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ID:
115663
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2012.
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| Summary/Abstract |
A number of U.S. states have passed legislation targeting energy efficiency and peak demand reduction. We study one such state, Pennsylvania, within the context of PJM, a regional electricity market covering numerous different states. Our focus is on the distributive impacts of this policy-specifically how the policy is likely to impact electricity prices in different areas of Pennsylvania and in the PJM market more generally. Such spatial differences in policy impacts are difficult to model and the transmission system is often ignored in policy studies. Our model estimates supply curves on a "zonal" basis within regional electricity markets and yields information on price and fuel utilization within each zone. We use the zonal supply curves estimated by our model to study regional impacts of energy-efficiency legislation on utilities both inside and outside of Pennsylvania. For most utilities in Pennsylvania, it would reduce the influence of natural gas on electricity price formation and increase the influence of coal. It would also save 2.1 to 2.8 percent of total energy cost in Pennsylvania in a year similar to 2009. The savings are lower than 0.5 percent in other PJM states and the prices may slightly increase in Washington, DC area.
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| 2 |
ID:
110371
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2011.
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| Summary/Abstract |
One of the policy goals motivating programs to increase renewable energy investment is that renewable electric generation will help reduce emissions of CO2 as well as emissions of conventional pollutants (e.g., SO2 and NOx). As a policy instrument, Renewable Portfolio Standards (RPS) encourage investments in wind, solar and other generation sources with the goal of reducing air emissions from electricity production. Increased electricity production from wind turbines is expected to displace electricity production from fossil-fired plants, thus reducing overall system emissions. We analyze the emissions impacts of incremental investments in utility-scale wind power, on the order of 1 GW beyond RPS goals, in the Western United States using a utility-scale generation dispatch model that incorporates the impacts of transmission constraints. We find that wind investment in some locations leads to slight increases in overall emissions of CO2, SO2 and NOx. The location of wind farms influences the environmental impact by changing the utilization of transmission assets, which affects the overall utilization of power generation sources and thus system-level emissions. Our results suggest that renewable energy policy beyond RPS targets should be carefully crafted to ensure consistency with environmental goals.
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