l data and a forecast scenario
for 2010–2020, Markaki et al. [16] suggested that the capital
investment on renewable energy technology has positive impacts
on GDP, however operational and opportunity costs/benefits were
not explored. Antonelli and Desideri [17] investigated the relationship
between FITs and PV cost in Italy, finding that the costs of PV
plants are not driven by the amount of installed power but by the
tariffs, implying a market distortion which may mean higher
opportunity costs. In Wand and Leuthold [18], the potential effects
of Germany’s FIT policies on roof-top PV between 2009–2030 were
explored using a partial equilibrium model in which broad net
social costs/benefits were found from 2014 to +7586 M€. By
including a merit-order effect, Gallego-Castillo and Victoria [19]
found that there are FIT policy settings which give no opportunity
cost (for wind power and PV only). Finally, in terms of employment
impacts, Lehr et al. [20] studied the impact of the German renewable
energy policy on employment using an econometric input–
output (IO) model and found that, in the most plausible scenario,
the effect is positive. Markaki et al.