Designing tax and subsidy incentives towards a green and reliable electricity market

Masoumzadeh, Amin; Alpcan, Tansu; Nekouei, Ehsan

doi:10.1016/j.energy.2020.117033

Cited by 23 publications

(2 citation statements)

References 33 publications

(42 reference statements)

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“…Several works, apart from advancing energy-only equilibrium formulations, included investment decisions internally within the same model. (Masoumzadeh et al, 2020) presented the equilibrium model with capacity expansion to investigate different tax and subsidy incentives to reach emission reduction and resource adequacy within Australia's electricity market. (Milstein & Tishler, 2011) examine the impact of intermittent renewable energy, specifically PV technology, on the mix of generation capacity and prices in deregulated electricity markets.…”

Section: Energy-only Marketsmentioning

confidence: 99%

Should Electricity Market Designs be Improved to Drive Decarbonization?

Chattopadhyay¹,

Suski²

2022

Policy Research Working Papers

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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Section: Energy-only Marketsmentioning

confidence: 99%

Should Electricity Market Designs be Improved to Drive Decarbonization?

Chattopadhyay¹,

Suski²

2022

Policy Research Working Papers

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“…Martelli et al (2020) proposed a renewable energy subsidy and carbon tax optimization method for multi-energy systems based on bilevel planning, and determined the optimal renewable energy subsidy and carbon tax for small-medium multi-energy systems. Masoumzadeh et al (2020) proposed a novel interactive tax/subsidy incentive framework on both emission reduction and resource adequacy in competitive electricity markets. Wu et al (2020) and Luo et al (2021) studied the impact of government subsidies on renewable energy generation based on actual data in China.…”

Section: Introductionmentioning

confidence: 99%

A bi-layer wind-CCUS-battery expansion stochastic planning framework considering a source-load bilateral carbon incentive mechanism based on the carbon emission flow theory

Deng,

Nan,

Feng

et al. 2023

Front. Energy Res.

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The rapid development of low-carbon energy technologies and energy storage technologies has provided an important and feasible path to decarbonizing the power system. In this context, there is an increasing number of studies on renewable energy, carbon capture, utilization and storage (CCUS) and energy storage expansion planning. However, most of the existing studies attribute the carbon responsibilities to the source side and a small number to the load side. Expansion planning studies that consider the overall carbon emissions of the system to be shared between the source and the load side are still relatively few. Therefore, it is necessary for the source and the load side to share the responsibility for the total system carbon emissions. To fill this research gap, this paper proposes a source-load bilateral carbon incentive mechanism for wind-CCUS-battery power systems based on the carbon emission flow theory. Besides, a bi-layer wind-CCUS-battery expansion stochastic planning framework considering wind and load uncertainties is constructed. The first layer takes the minimum expectation of power generation costs, fixed investment costs of wind turbines and CCUS units and carbon incentive costs as the objective function from a source-side perspective. The second layer takes the minimum battery investment cost and the expectation of electricity purchasing costs and load-side carbon incentive costs as the objective function from a load-side perspective. Finally, the proposed model is tested on the IEEE 24 bus power system for validity and advantage. The results show that the current high investment cost is not favorable to CCUS construction. At this time, the bilateral carbon incentive mechanism is more conducive to promoting system carbon reduction than the unilateral carbon incentive mechanism. In the future, as the cost of CCUS decreases, the source-side carbon incentive mechanism is more conducive to system carbon reduction than the bilateral carbon incentive mechanism. Due to the consideration of the stochastic uncertainty of wind turbines and loads, the research in this paper is closer to the reality, which can provide a reference for the future carbon emission reduction path of the power system, especially for the quantitative analysis of carbon emission reduction of CCUS, which is an important guiding significance for the promotion of the engineering practice of CCUS.

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A novel framework for evaluating the impact of carbon subsidies and taxes on Africa’s energy industry using optimization modelling

Quayson,

Chen,

et al. 2024

Environ Dev Sustain

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Designing tax and subsidy incentives towards a green and reliable electricity market

Cited by 23 publications

References 33 publications

Should Electricity Market Designs be Improved to Drive Decarbonization?

Should Electricity Market Designs be Improved to Drive Decarbonization?

A bi-layer wind-CCUS-battery expansion stochastic planning framework considering a source-load bilateral carbon incentive mechanism based on the carbon emission flow theory

A novel framework for evaluating the impact of carbon subsidies and taxes on Africa’s energy industry using optimization modelling

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