We provide some basic background information on support for renewable in California on the expected operation of the power pool and bilateral markets, and on the three key policy types modeled here. We discuss the Elfin production cost and expansion planning model as well as key assumptions that...

Renewable energy production plays a crucial role in the energy transition. However, many renewable energy sources (RES) are intermittent, and there is often a mismatch between energy production and consumption, which can be partially solved by storage. In this paper, we investigate the...

In this work we study the case of agents willing to engage in a Renewable Energy Community (REC). The municipality – being the promoter of the REC – burdens all the investment costs (RE plants, storage, local grid interventions) and entrusts an aggregator of its operation paying a fixed...

In this article we show how different promotion schemes for renewables affect economic welfare. Our starting point is that external benefits of renewable electricity supply besides the abatement of greenhouse gases are not related to actual electricity generation but to producing and installing...

The Western Balkan (WB) countries, with the exception of Albania, generate most of their energy from lignite, which contributes to the highest levels of air pollution in Europe. Energy shortages and high electricity costs are major issues in the WB region, with significant political...

A smart grid is the superposition of one physical electricity network on an information system. "Digitalization" (the growing application of information and communication technologies across the economy) enables electricity to break away from exclusive and centralized generation, opening it up...

This paper discusses the merits and limits of the recent European energy policy aimed at reducing carbon emissions, devoting particular attention to the European Trading System of carbon permits and to the measures that the European Union has adopted to promote renewable energy sources. From the...

We develop an analytical model to derive the competitive market equilibrium for electricity spot and reserve markets under stochastic demand and uncertain renewable electricity generation. We then derive the welfare-optimal provision of reserves. At rst-best, cost of reserve capacity is balanced...

The digitization of power system represents one of the main instruments to achieve the target set by the European Union 2030 climate and energy Agenda of affordable energy transition. During the last years, such innovation process has been associated with the Smart Grid (SG) term. In this...

Aim: This paper aims to describe an approach to develop a simulation model for investigating regional energy markets. Therefore the so called Cellular Approach is combined with the approach of Agent-Based Modelling.Design / Research methods: The model is built as a bottom-up approach for...