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Assessing the feasibility of deployment policies in wind energy systems. A sensitivity analysis on a multiequational econometric framework

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  • Quintana-Rojo, Consolación
  • Callejas-Albiñana, Fernando-Evaristo
  • Tarancón, Miguel-Ángel
  • del Río, Pablo

Abstract

The fight against climate change will require the uptake of renewable energy technologies, including wind. However, as with any technological system, whether such deployment will effectively occur depends on the interactions of many variables, whose levels are subject to uncertainty. Therefore, identifying the set of technical, economic and political relationships that characterise the operation of wind generation systems is both an academic and a policy relevant objective. This article proposes a methodology which integrates an econometric model of simultaneous equations with a mathematical optimisation model in order to assess the feasibility of policies under different wind deployment scenarios considered by policy-makers, given the network of technical, economic and political relationships which define the functioning of a sector in a given country. In addition, this methodology quantifies the relevance of the role that each relationship among the variables of the system plays in order to comply with the targets and identifies the key relationships of the system. The method is illustrated with an application to the case of Spain, and the results stress the relevance of several variables and relationships which characterise the whole system.

Suggested Citation

  • Quintana-Rojo, Consolación & Callejas-Albiñana, Fernando-Evaristo & Tarancón, Miguel-Ángel & del Río, Pablo, 2020. "Assessing the feasibility of deployment policies in wind energy systems. A sensitivity analysis on a multiequational econometric framework," Energy Economics, Elsevier, vol. 86(C).
    • Handle: RePEc:eee:eneeco:v:86:y:2020:i:c:s014098832030027x
    DOI: 10.1016/j.eneco.2020.104688
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    References listed on IDEAS

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    Cited by:

    1. Østergaard, P.A. & Lund, H. & Thellufsen, J.Z. & Sorknæs, P. & Mathiesen, B.V., 2022. "Review and validation of EnergyPLAN," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    2. Consolación Quintana-Rojo & Fernando-Evaristo Callejas-Albiñana & Miguel-Ángel Tarancón & Isabel Martínez-Rodríguez, 2020. "Econometric Studies on the Development of Renewable Energy Sources to Support the European Union 2020–2030 Climate and Energy Framework: A Critical Appraisal," Sustainability, MDPI, vol. 12(12), pages 1-26, June.
    3. María-Jesús Gutiérrez-Pedrero & María J. Ruiz-Fuensanta & Miguel-Ángel Tarancón, 2020. "Regional Factors Driving the Deployment of Wind Energy in Spain," Energies, MDPI, vol. 13(14), pages 1-13, July.

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    More about this item

    Keywords

    Wind power; Scenario feasibility; Simultaneous econometric model; Sensitivity analysis; Spain;
    All these keywords.

    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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