Real-time pricing and the cost of clean power

Imelda Imelda, Matthias Fripp, Michael J. Roberts

Solar and wind power are now cheaper than fossil fuels but are intermittent. The extra supply-side variability implies growing benefits of using real-time retail pricing (RTP). We evaluate the potential gains of RTP using a model that jointly solves investment, supply, storage, and demand to obtain a chronologically detailed dynamic equilibrium for the island of Oahu, Hawai'i. Across a wide range of cost and demand assumptions, we find the gains from RTP in high-renewable systems to exceed those in a conventional fossil system by roughly 6 times to 12 times, markedly lowering the cost of renewable energy integration.

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Year of publication:	August 2022
Authors:	Imelda ; Fripp, Matthias ; Roberts, Michael J.
Publisher:	Geneva, Switzerland : Graduate Institute of International and Development Studies, International Economics Department
Subject:	Renewable energy \| real-time pricing \| storage \| demand response \| optimization \| Strompreis \| Electricity price \| Erneuerbare Energie \| Preismanagement \| Pricing strategy \| Theorie \| Theory \| Lastmanagement \| Demand-side management

Extent:	1 Online-Ressource (circa 64 Seiten) Illustrationen
Series:	Working paper / Graduate Institute of International and Development Studies. - Genève : [Verlag nicht ermittelbar], ZDB-ID 2523350-6. - Vol. no. HEIDWP2022, 17
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/266131 [Handle]
Classification:	Q41 - Demand and Supply ; Q42 - Alternative Energy Sources ; Q53 - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013332303