Bhagwat, Pradyumna C.
[Verfasser:in];
Iychettira, Kaveri K.
[Verfasser:in];
Richstein, Jörn C.
[Verfasser:in];
Chappin, Emile J.L.
[Verfasser:in];
Vries, Laurens J. De
[Verfasser:in]
The effectiveness of capacity markets in the presence of a high portfolio share of renewable energy sources
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Medientyp:
E-Artikel
Titel:
The effectiveness of capacity markets in the presence of a high portfolio share of renewable energy sources
Beteiligte:
Bhagwat, Pradyumna C.
[Verfasser:in];
Iychettira, Kaveri K.
[Verfasser:in];
Richstein, Jörn C.
[Verfasser:in];
Chappin, Emile J.L.
[Verfasser:in];
Vries, Laurens J. De
[Verfasser:in]
Anmerkungen:
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Beschreibung:
The effectiveness of a capacity market is analyzed by simulating three conditions that may cause suboptimal investment in the electricity generation: imperfect information and uncertainty; declining demand shocks resulting in load loss; and a growing share of renewable energy sources in the generation portfolio. Implementation of a capacity market can improve supply adequacy and reduce consumer costs. It mainly leads to more investment in low-cost peak generation units. If the administratively determined reserve margin is high enough, the security of supply is not significantly affected by uncertainties or demand shocks. A capacity market is found to be more effective than a strategic reserve for ensuring reliability.