| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29510 |
| 来源ID | Working Paper 29510 |
| Electricity Price Distributions in Future Renewables-Dominant Power Grids and Policy Implications | |
| Dharik S. Mallapragada; Cristian Junge; Cathy Xun Wang; Johannes Pfeifenberger; Paul L. Joskow; Richard Schmalensee | |
| 发表日期 | 2021-11-22 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Future electricity systems with tight constraints on carbon emissions will rely much more on wind and solar generation, with zero marginal cost, than today. We use capacity expansion modelling of Texas in 2050 to illustrate wholesale price distributions in future energy-only, carbon-constrained grids without price caps under a range of technology/system assumptions. Tightening carbon emissions constraints dramatically increases the frequency of very low prices. The frequency of high prices also increases, and all resources earn the bulk of their energy market revenues in relatively few hours. The presence of demand response, long-duration energy storage, dispatchable low-carbon generation, or a robust market for hydrogen for non-electricity use (and for energy storage) weakens but does not undo these results. Financial instruments to hedge price volatility will consequently be more costly and it is likely that we will need to redesign capacity remuneration mechanisms to provide adequate incentives for optimal investment in VRE generation and, particularly, storage. In order to encourage economy-wide electrification, the marginal retail price of electricity should be low whenever the wholesale price is low. With automated control of demand via demand response contracts, the risks of price volatility faced by retail customers can be mitigated without sacrificing efficiency. To encourage economy-wide electrification, the marginal retail price of electricity should be low when the wholesale spot price is low. We discuss ways of reducing consumers’ risk in this world while providing adequate investment incentives. |
| 主题 | Industrial Organization ; Market Structure and Firm Performance ; Regulatory Economics ; Industry Studies ; Environmental and Resource Economics ; Energy |
| URL | https://www.nber.org/papers/w29510 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587184 |
| 推荐引用方式 GB/T 7714 | Dharik S. Mallapragada,Cristian Junge,Cathy Xun Wang,et al. Electricity Price Distributions in Future Renewables-Dominant Power Grids and Policy Implications. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29510.pdf（2609KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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