Variable Pricing and the Cost of Renewable Energy

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (16 download)

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Book Synopsis Variable Pricing and the Cost of Renewable Energy by : Imelda

Download or read book Variable Pricing and the Cost of Renewable Energy written by Imelda and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: On a levelized-cost basis, solar and wind power generation are now competitive with fossil fuels. But supply of these renewable resources is variable and intermittent, unlike traditional power plants. As a result, the cost of using flat retail pricing instead of dynamic, marginal-cost pricing--long advocated by economists--will grow. We evaluate the potential gains from dynamic pricing in high-renewable systems using a novel model of power supply and demand in Hawai'i. The model breaks new ground in integrating investment in generation and storage capacity with chronological operation of the system, including an account of reserves, a demand system with different interhour elasticities for different uses, and substitution between power and other goods and services. The model is open source and fully adaptable to other settings. Consistent with earlier studies, we find that dynamic pricing provides little social benefit in fossil-fuel-dominated power systems, only 2.6 to 4.6 percent of baseline annual expenditure. But dynamic pricing leads to a much greater social benefit of 8.5 to 23.4 percent in a 100 percent renewable power system with otherwise similar assumptions. High renewable systems, including 100 percent renewable, are remarkably affordable. The welfare maximizing (unconstrained) generation portfolio under the utility's projected 2045 technology and pessimistic interhour demand flexibility uses 79 percent renewable energy, without even accounting for pollution externalities. If overall demand for electricity is more elastic than our baseline (0.1), renewable energy is even cheaper and variable pricing can improve welfare by as much as 47 percent of baseline expenditure.

Assessment of the Impact of Renewable Electricity Generation on the German Electricity Sector

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Publisher :
ISBN 13 : 9783183188161
Total Pages : 209 pages
Book Rating : 4.1/5 (881 download)

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Book Synopsis Assessment of the Impact of Renewable Electricity Generation on the German Electricity Sector by : Frank Sensfuss

Download or read book Assessment of the Impact of Renewable Electricity Generation on the German Electricity Sector written by Frank Sensfuss and published by . This book was released on 2008 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Impacts of Variable Renewable Energy on Bulk Power System Assets, Pricing, and Costs

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Publisher :
ISBN 13 :
Total Pages : 103 pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis Impacts of Variable Renewable Energy on Bulk Power System Assets, Pricing, and Costs by : Ryan H. Wiser

Download or read book Impacts of Variable Renewable Energy on Bulk Power System Assets, Pricing, and Costs written by Ryan H. Wiser and published by . This book was released on 2017 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: We synthesize available literature, data, and analysis on the degree to which growth in variable renewable energy (VRE) has impacted to date or might in the future impact bulk power system assets, pricing, and costs. We do not analyze impacts on specific power plants, instead focusing on national and regional system level trends. The issues addressed are highly context dependent, affected by the underlying generation mix of the system, the amount of wind and solar penetration, and the design and structure of the bulk power system in each region. Moreover, analyzing the impacts of VRE on the bulk power system is a complex area of research and there is much more to be done to increase understanding of how VRE impacts the dynamics of current and future electricity markets.

Electricity from Renewable Resources

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Publisher : National Academies Press
ISBN 13 : 030913708X
Total Pages : 386 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Electricity from Renewable Resources by : National Research Council

Download or read book Electricity from Renewable Resources written by National Research Council and published by National Academies Press. This book was released on 2010-04-05 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: A component in the America's Energy Future study, Electricity from Renewable Resources examines the technical potential for electric power generation with alternative sources such as wind, solar-photovoltaic, geothermal, solar-thermal, hydroelectric, and other renewable sources. The book focuses on those renewable sources that show the most promise for initial commercial deployment within 10 years and will lead to a substantial impact on the U.S. energy system. A quantitative characterization of technologies, this book lays out expectations of costs, performance, and impacts, as well as barriers and research and development needs. In addition to a principal focus on renewable energy technologies for power generation, the book addresses the challenges of incorporating such technologies into the power grid, as well as potential improvements in the national electricity grid that could enable better and more extensive utilization of wind, solar-thermal, solar photovoltaics, and other renewable technologies.

Harnessing Variable Renewables

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Publisher : Organization for Economic Co-Operation & Developme
ISBN 13 :
Total Pages : 234 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Harnessing Variable Renewables by : Organisation for Economic Co-operation and Development

Download or read book Harnessing Variable Renewables written by Organisation for Economic Co-operation and Development and published by Organization for Economic Co-Operation & Developme. This book was released on 2011 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Power systems must be actively managed to maintain a steady balance between supply and demand. This is already a complex task as demand varies continually. But what happens when supply becomes more variable and less certain, as with some renewable sources of electricity like wind and solar PV that fluctuate with the weather? to what extent can the resources that help power systems cope with the challenge of variability in demand also be applied to variability of supply? How large are these resources? and what share of electricity supply from variable renewables can they make possible? There is no one-size-fits-all answer. the ways electricity is produced, transported and consumed around the world exhibit great diversity. Grids can cross borders, requiring co-ordinated international policy, or can be distinct within a single country or region. and whether found in dispatchable power plants, storage facilities, interconnections for trade or on the demand side, the flexible resource that ensures the provision of reliable power in the face of uncertainty likewise differs enormously. Written for decision makers, Harnessing Variable Renewables: a Guide to the Balancing Challenge sheds light on managing power systems with large shares of variable renewables. It presents a new, step-by-step approach developed by the IEA to assess the flexibility of power systems, which identifies the already present resources that could help meet the twin challenges of variability and uncertainty.

Utility Green Pricing Programs: A Statistical Analysis of Program Effectiveness

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Publisher : DIANE Publishing
ISBN 13 : 1428917276
Total Pages : 37 pages
Book Rating : 4.4/5 (289 download)

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Book Synopsis Utility Green Pricing Programs: A Statistical Analysis of Program Effectiveness by :

Download or read book Utility Green Pricing Programs: A Statistical Analysis of Program Effectiveness written by and published by DIANE Publishing. This book was released on with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Electricity Marginal Cost Pricing

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Publisher : Elsevier
ISBN 13 : 0123854660
Total Pages : 369 pages
Book Rating : 4.1/5 (238 download)

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Book Synopsis Electricity Marginal Cost Pricing by : Monica Greer

Download or read book Electricity Marginal Cost Pricing written by Monica Greer and published by Elsevier. This book was released on 2012-03-13 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Packed with case studies and practical real-world examples, Electricity Marginal Cost Pricing Principles allows regulators, engineers and energy economists to choose the pricing model that best fits their individual market. Written by an author with 13 years of practical experience, the book begins with a clear and rigorous explanation of the theory of efficient pricing and how it impacts investor-owned, publicly-owned, and cooperatively-owned utilities using tried and true methods such as multiple-output, functional form, and multiproduct cost models. The author then moves on to include self-contained chapters on applying estimating cost models, including a cubic cost specification and policy implications while supplying actual data and examples to allow regulators, energy economists, and engineers to get a feel for the methods with which efficient prices are derived in today’s challenging electricity market. A guide to cost issues surrounding the generation, transmission, and distribution of electricity Clearly explains cost models which can yield the marginal cost of supplying electricity to end-users Real-world examples that are practical, meaningful, and easy to understand Explans the policy implications of each example Provide suggestions to aid in the formation of the optimal market price

Renewable power generation costs in 2018

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Publisher : International Renewable Energy Agency (IRENA)
ISBN 13 : 929260208X
Total Pages : 119 pages
Book Rating : 4.2/5 (926 download)

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Book Synopsis Renewable power generation costs in 2018 by : International Renewable Energy Agency IRENA

Download or read book Renewable power generation costs in 2018 written by International Renewable Energy Agency IRENA and published by International Renewable Energy Agency (IRENA). This book was released on 2019-05-01 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: IRENA’s latest global cost study shows solar and wind power reaching new price lows. The report highlights cost trends for all major renewable electricity sources.

Variable Energy Pricing in Stand Alone Community Hybrid Energy Systems

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (141 download)

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Book Synopsis Variable Energy Pricing in Stand Alone Community Hybrid Energy Systems by : Callum Rae

Download or read book Variable Energy Pricing in Stand Alone Community Hybrid Energy Systems written by Callum Rae and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Satisfying the demand for a more efficient and sustainable energy supply model has presented a new challenge for the energy industry. It has also created an opportunity for alternative and renewable sources of energy generation, which has led to a significant increase in the deployment of renewable technologies in many countries. Recent years have also seen these technologies deployed at a community scale, with remote and isolated communities in particular being regarded as ideal locations. Such systems are capable of providing increasingly viable, standalone alternatives to the centralised energy supply model.This thesis investigates the extent to which the viability of these stand-alone hybrid energy systems could be further improved by implementing domestic demand response, promoted via variable domestic energy pricing. A high resolution,disaggregated model of domestic energy demand at the community level is then developed, supported by the findings of a targeted consumer attitudes survey. This model is combined with a series of demand response algorithms which replicate the response of domestic consumers to energy price variation. Three variable pricing approaches are then applied to the model under a range of conditions, and the impacts examined from both a community-wide and household level perspective.The thesis demonstrates the relevance and potential of stand-alone hybrid applications and the remote/isolated communities in which they are typically deployed. The results find variable domestic energy pricing based on renewable energy supply to be capable of achieving modest yet significant levels of demand response under a broad range of conditions (83% of the scenarios modelled).Further sensitivity analysis shows the pricing strategies to be resilient to changes in supply conditions, thereby illustrating the broad ranging potential of such an approach. However, susceptibility to free-rider behaviour and insensitivity to household elasticity levels suggest the need for additional/supplementary forms of financial incentivisation.

Electricity Deregulation

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Publisher : University of Chicago Press
ISBN 13 : 0226308588
Total Pages : 453 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Electricity Deregulation by : James M. Griffin

Download or read book Electricity Deregulation written by James M. Griffin and published by University of Chicago Press. This book was released on 2009-11-15 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: The electricity market has experienced enormous setbacks in delivering on the promise of deregulation. In theory, deregulating the electricity market would increase the efficiency of the industry by producing electricity at lower costs and passing those cost savings on to customers. As Electricity Deregulation shows, successful deregulation is possible, although it is by no means a hands-off process—in fact, it requires a substantial amount of design and regulatory oversight. This collection brings together leading experts from academia, government, and big business to discuss the lessons learned from experiences such as California's market meltdown as well as the ill-conceived policy choices that contributed to those failures. More importantly, the essays that comprise Electricity Deregulation offer a number of innovative prescriptions for the successful design of deregulated electricity markets. Written with economists and professionals associated with each of the network industries in mind, this comprehensive volume provides a timely and astute deliberation on the many risks and rewards of electricity deregulation.

The Power of Change

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Publisher : National Academies Press
ISBN 13 : 0309371422
Total Pages : 341 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis The Power of Change by : National Academies of Sciences, Engineering, and Medicine

Download or read book The Power of Change written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2016-09-30 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, supplied reliably and affordably, is foundational to the U.S. economy and is utterly indispensable to modern society. However, emissions resulting from many forms of electricity generation create environmental risks that could have significant negative economic, security, and human health consequences. Large-scale installation of cleaner power generation has been generally hampered because greener technologies are more expensive than the technologies that currently produce most of our power. Rather than trade affordability and reliability for low emissions, is there a way to balance all three? The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies considers how to speed up innovations that would dramatically improve the performance and lower the cost of currently available technologies while also developing new advanced cleaner energy technologies. According to this report, there is an opportunity for the United States to continue to lead in the pursuit of increasingly clean, more efficient electricity through innovation in advanced technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies makes the case that America's advantagesâ€"world-class universities and national laboratories, a vibrant private sector, and innovative states, cities, and regions that are free to experiment with a variety of public policy approachesâ€"position the United States to create and lead a new clean energy revolution. This study focuses on five paths to accelerate the market adoption of increasing clean energy and efficiency technologies: (1) expanding the portfolio of cleaner energy technology options; (2) leveraging the advantages of energy efficiency; (3) facilitating the development of increasing clean technologies, including renewables, nuclear, and cleaner fossil; (4) improving the existing technologies, systems, and infrastructure; and (5) leveling the playing field for cleaner energy technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies is a call for leadership to transform the United States energy sector in order to both mitigate the risks of greenhouse gas and other pollutants and to spur future economic growth. This study's focus on science, technology, and economic policy makes it a valuable resource to guide support that produces innovation to meet energy challenges now and for the future.

Complementarity Modeling in Energy Markets

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Publisher : Springer Science & Business Media
ISBN 13 : 1441961232
Total Pages : 637 pages
Book Rating : 4.4/5 (419 download)

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Book Synopsis Complementarity Modeling in Energy Markets by : Steven A. Gabriel

Download or read book Complementarity Modeling in Energy Markets written by Steven A. Gabriel and published by Springer Science & Business Media. This book was released on 2012-07-20 with total page 637 pages. Available in PDF, EPUB and Kindle. Book excerpt: This addition to the ISOR series introduces complementarity models in a straightforward and approachable manner and uses them to carry out an in-depth analysis of energy markets, including formulation issues and solution techniques. In a nutshell, complementarity models generalize: a. optimization problems via their Karush-Kuhn-Tucker conditions b. on-cooperative games in which each player may be solving a separate but related optimization problem with potentially overall system constraints (e.g., market-clearing conditions) c. conomic and engineering problems that aren’t specifically derived from optimization problems (e.g., spatial price equilibria) d. roblems in which both primal and dual variables (prices) appear in the original formulation (e.g., The National Energy Modeling System (NEMS) or its precursor, PIES). As such, complementarity models are a very general and flexible modeling format. A natural question is why concentrate on energy markets for this complementarity approach? s it turns out, energy or other markets that have game theoretic aspects are best modeled by complementarity problems. The reason is that the traditional perfect competition approach no longer applies due to deregulation and restructuring of these markets and thus the corresponding optimization problems may no longer hold. Also, in some instances it is important in the original model formulation to involve both primal variables (e.g., production) as well as dual variables (e.g., market prices) for public and private sector energy planning. Traditional optimization problems can not directly handle this mixing of primal and dual variables but complementarity models can and this makes them all that more effective for decision-makers.

Complementarity of Variable Renewable Energy Sources

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Publisher : Academic Press
ISBN 13 : 0323855288
Total Pages : 746 pages
Book Rating : 4.3/5 (238 download)

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Book Synopsis Complementarity of Variable Renewable Energy Sources by : Jakub Jurasz

Download or read book Complementarity of Variable Renewable Energy Sources written by Jakub Jurasz and published by Academic Press. This book was released on 2022-05-23 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: Complementarity of Variable Renewable Energy Sources consolidates current developments on the subject, addressing all technical advances, presenting new mapping results, and bringing new insights for the continuation of research and implementation on this fascinating topic. By answering questions such as How can complementarity be used in the operation of large interconnected systems?, What is the real applicability potential of energetic complementarity?, and How will it impact energy generation systems?, this title is useful for all researchers, academic and students investigating the topic of renewable energy complementarity in systems. In just over a decade, the subject of 'energy complementarity' has experienced a growing presence and understanding by researchers and managers of energy resources looking to enhance energy systems. Early research proposed methods to quantify complementarity, the effects of complementarity on performance of hybrid systems, and how to identify and map complementarity between solar energy, wind energy and hydroelectric energy systems. Includes chapter maps to visualize system performance under different complementarity indexes Addresses complementarity in the operation of large and small to medium-sized hybrid systems Provides methods for determining complementarity between various energy sources

The Power of Renewables

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Publisher : National Academies Press
ISBN 13 : 0309160006
Total Pages : 256 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis The Power of Renewables by : Chinese Academy of Engineering

Download or read book The Power of Renewables written by Chinese Academy of Engineering and published by National Academies Press. This book was released on 2011-01-29 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States and China are the world's top two energy consumers and, as of 2010, the two largest economies. Consequently, they have a decisive role to play in the world's clean energy future. Both countries are also motivated by related goals, namely diversified energy portfolios, job creation, energy security, and pollution reduction, making renewable energy development an important strategy with wide-ranging implications. Given the size of their energy markets, any substantial progress the two countries make in advancing use of renewable energy will provide global benefits, in terms of enhanced technological understanding, reduced costs through expanded deployment, and reduced greenhouse gas (GHG) emissions relative to conventional generation from fossil fuels. Within this context, the U.S. National Academies, in collaboration with the Chinese Academy of Sciences (CAS) and Chinese Academy of Engineering (CAE), reviewed renewable energy development and deployment in the two countries, to highlight prospects for collaboration across the research to deployment chain and to suggest strategies which would promote more rapid and economical attainment of renewable energy goals. Main findings and concerning renewable resource assessments, technology development, environmental impacts, market infrastructure, among others, are presented. Specific recommendations have been limited to those judged to be most likely to accelerate the pace of deployment, increase cost-competitiveness, or shape the future market for renewable energy. The recommendations presented here are also pragmatic and achievable.

Variable Generation, Flexible Demand

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Publisher : Academic Press
ISBN 13 : 0128241918
Total Pages : 596 pages
Book Rating : 4.1/5 (282 download)

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Book Synopsis Variable Generation, Flexible Demand by : Fereidoon Sioshansi

Download or read book Variable Generation, Flexible Demand written by Fereidoon Sioshansi and published by Academic Press. This book was released on 2020-11-15 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: Variable Generation, Flexible Demand looks at a future in which power system researchers, operators and analysts need to predict variable renewable generation and schedule demand to match it. Contributors survey the significant expansion in the role of flexible demand in balancing supply and demand in conjunction with flexible generation in ‘peaking plants’ and energy storage as the proportion of variable renewable generation rises in many systems across the world. Supported with case studies, the book examines practical ways that demand flexibility can play a constructive role as more systems move towards higher levels of renewable generation in their electricity mix. Examines practical ways that demand flexibility can play a constructive role in future energy systems Reviews the vital role of market design, business models, enabling technologies, policies and regulation in implementation of flexible demand Includes detailed case studies that address the role of flexible demand across transitioning power markets

Variable Renewable Energy and the Electricity Grid

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Publisher : Routledge
ISBN 13 : 1317907671
Total Pages : 361 pages
Book Rating : 4.3/5 (179 download)

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Book Synopsis Variable Renewable Energy and the Electricity Grid by : Jay Apt

Download or read book Variable Renewable Energy and the Electricity Grid written by Jay Apt and published by Routledge. This book was released on 2014-06-13 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: The integration of renewable energy resources into the electricity grid presents an important challenge. This book provides a review and analysis of the technical and policy options available for managing variable energy resources such as wind and solar power. As well as being of value to government and industry policy-makers and planners, the volume also provides a single source for scientists and engineers of the technical knowledge gained during the 4-year RenewElec (renewable electricity) project at Carnegie Mellon University, the University of Vermont, Vermont Law School, and the Van Ness Feldman environmental law firm. The first part of the book discusses the options for large scale integration of variable electric power generation, including issues of predictability, variability, and efficiency. The second part presents the scientific findings of the project. In the final part, the authors undertake a critical review of major quantitative regional and national wind integration studies in the United States. Based on comparisons among these studies, they suggest areas where improvements in methods are warranted in future studies, areas where additional research is needed to facilitate future improvements in wind integration studies and how the research can be put into practice.

Operating and Planning Electricity Grids with Variable Renewable Generation

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Publisher : World Bank Publications
ISBN 13 : 0821397346
Total Pages : 126 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Operating and Planning Electricity Grids with Variable Renewable Generation by : Marcelino Madrigal

Download or read book Operating and Planning Electricity Grids with Variable Renewable Generation written by Marcelino Madrigal and published by World Bank Publications. This book was released on 2013-02-27 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper ‘Challenges and Approaches to Electricity Grids Operations and Planning with Increased Amounts of Variable Renewable Generation: Emerging Lessons from Selected Operational Experiences and Desktop Studies’ focuses on analyzing the impacts of variable renewable energy on the operation and planning of the the power system (mostly, generation system). It is aimed at informing stakeholders in power utilities, regulatory bodies and other relevant audiences, on the fundamentals of technical challenges and approaches to operate electricity grids with renewable energy. It covers renewable energy as a whole, but in particular, focusses on wind and solar energy. It also presents three case studies of countries, including China, Gemany and Spain. The total worldwide installed capacity of wind and solar projects is growing rapidly, and several countries are noticing increased penetrations of wind and solar in their electricity generation mix. In addition to operating experience being gained from adding wind and solar capacity, several grid integration studies have been performed that assess potential grid and operating impacts from adding higher amounts of wind and solar capacity. Perhaps just as important, the electric power industry and those that conduct research on grid integration have not found a maximum level of variable generation that can be reliably incorporated, and it is clear that it is as much an economic question (how much cost in additional reserves or grid impacts is acceptable) as a technical question regarding grid operators’ ability to adapt to the new challenges. In addition, while their contributions to capacity or “firm” power and associated costs are different from those of conventional power sources, variable renewable generation technologies can contribute to long-term system adequacy and security. The paper describes on the contribution of variable power sources to long-term supply adequacy requirements, i.e. how much sources like wind and solar power contribute to “firm supply” in a system. It also describes methods to find out to what extent they contribute and at what cost. It also aims at providing indicative answers to how costs to system operations be determined and when and how an integration study be done to estimate the short-term reserve costs of renewable energy. The concepts in the paper should be of interest, especially to grid planers. For grid operators, the paper summarizes a menu of strategies that the operational practices and desktop research tell about managing wind in a system at different levels of penetration. It also elucidates available strategies, amongst other crucial questions of operational impacts and challenges that operators need to be aware of, to integrate variable generation.