Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2019.02.070 |
The long-term impacts of carbon and variable renewable energy policies on electricity markets | |
Levin, Todd1; Kwon, Jonghwan1; Botterud, Audun1,2 | |
2019-08-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2019 |
卷号 | 131页码:53-71 |
文章类型 | Article |
语种 | 英语 |
国家 | USA |
英文摘要 | We present a computationally-efficient optimization model that finds the least-cost generation unit expansion, commitment, and dispatch plan to serve hourly electricity demand and ancillary service requirements. We apply the model to a case study based on data from the electricity market in Texas (ERCOT) to analyze the market and investment impacts of several incentive mechanisms that support variable renewable energy (VRE) investments and carbon emission reductions. In contrast to many previous studies, the model determines least-cost VRE investments under different cost and incentive assumptions rather than analyzing scenarios where VRE expansion is pre-determined. We find that electricity prices can vary significantly under different incentive mechanisms, even when comparable generation portfolios result. Therefore, the preferred incentive mechanism depends on stakeholder objectives as well as the prevailing electricity market framework. Our results indicate that a carbon tax is more system cost-efficient for reducing emissions, while production and investment tax credits are more system cost-efficient for increasing VRE investments. Similarly, incentive mechanisms that reduce electricity prices may increase the need for separate revenue sufficiency mechanisms (e.g. a capacity market) more than a policy that increases electricity prices. Moreover, the impacts on consumer payments are not always aligned with changes in system costs. Overall, the analysis illustrates the importance of considering electricity market impacts in assessing the economic efficiency of VRE and carbon incentive mechanisms. |
英文关键词 | Renewable energy policy Carbon policy Electricity markets Variable renewable energy Expansion planning Production cost modeling |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000472125200006 |
WOS关键词 | DIFFERENT SUPPORT SCHEMES ; REVENUE SUFFICIENCY ; EXPANSION ; BENEFITS ; SYSTEM ; WIND |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/185553 |
专题 | 气候变化 |
作者单位 | 1.Argonne Natl Lab, Energy Syst Div, Ctr Energy Environm & Econ Syst Anal, 9700 S Cass Ave, Argonne, IL 60439 USA; 2.MIT, Inst Data Syst & Soc, Lab Informat & Decis Syst, 77 Massachusetts Ave, Cambridge, MA 02139 USA |
推荐引用方式 GB/T 7714 | Levin, Todd,Kwon, Jonghwan,Botterud, Audun. The long-term impacts of carbon and variable renewable energy policies on electricity markets[J]. ENERGY POLICY,2019,131:53-71. |
APA | Levin, Todd,Kwon, Jonghwan,&Botterud, Audun.(2019).The long-term impacts of carbon and variable renewable energy policies on electricity markets.ENERGY POLICY,131,53-71. |
MLA | Levin, Todd,et al."The long-term impacts of carbon and variable renewable energy policies on electricity markets".ENERGY POLICY 131(2019):53-71. |
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