The income that wind and solar power receive on the market is affected by the variability of their output. At times of … average electricity price remains constant. This work quantifies the effect of variability on the market value of renewables … using a calibrated model of the European electricity market. The relative price of German wind power (value factor) is …

empirical market data from Germany. Despite German VRE capacity doubled during the last five years and has surpassed 70% of peak …

This paper estimates the welfare-optimal market share of wind and solar power, explicitly taking into account their … Europe from a calibrated numerical power market model. The optimal long-term share of wind power of total electricity … consumption is estimated to be 20% at cost levels of 50 €/MWh, about three times the current market share of wind; but this …

Several studies have shown that the revenues of wind and solar power generators on spot markets (“market value … that this paper aims to fill. We derive a formal expression of the market value as a function of the penetration rate. At … low deployment, the market value is driven by the covariance over time between winds or sunshine and electricity …

This paper estimates the welfare-optimal market share of wind and solar power, explicitly taking into account their … Europe from a calibrated numerical power market model. The optimal long-term share of wind power of total electricity … consumption is estimated to be 20% at cost levels of 50 €/MWh, about three times the current market share of wind; but this …

using out-of-market measures. One such measure is "redispatching" power plants, i.e. increasing the output of one power … through voluntary markets. In this paper, we introduce a simple graphical model of a zonal spot market with a locational …, voluntary redispatch market to show that such a market-based solution should not be used in this setting. We solve the model …

lines within zones have to be relieved through other means than the electricity market, e.g. so-called “redispatching” of … through voluntary markets, including a proposal by the European Commission to make such market-based redispatch obligatory …. This paper develops a simple graphical example of a zonal wholesale market with a locational redispatch market that can be …

This paper proposes a game-theoretic model to analyze the strategic behavior of inc-dec gaming in market … setup of two regions. We also benchmark market-based redispatch against grid investment, cost-based redispatch, and the … Vickrey-Clarke-Groves mechanism. The comparison highlights a significant inefficiency of market-based redispatch and inflated …