Analyzing Electricity Markets with Increasing Penetration of Large-Scale Renewable Power Generation
| Autor: | Joel Kennedy, Chayne Planiden, Ashish P. Agalgaonkar, Chris Johnathon |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
renewable energy technologies
Technology Control and Optimization Power system security Renewable Energy Sustainability and the Environment business.industry Energy Engineering and Power Technology Energy mix Building and Construction Environmental economics variable renewable energy interconnected power systems Renewable energy Variable renewable energy Scale (social sciences) electricity markets Electricity market Renewable power generation Business Electricity Electrical and Electronic Engineering Engineering (miscellaneous) Energy (miscellaneous) |
| Zdroj: | Energies, Vol 14, Iss 7618, p 7618 (2021) |
| ISSN: | 1996-1073 |
| Popis: | Global electricity markets are undergoing a rapid transformation in their energy mix to meet commitments towards sustainable electric grids. This change in energy mix engenders significant challenges, specifically concerning the management of non-dispatchable energy resources. System and market operators are required to meet power system security and reliability requirements whilst providing electricity at competitive prices. An overview of electricity markets is provided in this paper with a critical appraisal of each market’s ability to manage the large-scale energy mix transition. This paper provides a commentary on the distinct features of electricity market models implemented around the world and highlights the barriers within these market models that are hindering the energy mix transition. Various researchers and policymakers are proposing solutions and market reforms for the smooth transitioning of the energy mix. This paper presents a systematic review of the proposed solutions in the literature and critiques the effectiveness and ease of implementation of the reviewed solutions. Research gaps and future research directions are indicated to promote further exploration towards the effective integration of large-scale renewable energy technologies. |
| Databáze: | OpenAIRE |
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