Economic analysis of batteries
Autor: | Elissaios Papyrakis, Andreas Coester, Marjan W. Hofkes |
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Přispěvatelé: | Academic staff unit, Environmental Economics, Spatial Economics |
Jazyk: | angličtina |
Rok vydání: | 2020 |
Předmět: |
Renewable energy
Mains electricity 020209 energy Energy security 02 engineering and technology Management Monitoring Policy and Law Batteries SDG 17 - Partnerships for the Goals 020401 chemical engineering 0202 electrical engineering electronic engineering information engineering SDG 13 - Climate Action Electricity market SDG 7 - Affordable and Clean Energy 0204 chemical engineering Free market Electricity market design business.industry Mechanical Engineering Subsidy Building and Construction Environmental economics Investment (macroeconomics) General Energy Electricity business |
Zdroj: | Applied Energy, 275:115364. Elsevier Coester, A, Hofkes, M W & Papyrakis, E 2020, ' Economic analysis of batteries : Impact on security of electricity supply and renewable energy expansion in Germany ', Applied Energy, vol. 275, no. 1, 115364, pp. 1-14 . https://doi.org/10.1016/j.apenergy.2020.115364 Applied Energy, 275(1):115364, 1-14. Elsevier BV |
ISSN: | 0306-2619 |
Popis: | Increasing amounts of fluctuating renewable energy lead to decreasing electricity prices and impair security of electricity supply. Consequently, sustainable and economically feasible solutions need to be found to ensure both ongoing renewable energy expansion and stable electricity supply. We examine the impact of batteries on security of the electricity supply and achieving renewable energy expansion. For this purpose we develop an electricity market model that enables the simulation of batteries both as an economic-driven investment option and as a government subsidized option. We present six policy scenarios in which batteries are utilized as an option that is subsidized by the government to secure electricity supply and engender renewable energy expansion. Our simulations, based on empirical data, indicate that, in a free market, battery investments are not profitable for private investors. On the other hand, these six policy scenarios show that by subsidizing investments in batteries governments could ensure a secure electricity supply as well as ongoing renewable energy expansion. A comparison to similar policy scenarios that do not adopt batteries indicates that the total sum of government subsidies and external costs is up to 36% lower when utilizing batteries. |
Databáze: | OpenAIRE |
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