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Market and Economic Modelling of the Intelligent Grid: 1st Interim Report 2009

Author

Listed:
  • John Foster

    () (Department of Economics, University of Queensland)

  • Liam Wagner

    () (Department of Economics, University of Queensland)

  • Ariel Liebman

    () (Department of Economics, University of Queensland)

Abstract

The 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.

Suggested Citation

  • John Foster & Liam Wagner & Ariel Liebman, 2011. "Market and Economic Modelling of the Intelligent Grid: 1st Interim Report 2009," Energy Economics and Management Group Working Papers 08, School of Economics, University of Queensland, Australia.
  • Handle: RePEc:qld:uqeemg:08
    as

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    File URL: http://www.uq.edu.au/eemg/docs/workingpapers/08.pdf
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    References listed on IDEAS

    as
    1. Deng, S.J. & Oren, S.S., 2006. "Electricity derivatives and risk management," Energy, Elsevier, vol. 31(6), pages 940-953.
    2. El-Kordy, M.N & Badr, M.A & Abed, K.A & Ibrahim, Said M.A, 2002. "Economical evaluation of electricity generation considering externalities," Renewable Energy, Elsevier, vol. 25(2), pages 317-328.
    3. Pepermans, G. & Driesen, J. & Haeseldonckx, D. & Belmans, R. & D'haeseleer, W., 2005. "Distributed generation: definition, benefits and issues," Energy Policy, Elsevier, vol. 33(6), pages 787-798, April.
    4. Huber, Claus & Ryan, Lisa & O Gallachoir, Brian & Resch, Gustav & Polaski, Katrina & Bazilian, Morgan, 2007. "Economic modelling of price support mechanisms for renewable energy: Case study on Ireland," Energy Policy, Elsevier, vol. 35(2), pages 1172-1185, February.
    5. Shum, Kwok L. & Watanabe, Chihiro, 2007. "Photovoltaic deployment strategy in Japan and the USA--an institutional appraisal," Energy Policy, Elsevier, vol. 35(2), pages 1186-1195, February.
    6. Tsikalakis, A.G. & Hatziargyriou, N.D., 2007. "Environmental benefits of distributed generation with and without emissions trading," Energy Policy, Elsevier, vol. 35(6), pages 3395-3409, June.
    7. Drennen, Thomas E & Erickson, Jon D & Chapman, Duane, 1996. "Solar power and climate change policy in developing countries," Energy Policy, Elsevier, vol. 24(1), pages 9-16, January.
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    Citations

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    Cited by:

    1. Foster, John & Wagner, Liam & Liebman, Ariel, 2017. "Economic and investment models for future grids: Final Report Project 3," MPRA Paper 78866, University Library of Munich, Germany.

    More about this item

    Keywords

    Distributed Generation. Energy Economics; Electricity Markets; Renewable Energy;

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General

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