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...

Climate change is likely to affect how society will function in this century. Because climate change effects may be severe, a next step is to study not only the effects on natural systems, but also the effects on built infrastructure systems and, in response to anticipated effects, the...

Carbon reduction and renewable energy policies are implemented in Europe to improve the sustainability of the electricity sector while achieving security of supply. We investigate the interactions between these policies using a dynamic investment model. Our analysis indicates that both policies...