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| 1 |
ID:
176792
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| Summary/Abstract |
Governments use procurement auctions for renewable energy support to stimulate investment in renewable energy. The main challenge in auction design is the balance between cost-efficient procurement and high post-auction realization, i.e., effective procurement. I empirically assess the effect of prevalent auction design elements on effectiveness, using a unique dataset with results of auctions for renewable energy support from 1990 to 2017. I find that pre-qualifications and penalties drive realization rates, while technological banding or the pricing rule do not affect effectiveness. The former is in line with existing theory, while the latter sheds new lights on auction models and case studies discussing auction outcomes, as literature has thus far broadly agreed on a major influence of all design elements. According to my results, policy makers which focus on high realization rates should include pre-qualification measures and penalties into their design. Importantly, policy makers gain more degrees of freedom regarding other design features to tailor renewable energy auctions to their country. This freedom is advantageous in view of a large variety of countries adapting renewable energy auctions.
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| 2 |
ID:
092798
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| Publication |
2009.
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| Summary/Abstract |
As Europe wants to move towards a secure, sustainable and competitive energy market, it has taken action, amongst other, to support electricity from renewable energy sources (RES-E) and to mitigate CO2 emissions. This paper first qualitatively discusses price- and quantity-based measures for RES-E deployment as well as CO2 mitigation. Next, a simulation model is developed to quantitatively discuss the effects of a tradable green certificate system, a premium mechanism, a tradable CO2 allowance system and a CO2 tax on both RES-E deployment and CO2 mitigation. A three-regional model implementation representing the Benelux, France and Germany is used. In a first step of simulations, all measures are implemented separately. In a second step, combinations of both RES-E supporting and CO2 mitigating measures are simulated and discussed. Significant indirect effects are demonstrated, especially for RES-E supporting measures on the reduction of CO2 emissions. Interactions between different measures show that the price level of quantity-based measures can be strongly influenced.
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| 3 |
ID:
191336
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| Summary/Abstract |
Energy support schemes can either facilitate or restrict the sustainable development of the energy sector. This article reviews the interface and interaction between two types of energy support schemes – renewable energy support schemes and capacity mechanisms – in the European context. It first explains how state aid in the form of these two energy support schemes is regulated in the European Union and, second, shows how this regulation is reflected in national practices of the Member States by exploring the approaches to renewable energy in various capacity mechanisms. This interdisciplinary analysis of the trade-offs and synergies between renewable energy policies and energy security policies in Europe finds that the European experiences are diverse. The article demonstrates how states often operate a conflicting policy mix where renewable energy support facilitates decarbonization while, in many cases, capacity mechanisms simply back up the intermittency of renewable energy sources with fossil-fuel-based energy solutions that hinder the achievement of the energy transition. Facilitating a shift of focus in capacity mechanisms to low-carbon technologies, demand-response, and storage solutions is the first step in resolving the conflicting policy mix.
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| 4 |
ID:
116749
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2012.
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| Summary/Abstract |
While support instruments have succeeded to largely deploy renewables during the 1996-2008 period, little attention has been paid to energy efficiency measures, resulting in a high energy intensity and large growth of energy demand. Energy-related CO2 emissions have increased significantly. At the same time, important investments in combined cycle gas turbines have taken place. This paper analyses whether, from a cost minimization viewpoint, renewable support has been the best policy for reducing emissions, when compared to the promotion of energy efficiency in sectors such as transportation or buildings. We use a model of the Spanish energy sector to examine its evolution in the time period considered under different policies. It is a bottom-up, static, partial equilibrium, linear programming model of the complete Spanish energy system. We conclude that demand side management (DSM) clearly dominates renewable energy (RE) support if the reduction of emissions at minimum cost is the only concern. We also quantify the savings that could have been achieved: a total of €5 billion per year, mainly in RE subsidies and in smaller costs of meeting the reduced demand (net of DSM implementation cost).
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| 5 |
ID:
186416
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| Summary/Abstract |
Hydrogen is a promising supplement in future energy systems with high penetration rates of renewable energy (RE) generation. As conversion technology between the two secondary energy carriers, hydrogen and electricity, particularly grid-connected electrolysers, have a role to play. During the market ramp-up, grid-connected electrolysers could cause unwanted side-effects through inducing additional CO2 emissions in the power sector. Since the reduction of CO2 constitutes the overall goal, a simultaneity obligation between RE generation and hydrogen production is discussed to prevent indirect emissions from an electrolyser's energy consumption. The paper presents a model framework including a mixed-integer linear program and a Markov chain Monte Carlo simulation for stochastic electricity prices to assess a grid-connected electrolyser's dispatch. Within a case study of the German electricity market, the effect of simultaneity on the dispatch is assessed. The results show that simultaneity reduces the CO2 emission intensity of hydrogen while constraining profits. The choice of the simultaneity interval length affects the electrolyser's average contribution margin from hydrogen production and the corresponding profit at risk, which results from fluctuating RE generation. Regulations aiming at the interface between hydrogen and electricity must consider the trade-off between economic viability, full load hours, and associated emissions of electricity-based hydrogen.
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| 6 |
ID:
186482
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| Summary/Abstract |
We examine the economic impacts of using the revenues from environmental taxation to reduce a pre-existing distortionary tax in a multisector economy where the environmental regulation and pre-existing distortionary tax apply heterogeneously across polluting sectors. With a numerical framework including a detailed sectoral disaggregation, we quantify these in the specific case of the European Union where carbon pricing coexists with electricity levies employed to support renewable energy. We find that using auction revenues from the EU Emissions Trading System (ETS) to reduce the national levies results in a 1.8% ETS carbon price increase but a 5.9% drop in the non-ETS carbon constraint. While the energy intensive sectors often benefit from electricity levy exemptions, the combination of these exemptions and of the recycling of carbon auction revenues to support renewable energy makes the ETS sectors worse off than if carbon revenues are transferred to households. In aggregate, the recycling option analysed here results in a GDP gain due to its impacts on the non-ETS sectors, the reduction of the electricity levy and associated distortionary effects.
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