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Optimal Energy Portfolios in the Electricity Sector: Trade-Offs and Interplay Between Different Flexibility Options

In: The Future European Energy System

Author

Listed:
  • Steffi Schreiber

    (Chair of Energy Economics, Technische Universität Dresden)

  • Christoph Zöphel

    (Chair of Energy Economics, Technische Universität Dresden)

  • Dominik Möst

    (Chair of Energy Economics, Technische Universität Dresden)

Abstract

The expansion of renewable energy sources (RES) and the electrification of demand side sectors raise the need for power system flexibility. The following model-based analysis illustrates the complexity of the European energy system transformation with pathways regarding the RES expansion, sector coupling, and different levels of flexibility provision. Differences occur concerning the optimal mix of flexibility options between the moderate and ambitious climate target scenarios. Dispatchable back-up capacities are necessary, also in presence of high RES shares. Here, CO2 prices influence the role of low-carbon technologies. Due to cross-sectoral interactions, energy storages have a limited value. For the ambitious scenarios, the emission reductions come close to the Green Deal targets of the European Commission, while levelized costs of electricity increase moderately compared to the less ambitious scenario.

Suggested Citation

  • Steffi Schreiber & Christoph Zöphel & Dominik Möst, 2021. "Optimal Energy Portfolios in the Electricity Sector: Trade-Offs and Interplay Between Different Flexibility Options," Springer Books, in: Dominik Möst & Steffi Schreiber & Andrea Herbst & Martin Jakob & Angelo Martino & Witold-Roger Pogan (ed.), The Future European Energy System, chapter 0, pages 177-198, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-60914-6_10
    DOI: 10.1007/978-3-030-60914-6_10
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    Cited by:

    1. Misconel, Steffi & Zöphel, Christoph & Möst, Dominik, 2021. "Assessing the value of demand response in a decarbonized energy system – A large-scale model application," Applied Energy, Elsevier, vol. 299(C).
    2. Finke, Jonas & Bertsch, Valentin, 2023. "Implementing a highly adaptable method for the multi-objective optimisation of energy systems," Applied Energy, Elsevier, vol. 332(C).
    3. Prina, Matteo Giacomo & Nastasi, Benedetto & Groppi, Daniele & Misconel, Steffi & Garcia, Davide Astiaso & Sparber, Wolfram, 2022. "Comparison methods of energy system frameworks, models and scenario results," Renewable and Sustainable Energy Reviews, Elsevier, vol. 167(C).
    4. Tobias Junne & Karl-Kiên Cao & Kim Kira Miskiw & Heidi Hottenroth & Tobias Naegler, 2021. "Considering Life Cycle Greenhouse Gas Emissions in Power System Expansion Planning for Europe and North Africa Using Multi-Objective Optimization," Energies, MDPI, vol. 14(5), pages 1-26, February.
    5. Misconel, S. & Leisen, R. & Mikurda, J. & Zimmermann, F. & Fraunholz, C. & Fichtner, W. & Möst, D. & Weber, C., 2022. "Systematic comparison of high-resolution electricity system modeling approaches focusing on investment, dispatch and generation adequacy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 153(C).

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