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https://doi.org/10.21256/zhaw-19317| Publication type: | Article in scientific journal |
| Type of review: | Peer review (publication) |
| Title: | Buffering volatility : storage investments and technology-specific renewable energy support |
| Authors: | Abrell, Jan Rausch, Sebastian Streitberger, Clemens |
| et. al: | No |
| DOI: | 10.1016/j.eneco.2019.07.023 10.21256/zhaw-19317 |
| Published in: | Energy Economics |
| Volume(Issue): | 84 |
| Issue: | Supplement 1 |
| Issue Date: | 2019 |
| Publisher / Ed. Institution: | Elsevier |
| ISSN: | 0140-9883 |
| Language: | English |
| Subjects: | Energy policy; Technology-specific regulation; Volatility; Renewable energy |
| Subject (DDC): | 333.79: Energy |
| Abstract: | Mitigating climate change will require integrating large amounts of highly intermittent renewable energy (RE) sources in future electricity markets. Considerable uncertainties exist about the cost and availability of future large-scale storage to alleviate the potential mismatch between demand and supply. This paper examines the suitability of regulatory (public policy) mechanisms for coping with the volatility induced by intermittent RE sources, using a numerical equilibrium model of a future wholesale electricity market. We find that the optimal RE subsidies are technology-specific reflecting the heterogeneous value for system integration. Differentiated RE subsidies reduce the curtailment of excess production, thereby preventing costly investments in energy storage. Using a simple cost-benefit framework, we show that a smart design of RE support policies significantly reduces the level of optimal storage. We further find that the marginal benefits of storage rapidly decrease for short-term (intra-day) storage and are small for long-term (seasonal) storage independent of the storage level. This suggests that storage is not likely to be the limiting factor for decarbonizing the electricity sector. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/19317 |
| Fulltext version: | Published version |
| License (according to publishing contract): | CC BY-NC-ND 4.0: Attribution - Non commercial - No derivatives 4.0 International |
| Departement: | School of Management and Law |
| Organisational Unit: | Center for Energy and Environment (CEE) |
| Appears in collections: | Publikationen School of Management and Law |
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| Buffering Volatility_2019_SC1.1-1.pdf | 867.56 kB | Adobe PDF |  View/Open |
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Abrell, J., Rausch, S., & Streitberger, C. (2019). Buffering volatility : storage investments and technology-specific renewable energy support. Energy Economics, 84(Supplement 1). https://doi.org/10.1016/j.eneco.2019.07.023
Abrell, J., Rausch, S. and Streitberger, C. (2019) ‘Buffering volatility : storage investments and technology-specific renewable energy support’, Energy Economics, 84(Supplement 1). Available at: https://doi.org/10.1016/j.eneco.2019.07.023.
J. Abrell, S. Rausch, and C. Streitberger, “Buffering volatility : storage investments and technology-specific renewable energy support,” Energy Economics, vol. 84, no. Supplement 1, 2019, doi: 10.1016/j.eneco.2019.07.023.
ABRELL, Jan, Sebastian RAUSCH und Clemens STREITBERGER, 2019. Buffering volatility : storage investments and technology-specific renewable energy support. Energy Economics. 2019. Bd. 84, Nr. Supplement 1. DOI 10.1016/j.eneco.2019.07.023
Abrell, Jan, Sebastian Rausch, and Clemens Streitberger. 2019. “Buffering Volatility : Storage Investments and Technology-Specific Renewable Energy Support.” Energy Economics 84 (Supplement 1). https://doi.org/10.1016/j.eneco.2019.07.023.
Abrell, Jan, et al. “Buffering Volatility : Storage Investments and Technology-Specific Renewable Energy Support.” Energy Economics, vol. 84, no. Supplement 1, 2019, https://doi.org/10.1016/j.eneco.2019.07.023.
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