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Super-Grids and Concentrated Solar Power: A Scenario Analysis with the WITCH Model

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  • Emanuele Massetti

    (Fondazione Eni Enrico Mattei and Centro Euro-Mediterraneo per i Cambiamenti Climatici)

  • Elena Claire Ricci

    (Università degli Studi di Milano and Fondazione Eni Enrico Mattei)

Abstract

We extend the WITCH model to consider the possibility to produce and trade electricity generated by large scale concentrated solar power plants in highly productive areas that are connected to the demand centres through High Voltage Direct Current (HVDC) cables. We find that it becomes optimal to produce with this source only from 2040 and trade from 2050. In the second half of the century, CSP electricity shares become very significant especially when penetration limits are imposed on nuclear power and on carbon capture and storage operations (CCS). Climate policy costs can be reduced by large percentages, up to 66% with respect to corresponding scenarios without the CSP-powered Super-Grid option and with limits on nuclear power and CCS. We also show that MENA countries have the incentive to form a cartel to sell electricity to Europe at a price higher than the marginal cost. Therefore we advocate the institution of an international agency with the role to regulate a hypothetic Mediterranean electricity market.

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Bibliographic Info

Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2011.47.

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Date of creation: Jun 2011
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Handle: RePEc:fem:femwpa:2011.47

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Keywords: Climate Policy; Integrated Assessment; Renewable Energy; Concentrated Solar Power; Power Grid; Electricity Trade;

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  1. Neij, Lena, 2008. "Cost development of future technologies for power generation--A study based on experience curves and complementary bottom-up assessments," Energy Policy, Elsevier, vol. 36(6), pages 2200-2211, June.
  2. Martin L. Weitzman, 2011. "Additive Damages, Fat-Tailed Climate Dynamics, and Uncertain Discounting," NBER Chapters, in: The Economics of Climate Change: Adaptations Past and Present, pages 23-46 National Bureau of Economic Research, Inc.
  3. Wiser, Ryan H., 2007. "Using contingent valuation to explore willingness to pay for renewable energy: A comparison of collective and voluntary payment vehicles," Ecological Economics, Elsevier, vol. 62(3-4), pages 419-432, May.
  4. William D. Nordhaus, 1992. "Rolling the 'Dice': An Optimal Transition Path for Controlling Greenhouse Gases," Cowles Foundation Discussion Papers 1019, Cowles Foundation for Research in Economics, Yale University.
  5. Valentina Bosetti & Carlo Carraro & Emanuele Massetti & Massimo Tavoni, 2007. "Optimal Energy Investment and R&D Strategies to Stabilise Greenhouse Gas Atmospheric Concentrations," CESifo Working Paper Series 2133, CESifo Group Munich.
  6. Streeten, Paul & ,, 1982. "First Things First: Meeting Basic Human Needs in Developing Countries," OUP Catalogue, Oxford University Press, number 9780195203691, September.
  7. Valentina Bosetti, Carlo Carraro, Marzio Galeotti, Emanuele Massetti, Massimo Tavoni, 2006. "A World induced Technical Change Hybrid Model," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 13-38.
  8. Carlsson, Fredrik & Kataria, Mitesh & Krupnick, Alan & Lampi, Elina & Lofgren, Asa & Qin, Ping & Chung, Susie & Sterner, Thomas, 2010. "Paying for Mitigation: A Multiple Country Study," Discussion Papers dp-10-12-efd, Resources For the Future.
  9. Bosetti, Valentina & Carraro, Carlo & Massetti, Emanuele & Sgobbi, Alessandra & Tavoni, Massimo, 2009. "Optimal energy investment and R&D strategies to stabilize atmospheric greenhouse gas concentrations," Resource and Energy Economics, Elsevier, vol. 31(2), pages 123-137, May.
  10. Richels, Richard G. & Blanford, Geoffrey J., 2008. "The value of technological advance in decarbonizing the U.S. economy," Energy Economics, Elsevier, vol. 30(6), pages 2930-2946, November.
  11. Herzog, Howard J., 2011. "Scaling up carbon dioxide capture and storage: From megatons to gigatons," Energy Economics, Elsevier, vol. 33(4), pages 597-604, July.
  12. Valentina Bosetti & Emanuele Massetti & Massimo Tavoni, 2007. "The WITCH Model. Structure, Baseline, Solutions," Working Papers 2007.10, Fondazione Eni Enrico Mattei.
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