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The private and social economics of bulk electricity storage

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  • Carson, Richard T.
  • Novan, Kevin

Abstract

The ability to store excess intermittent renewable electricity is increasingly being seen as a key option for integrating large quantities of renewable capacity. However, intermittent energy sources currently account for very small amounts of total generation. Despite this fact, policymakers have begun implementing requirements that will dramatically increase the amount of bulk storage capacity. This paper examines the social benefits provided by bulk storage in the Texas electricity market, which has a large amount of renewable capacity relative to other states, but still quite limited renewable penetration. We focus on the impact of arbitraging electricity across time—a major service of bulk storage. Using current storage technologies, we demonstrate that electricity arbitrage will increase daily CO2 emissions by an average of 0.19 tons for each MWh stored. In addition, daily SO2 emissions will increase by an average of 1.89pounds/MWh while NOX emissions will fall by an average of 0.15pounds/MWh.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 66 (2013)
Issue (Month): 3 ()
Pages: 404-423

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Handle: RePEc:eee:jeeman:v:66:y:2013:i:3:p:404-423

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Web page: http://www.elsevier.com/locate/inca/622870

Related research

Keywords: Renewable electricity; Electricity storage; Air pollution; Energy policy; Environmental policy;

References

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  1. Joshua S. Graff Zivin & Matthew Kotchen & Erin T. Mansur, 2012. "Spatial and Temporal Heterogeneity of Marginal Emissions: Implications for Electric Cars and Other Electricity-Shifting Policies," NBER Working Papers 18462, National Bureau of Economic Research, Inc.
  2. Ramteen Sioshansi & Paul Denholm, 2010. "The Value of Plug-In Hybrid Electric Vehicles as Grid Resources," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 1-24.
  3. Stephen P. Holland & Erin T. Mansur, 2007. "Is Real-Time Pricing Green? The Environmental Impacts of Electricity Demand Variance," NBER Working Papers 13508, National Bureau of Economic Research, Inc.
  4. Walawalkar, Rahul & Apt, Jay & Mancini, Rick, 2007. "Economics of electric energy storage for energy arbitrage and regulation in New York," Energy Policy, Elsevier, vol. 35(4), pages 2558-2568, April.
  5. Denholm, Paul & Sioshansi, Ramteen, 2009. "The value of compressed air energy storage with wind in transmission-constrained electric power systems," Energy Policy, Elsevier, vol. 37(8), pages 3149-3158, August.
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  7. Hitaj, Claudia, 2013. "Wind power development in the United States," Journal of Environmental Economics and Management, Elsevier, vol. 65(3), pages 394-410.
  8. DeCarolis, Joseph F. & Keith, David W., 2006. "The economics of large-scale wind power in a carbon constrained world," Energy Policy, Elsevier, vol. 34(4), pages 395-410, March.
  9. Swift-Hook, Donald T., 2010. "Grid-connected intermittent renewables are the last to be stored," Renewable Energy, Elsevier, vol. 35(9), pages 1967-1969.
  10. Graves, Frank & Jenkin, Thomas & Murphy, Dean, 1999. "Opportunities for Electricity Storage in Deregulating Markets," The Electricity Journal, Elsevier, vol. 12(8), pages 46-56, October.
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