Market Designs for High Levels of Variable Generation: Preprint
Variable renewable generation is increasing in penetration in modern power systems, leading to higher variability in the supply and price of electricity as well as lower average spot prices. This raises new challenges, particularly in ensuring sufficient capacity and flexibility from conventional technologies. Because the fixed costs and lifetimes of electricity generation investments are significant, designing markets and regulations that ensure the efficient integration of renewable generation is a significant challenge. This papers reviews the state of play of market designs for high levels of variable generation in the United States and Europe and considers new developments in both regions.
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- Resource Relation:
- Conference: Presented at the IEEE Power and Energy Society General Meeting, 27-31 July 2014, National Harbor, Maryland
- Research Org:
- National Renewable Energy Laboratory (NREL), Golden, CO.
- Sponsoring Org:
- USDOE Office of Energy Efficiency and Renewable Energy Wind Power Technologies Office
- Country of Publication:
- United States
- 17 WIND ENERGY WIND ENERGY; POWER MARKETS; ADEQUACY; CAPACITY; NATIONAL RENEWABLE ENERGY LABORATORY; NREL; Wind Energy
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