Market and Economic Modelling of the Intelligent Grid: End of Year Report 2009
AbstractThe overall goal of Project 2 has been to provide a comprehensive understanding of the impacts of distributed energy (DG) on the Australian Electricity System. The research team at the UQ Energy Economics and Management Group (EEMG) has constructed a variety of sophisticated models to analyse the various impacts of significant increases in DG. These models stress that the spatial configuration of the grid really matters - this has tended to be neglected in economic discussions of the costs of DG relative to conventional, centralized power generation. The modelling also makes it clear that efficient storage systems will often be critical in solving transient stability problems on the grid as we move to the greater provision of renewable DG. We show that DG can help to defer of transmission investments in certain conditions. The existing grid structure was constructed with different priorities in mind and we show that its replacement can come at a prohibitive cost unless the capability of the local grid to accommodate DG is assessed very carefully.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by School of Economics, University of Queensland, Australia in its series Energy Economics and Management Group Working Papers with number 09.
Date of creation: Dec 2011
Date of revision:
Distributed Generation. Energy Economics; Electricity Markets; Renewable Energy;
Find related papers by JEL classification:
- Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- A. Denny Ellerman & Ian Sue Wing, 2000. "Supplementarity: An Invitation to Monopsony?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 29-59.
- Paolella, Marc S. & Taschini, Luca, 2008. "An econometric analysis of emission allowance prices," Journal of Banking & Finance, Elsevier, vol. 32(10), pages 2022-2032, October.
- Dotsis, George & Psychoyios, Dimitris & Skiadopoulos, George, 2007. "An empirical comparison of continuous-time models of implied volatility indices," Journal of Banking & Finance, Elsevier, vol. 31(12), pages 3584-3603, December.
- Fabien A. Roques & William J. Nuttall & David M. Newbery & Richard de Neufville & Stephen Connors, 2006.
"Nuclear Power: A Hedge against Uncertain Gas and Carbon Prices?,"
The Energy Journal,
International Association for Energy Economics, vol. 0(Number 4), pages 1-24.
- Roques, F.A. & Nuttall, W.J. & Newbery, D.M. & de Neufville, R., 2005. "Nuclear Power: a Hedge against Uncertain Gas and Carbon Prices?," Cambridge Working Papers in Economics 0555, Faculty of Economics, University of Cambridge.
- Klepper, Gernot & Peterson, Sonja, 2006.
"Marginal abatement cost curves in general equilibrium: The influence of world energy prices,"
Resource and Energy Economics,
Elsevier, vol. 28(1), pages 1-23, January.
- Gernot Klepper & Sonja Peterson, 2004. "Marginal Abatement Cost Curves in General Equilibrium: The Influence of World Energy Prices," Working Papers 2004.136, Fondazione Eni Enrico Mattei.
- Klepper, Gernot & Peterson, Sonja, 2006. "Marginal abatement cost curves in general equilibrium: The influence of world energy prices," Open Access Publications from Kiel Institute for the World Economy 3775, Kiel Institute for the World Economy (IfW).
- repec:cup:cbooks:9780521744447 is not listed on IDEAS
- Bouffard, François & Kirschen, Daniel S., 2008. "Centralised and distributed electricity systems," Energy Policy, Elsevier, vol. 36(12), pages 4504-4508, December.
- Yang, Ming & Blyth, William & Bradley, Richard & Bunn, Derek & Clarke, Charlie & Wilson, Tom, 2008. "Evaluating the power investment options with uncertainty in climate policy," Energy Economics, Elsevier, vol. 30(4), pages 1933-1950, July.
- Chen, Wenying, 2005. "The costs of mitigating carbon emissions in China: findings from China MARKAL-MACRO modeling," Energy Policy, Elsevier, vol. 33(7), pages 885-896, May.
- Roques, Fabien A. & Newbery, David M. & Nuttall, William J., 2008. "Fuel mix diversification incentives in liberalized electricity markets: A Mean-Variance Portfolio theory approach," Energy Economics, Elsevier, vol. 30(4), pages 1831-1849, July.
- Atsushi Kurosawa & Hiroshi Yagita & Weisheng Zhou & Koji Tokimatsu & Yukio Yanagisawa, 1999. "Analysis of Carbon Emission Stabilization Targets and Adaptation by Integrated Assessment Model," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 157-175.
- Arthur van Benthem & Kenneth Gillingham & James Sweeney, 2008. "Learning-by-Doing and the Optimal Solar Policy in California," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 131-152.
- Gitelman, Gary, 2002. "Use of Real Options in Asset Valuation," The Electricity Journal, Elsevier, vol. 15(9), pages 58-71, November.
- Anderson, Kevin & Bows, Alice & Mander, Sarah, 2008. "From long-term targets to cumulative emission pathways: Reframing UK climate policy," Energy Policy, Elsevier, vol. 36(10), pages 3714-3722, October.
- Holtsmark, Bjart & Maestad, Ottar, 2002. "Emission trading under the Kyoto Protocol--effects on fossil fuel markets under alternative regimes," Energy Policy, Elsevier, vol. 30(3), pages 207-218, February.
- Mujeebu, M.A. & Jayaraj, S. & Ashok, S. & Abdullah, M.Z. & Khalil, M., 2009. "Feasibility study of cogeneration in a plywood industry with power export to grid," Applied Energy, Elsevier, vol. 86(5), pages 657-662, May.
- Geoffrey Rothwell, 2006. "A Real Options Approach to Evaluating New Nuclear Power Plants," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 87-54.
- Laurikka, Harri, 2006. "Option value of gasification technology within an emissions trading scheme," Energy Policy, Elsevier, vol. 34(18), pages 3916-3928, December.
- Johan Eyckmans & Denise Van Regemorter & Vincent van Steenberghe, 2001. "Is Kyoto fatally flawed? An analysis with MacGEM," Energy, Transport and Environment Working Papers Series ete0118, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Energy, Transport and Environment.
- Kumbaroglu, Gürkan & Madlener, Reinhard & Demirel, Mustafa, 2008.
"A real options evaluation model for the diffusion prospects of new renewable power generation technologies,"
Elsevier, vol. 30(4), pages 1882-1908, July.
- Gürkan Kumbaroglu & Reinhard Madlener & Mustafa Demirel, 2004. "A Real Options Evaluation Model for the Diffusion Prospects of New Renewable Power Generation Technologies," CEPE Working paper series 04-35, CEPE Center for Energy Policy and Economics, ETH Zurich.
- Benz, Eva & Trück, Stefan, 2009. "Modeling the price dynamics of CO2 emission allowances," Energy Economics, Elsevier, vol. 31(1), pages 4-15, January.
- GERALD R. BEMIS & MICHAEL DoANGELIS, 1990. "Levelized Cost Of Electricity Generation Technologies," Contemporary Economic Policy, Western Economic Association International, vol. 8(3), pages 200-214, 07.
- van den Heuvel, Stijn T.A. & van den Bergh, Jeroen C.J.M., 2009. "Multilevel assessment of diversity, innovation and selection in the solar photovoltaic industry," Structural Change and Economic Dynamics, Elsevier, vol. 20(1), pages 50-60, March.
- Gulli, Francesco, 2006. "Small distributed generation versus centralised supply: a social cost-benefit analysis in the residential and service sectors," Energy Policy, Elsevier, vol. 34(7), pages 804-832, May.
- Jean-Marc Burniaux, 2000. "A Multi-Gas Assessment of the Kyoto Protocol," OECD Economics Department Working Papers 270, OECD Publishing.
- Daskalakis, George & Psychoyios, Dimitris & Markellos, Raphael N., 2009. "Modeling CO2 emission allowance prices and derivatives: Evidence from the European trading scheme," Journal of Banking & Finance, Elsevier, vol. 33(7), pages 1230-1241, July.
- Jensen, S. G. & Skytte, K., 2002. "Interactions between the power and green certificate markets," Energy Policy, Elsevier, vol. 30(5), pages 425-435, April.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Randal Anderson).
If references are entirely missing, you can add them using this form.