Evolution of Wholesale Electricity Market Design with Increasing Levels of Renewable Generation
Variable generation such as wind and photovoltaic solar power has increased substantially in recent years. Variable generation has unique characteristics compared to the traditional technologies that supply energy in the wholesale electricity markets. These characteristics create unique challenges in planning and operating the power system, and they can also influence the performance and outcomes from electricity markets. This report focuses on two particular issues related to market design: revenue sufficiency for long-term reliability and incentivizing flexibility in short-term operations. The report provides an overview of current design and some designs that have been proposed by industry or researchers.
- Research Organization:
- National Renewable Energy Lab. (NREL), Golden, CO (United States)
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy Wind Power Technologies Office
- DOE Contract Number:
- AC36-08GO28308
- OSTI ID:
- 1159375
- Report Number(s):
- NREL/TP-5D00-61765
- Country of Publication:
- United States
- Language:
- English
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