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| 1 |
ID:
191377
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| Summary/Abstract |
The energy crisis and the accelerated transition to climate neutrality result in a shift from the traditional energy trilemma to an “energy quartet” across Europe. Firstly, the criteria of affordability, previously focused on short-term price developments, broadens to reliable affordability including in crises. Secondly, clean energy traditionally focused on clean production now extends to clean energy systems with climate neutral provision of flexibility and enhanced energy efficiency. Thirdly, generation adequacy extends to energy system resilience, for example to interruptions of fuel supply. Fourthly, a new objective of reliable speed is emerging, responding to the constrained carbon budget and the need for predictable demand for energy technologies to unlock investments in manufacturing capacity. Synergies can be realized by jointly addressing the energy quartet. First, hedging of both consumers and producers against power costs (but not price) fluctuations by passing on the conditions of contracts for differences to consumers can enhance speed and predictability of renewable investments. Second, nodal pricing allows the demand side to resolve rather than contribute to transmission constraints, enhancing system security and reducing emissions from fossil assets, which are currently dispatched to resolve transmission constraints. Third, a reformed strategic reserve can contribute to reliable affordability and system security.
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| 2 |
ID:
192772
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| Summary/Abstract |
The energy crisis and the accelerated transition to climate neutrality result in a shift from the traditional energy trilemma to an “energy quartet” across Europe. Firstly, the criteria of affordability, previously focused on short-term price developments, broadens to reliable affordability including in crises. Secondly, clean energy traditionally focused on clean production now extends to clean energy systems with climate neutral provision of flexibility and enhanced energy efficiency. Thirdly, generation adequacy extends to energy system resilience, for example to interruptions of fuel supply. Fourthly, a new objective of reliable speed is emerging, responding to the constrained carbon budget and the need for predictable demand for energy technologies to unlock investments in manufacturing capacity. Synergies can be realized by jointly addressing the energy quartet. First, hedging of both consumers and producers against power costs (but not price) fluctuations by passing on the conditions of contracts for differences to consumers can enhance speed and predictability of renewable investments. Second, nodal pricing allows the demand side to resolve rather than contribute to transmission constraints, enhancing system security and reducing emissions from fossil assets, which are currently dispatched to resolve transmission constraints. Third, a reformed strategic reserve can contribute to reliable affordability and system security.
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| 3 |
ID:
116909
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2012.
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| Summary/Abstract |
Photovoltaic (PV) technologies have demonstrated significant price reductions, but large-scale global application of PV requires further technology improvements and cost reductions along the value chain. We survey policies in Germany and China and the industrial actors they can encourage to pursue innovation, including deployment support, investment support for manufacturing plants and R&D support measures. While deployment support has been successful, investment support for manufacturing in these nations has not been sufficiently tied to innovation incentives, and R&D support has been comparatively weak. The paper concludes with a discussion of the opportunities for global policy coordination.
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| 4 |
ID:
096620
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2010.
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| Summary/Abstract |
Average market prices for intermittent generation technologies are lower than for conventional generation. This has a technical reason but can be exaggerated in the presence of market power. When there is much wind smaller amounts of conventional generation technologies are required, and prices are lower, while at times of little wind prices are higher. This effect reflects the value of different generation technologies to the system. But under conditions of market power, conventional generators with market power can further depress the prices if they have to buy back energy at times of large wind output and can increase prices if they have to sell additional power at times of little wind output. This greatly exaggerates the effect. Forward contracting does not reduce the effect. An important consequence is that allowing market power profit margins as a support mechanism for generation capacity investment is not a technologically neutral policy.
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