Impact of renewables on electricity markets – Do support schemes matter?

Winkler, Jenny; Gaio, Alberto; Pfluger, Benjamin; Ragwitz, Mario

doi:10.1016/j.enpol.2016.02.049

Cited by 82 publications

(45 citation statements)

References 30 publications

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“…There are a number of international studies that cover similar topics[14][15][16][17][18]. Many of the qualitative findings are similar to those reported in the U.S. literature.…”

supporting

confidence: 62%

Impacts of variable renewable energy on wholesale markets and generating assets in the United States: A review of expectations and evidence

Mills

Levin

Wiser

et al. 2020

Renewable and Sustainable Energy Reviews

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We synthesize available literature, data, and analysis on the degree to which growth in variable renewable energy (VRE) has impacted or might in the future impact bulk power system assets, pricing, and costs in the United States. Most studies of future scenarios indicate that VRE reduces wholesale energy prices and capacity factors of thermal generators. Traditional baseload generators are more exposed to these changing market conditions than low-capital cost and more flexible intermediate and peak-load generators. From analysis of historical data we find that VRE is already influencing the bulk power market through changes in temporal and geographic patterns areas with higher levels of VRE. The most significant observed impacts have concentrated in areas with significant VRE and/or nuclear generation along with limited transmission, with negative pricing also often occurring during periods with lower system-wide load. So far, however, VRE, has had a relatively modest impact on historical average annual wholesale prices across entire market regions, at least in comparison to other drivers. The reduction of natural gas prices is the primary contributor to the decline in wholesale prices since 2008. Similarly, VRE impacts on thermal plant retirements have been limited and there is little relationship between the location of recent retirements and VRE penetration levels. Although impacts on wholesale prices have been modest so far, impacts of VRE on the electricity market will be more significant under higher VRE penetrations. KEYWORDSVariable renewable energy; electricity markets; electricity prices; generator profitability 3 ABBREVIATIONS AS Ancillary services CAISO California Independent System Operator CCGT Combined cycle gas turbine CREZ Competitive Renewable Energy Zones CT Combustion turbine DOE

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“…There are a number of international studies that cover similar topics[14][15][16][17][18]. Many of the qualitative findings are similar to those reported in the U.S. literature.…”

supporting

confidence: 62%

Impacts of variable renewable energy on wholesale markets and generating assets in the United States: A review of expectations and evidence

Mills

Levin

Wiser

et al. 2020

Renewable and Sustainable Energy Reviews

View full text Add to dashboard Cite

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“…In spite of the decreasing wholesale electricity prices, mainly due to the so called "merit order effect" [3,42], the "non-contestable charges" growth are attributed to be the main cause of retail electricity prices increase [1]. These "non-contestable charges" were largely contested due to the contributing growth in renewable deployment incentives and the financial crisis in some European countries, like Spain and Italy [7].…”

Section: Review Of Earlier Studiesmentioning

confidence: 99%

Assessing the determinants of household electricity prices in the EU: a system-GMM panel data approach

Silva

Cerqueira

2017

Renewable and Sustainable Energy Reviews

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A meaningful portion of the consumer basket of European households and companies is embodied by electricity as well as gas or refined petroleum products. As energy products are essential inputs of nearly all final goods and services, whichever change of energy prices has a direct impact of the general price level. In this context, the main purpose of this study is to assess the main drivers of household electricity prices in the European Union (EU), throughout a period of deep sector transformation. Relying on Eurostat data, not only we analyze the long-term progress of household electricity prices across the EU, but also we provide empirical evidence on their determinants while confronting the results with the EU energy policy path. For this purpose a firsthand approach is herein developed based on a dynamic model with panel data through GMM proposal method by Blundell and Bond (1998) [4] with the Windermeijer (2005) [41] correction. The data analysis provides grounds for a relation between the variable of household electricity prices with variables related to sector liberalization, renewable energy sources which support the EU policy to boost liberalization. This study offers evidence that the sector liberalization is accompanied by a decreasing trend in prices, which is consistent with the European Commission's objectives to liberalize.

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“…2005), welche erneuerbare Energien und Klimaschutz fördern, diese werden etwa in Form einer Community Energy Policy oder eines Community Energy Management (Jaccard/Failing/Berry 1997) schon seit längerer Zeit angedacht . 2013, De Boeck 2016, Hall/Foxon/Bolton 2016, Winkler et al . 2013, De Boeck 2016, Hall/Foxon/Bolton 2016, Winkler et al .…”

Section: Resümeeunclassified

Bürgerenergie in Deutschland

Radtke

2016

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Weltweite Verteilungskämpfe um knappe Energieressourcen und der Klimawandel mit seinen Auswirkungen führen zu globalen, nationalen, regionalen und auch lokalen Herausforderungen, die Gegenstand dieser Publikationsreihe sind. Die Beiträge der Reihe sollen Chancen und Hemmnisse einer präventiv orientierten Energie-und Klimapolitik vor dem Hintergrund komplexer energiepolitischer und wirtschaftlicher Interessenlagen und Machtverhältnisse ausloten. Themenschwerpunkte sind die Analyse der europäischen und internationalen Liberalisierung der Energiesektoren und -branchen, die internationale Politik zum Schutz des Klimas, Anpassungsmaßnahmen an den Klimawandel in den Entwicklungs-, Schwellenund Industrieländern, die Produktion von biogenen Treibstoffen zur Substitution fossiler Energieträger oder die Probleme der Atomenergie und deren nuklearen Hinterlassenschaften.Die Reihe bietet empirisch angeleiteten, quantitativen und international vergleichenden Arbeiten, Untersuchungen von grenzüberschreitenden Transformationsund Mehrebenenprozessen oder von nationalen "best practice"-Beispielen ebenso ein Forum wie theoriegeleiteten, qualitativen Untersuchungen, die sich mit den grundlegenden Fragen des gesellschaftlichen Wandels in der Energiepolitik und beim Klimaschutz beschäftigen.

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Impact of renewables on electricity markets – Do support schemes matter?

Cited by 82 publications

References 30 publications

Impacts of variable renewable energy on wholesale markets and generating assets in the United States: A review of expectations and evidence

Impacts of variable renewable energy on wholesale markets and generating assets in the United States: A review of expectations and evidence

Assessing the determinants of household electricity prices in the EU: a system-GMM panel data approach

Bürgerenergie in Deutschland

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