Revisiting long-run relations in power markets with high RES penetration

Gianfreda, Angelica; Parisio, Lucia; Pelagatti, Matteo

doi:10.1016/j.enpol.2016.02.006

Cited by 37 publications

(29 citation statements)

References 29 publications

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“…Individual consumers can gain when monopolies are avoided, power is guaranteed and peaks in demand are reduced, and the consumers' communities can generate tax income, generate jobs, reduce CO 2 emission, etc. It is observed that renewable energy production reduces spot prices on electricity markets [34] [35], and its consumption enhances the income growth in high-income countries (OECD) [36] and global trade [37]. However, specifications of the costs, benefits and conditions for high benefits have rarely been assessed.…”

Section: Innovative Performancementioning

confidence: 99%

Valorisation of energy services: essay on the value addition due to renewable energy

Krozer

2019

Energ Sustain Soc

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The shift from fossil fuels and traditional renewable energy to costlier modern renewable energy based on geothermal wind and solar resources is explained. Statistical data collected from 14 countries with a population greater than 100 million inhabitants was used, where the EU is considered as a country. The period from 1990 to 2015 is covered, however divided in two parts, 1990-2005 when conditions were not favourable for renewable energy because the price of fossil fuels and policy support for renewable energy were low, and 2005-2015 when these conditions improved. Theoretical analyses show that the high price of fossil fuels, policy support and cost-effective technologies can explain the fast growth of modern renewable energy during 2005-2015; however, they only partially account for its slower growth during 1990-2005. An additional explanation might be that the innovators generate qualities due to renewable energy use, which are expressed on the markets as value addition of energy services. The statistical analysis of energy services during 1990-2005 shows that the European Union (EU) led in renewable energy compared to the United States (US), Japan and other countries, which was driven by the social initiatives that fostered new firms in the electricity and gas business. A statistical analysis of energy services in the US and EU during 2005-2015 reveals that their value added has grown on an annual average of 2.0% and 2.8%, respectively, which denotes an annual increase of 3 billion and 6 billion US dollars in the 2005 value (USD 2005). This valorisation of energy services has invoked further innovations in distributed energy systems and energy storage. A further statistical analysis of the 14 largest countries by population confirms a valorisation of energy services due to modern renewable energy where the emission reduction of carbon dioxide (CO 2) is a side-effect. Extrapolation of the average growth rates from the period 1990 to 2015 to the period 2015 to 2040, without any change but a substitution of fossil fuels for renewable energy, demonstrates that global income would grow fourfold and energy consumption twofold along with a 100 times larger modern renewable energy and CO 2 reduction to 46% of the 2015 level. When those average growth rates of renewable energy decrease linear to 25% in 2040, the global modern renewable energy grows tenfold and CO 2 reduces to 82% of the 2015 level. The implication of this statistical study on large countries shows that higher value energy services for households are often based on distributed renewable energy and that such an addition of value generates a CO 2 emission reduction as a side effect which can be enhanced by pricing CO 2 or obstructed by policy support for the vested interests. This study indicated that the valorisation of energy services will generate a growth of income, energy consumption and renewable energy along with a far-reaching emission reduction of CO 2 if policies do foster sustainable innovations.

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Section: Innovative Performancementioning

confidence: 99%

Valorisation of energy services: essay on the value addition due to renewable energy

Krozer

2019

Energ Sustain Soc

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“…In turn, with regard to the WEF Nexus concept, existing literature reveals that in the EU, the concept is often used to address links between only two sectors, or to analyze impacts of one sector on another. Examples include the nexus between energy consumption and economic growth [16,17], the electricity-fuel nexus [18], or the climate-energy security nexus [19,20]. More closely in line with the nexus approach as it was internationally promoted, Karabulut et al [21] and Ziv, Watson, Young, Howard, Larcom, and Tanentzap [3] apply the water-energy-food nexus approach to case studies in the Danube river basin and the UK, whereas Siciliano et al [22] analyze the relations between European large-scale farmland investments and the nexus.…”

Section: Introductionmentioning

confidence: 99%

Linking Environmental Policy Integration and the Water-Energy-Land-(Food-)Nexus: A Review of the European Union’s Energy, Water, and Agricultural Policies

et al. 2019

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Against the backdrop of climate and environmental pressures, as well as limited resource availability and trade conflicts, devising policies for energy and the use of natural resources in general becomes exceedingly complex. Moreover, policies are required to account for interrelations between individual resources and between different sectors and policy fields, but implementation often lacks. To evaluate the current state of integrated policy design in the EU, a review of European energy, water, and agricultural policies was conducted. Using a qualitative comparative research approach, the objective was to identify and explain the differing degrees and variations in policy integration among them. To this aim, the concepts “Environmental Policy Integration” and “Water-Energy-Land Nexus” were jointly applied as analytical frameworks. The analysis revealed that currently, different authorities are endowed with largely sectoral mandates. Accordingly, the respective sectoral policy sets are historically grown based on differing sets of formal and informal rules and processes, thus making policy integration among the sectors, let alone within the nexus, a highly challenging task.

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“…Power plants and electricity grids in the European Union (EU) still do not operate as a single seamless system. Borders between the Member States matter despite more than two decades have passed since the issue of the first Directive concerning common rules for the internal market in electricity (Buchan and Keay, 2015;Gianfreda, Parasio and Pelagatti, 2016;Glachant, 2016;Neuhoff, Wolter and Schwenen, 2016). This is mainly due to the absence of adequate and timely answers by EU policymakers, addressing several, often basic, questions related to: i) the coordination of actions and decisions; ii) the sharing of costs and benefits; and iii) solidarity beyond costs and benefits (Glachant, Rossetto and Vasconcelos, 2017).…”

Section: Introduction *mentioning

confidence: 99%

The EU Still Waiting for a Seamless Electricity Transmission System: Missing Pillars and Roadblocks

Rossetto

2017

SSRN Journal

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The EU does not have a truly seamless electricity transmission system in place yet. Borders still matter when system planning, expansion and operation are at stake. This fact has a negative consequence on the achievement of the European goals in the field of electricity. Three core pillars, currently missing, must be addressed by national and European policy-makers to move forward: coordination of actions and decisions, sharing of benefits and costs, and solidarity beyond costs and benefits. The importance of this pillars is apparent when considering two issues that have become particularly critical in the last few years: redispatching actions and electricity crisis management. If the three missing pillars are not taken seriously, issues like those of redispatching and crisis management can transform in insurmountable roadblocks on the path towards the establishment of a single market for electricity with high levels of security of supply and a low carbon generation mix.

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Revisiting long-run relations in power markets with high RES penetration

Cited by 37 publications

References 29 publications

Valorisation of energy services: essay on the value addition due to renewable energy

Valorisation of energy services: essay on the value addition due to renewable energy

Linking Environmental Policy Integration and the Water-Energy-Land-(Food-)Nexus: A Review of the European Union’s Energy, Water, and Agricultural Policies

The EU Still Waiting for a Seamless Electricity Transmission System: Missing Pillars and Roadblocks

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