OEO Ontology

Overview / Open Energy Ontology / Class - economic instrument
Label: economic instrument

Definition:
An economic instrument is a policy instrument that creates monetary (price) incentives to stimulate transformative measures.

Sub classes:
Definition:
A feed-in tariff is an economic instrument designed to stimulate investment in renewable energy technologies by offering long-term contracts to agents who are producers of renewable energy.

Definition:
A levy is an economic instrument that consists of a compulsory financial charge imposed on an agent or institution by a governmental organisation.

Definition:
A market premium is an economic instrument that ensures a guaranteed remuneration, e.g. a fixed feed-in tariff, by paying to the producing agent the difference between a guaranteed return on a good/product and the monetary price for which the good/product is traded on the market.

Back to the super classes:
Definition:
A policy instrument is an action specification of an organisation (e.g. a government) that promotes transformative measures.