / Issue: 5 Sequence Number: - Start / End Page: 71 - 78 Identifier: ISSN: 2058-7546
CoNE: https://publications.iass-potsdam.de/cone/journals/resource/20190612b