Setting with the Sun: The Impacts of Renewable Energy on Wholesale Power Markets
Setting with the Sun: The Impacts of Renewable Energy on Wholesale Power Markets
复制标题
与日俱增：可再生能源对批发电力市场的影响
DOI：
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发表时间：
2018
期刊：
影响因子：
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通讯作者：
Kevin Novan
中科院分区：
文献类型：
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作者：
J. Bushnell;Kevin Novan
支持可再生电力投资的政策一直是世界许多地区气候政策的基石。虽然以前的实证工作探讨了可再生能源生产的经济和环境影响，但重点完全放在扩大可再生能源供应的短期影响上。在本文中，我们阐明了可再生能源扩张的长期影响。以加州电力市场为重点，我们估计批发电价如何对公用事业规模太阳能发电能力的大幅增加做出反应。虽然每日平均价格的大幅下降可归因于太阳能产能的扩张，但这种平均价格的影响掩盖了中午价格的大幅下降以及平时价格的上涨。这些结果意味着，短期电力市场正在以一种可以维持更灵活的传统发电的方式对可再生能源的扩张做出反应，同时严重破坏了传统基荷发电技术的经济可行性。
Policies supporting investment in renewable electricity have been a cornerstone of climate policy in many parts of the world. While previous empirical work explores the economic and environmental impacts of renewable production, the focus has exclusively been on the short-run impacts of expanding renewable supply. In this paper, we shed light on the longer run impacts of renewable expansions. Focusing on the California electricity market, we estimate how wholesale electricity prices have responded to a dramatic increase in utility-scale solar capacity. While a substantial decline in daily average prices can be attributed to the solar capacity expansion, this average price impact masks a substantial decrease in mid-day prices combined with an increase in shoulder hour prices. These results imply that short-term power markets are responding to the renewable expansion in a fashion that could sustain more flexible conventional generation, while seriously undermining the economic viability of traditional baseload generation technologies.