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Market and Economic Modelling of the Intelligent Grid: Interim Report 2011

Author

Listed:
  • John Foster

    () (Department of Economics, University of Queensland)

  • Liam Wagner

    () (Department of Economics, University of Queensland)

  • Phil Wild

    () (Department of Economics, University of Queensland)

  • William Paul Bell

    () (Department of Economics, University of Queensland)

  • Junhua Zhao

    (Department of Economics, University of Queensland)

  • Craig Froome

    ()

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 & Phil Wild & William Paul Bell & Junhua Zhao & Craig Froome, 2011. "Market and Economic Modelling of the Intelligent Grid: Interim Report 2011," Energy Economics and Management Group Working Papers 11, School of Economics, University of Queensland, Australia.
  • Handle: RePEc:qld:uqeemg:11
    as

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    File URL: http://www.uq.edu.au/eemg/docs/workingpapers/11.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. Carley, Sanya, 2009. "Distributed generation: An empirical analysis of primary motivators," Energy Policy, Elsevier, vol. 37(5), pages 1648-1659, May.
    3. Dale, Lewis & Milborrow, David & Slark, Richard & Strbac, Goran, 2004. "Total cost estimates for large-scale wind scenarios in UK," Energy Policy, Elsevier, vol. 32(17), pages 1949-1956, November.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. John Foster & William Paul Bell & Craig Froome & Phil Wild & Liam Wagner & Deepak Sharma & Suwin Sandu & Suchi Misra & Ravindra Bagia, 2012. "Institutional adaptability to redress electricity infrastructure vulnerability due to climate change," Energy Economics and Management Group Working Papers 7-2012, School of Economics, University of Queensland, Australia.
    2. Foster, John & Bell, William Paul & Wild, Phillip & Sharma, Deepak & Sandu, Suwin & Froome, Craig & Wagner, Liam & Misra, Suchi & Bagia, Ravindra, 2013. "Analysis of institutional adaptability to redress electricity infrastructure vulnerability due to climate change," MPRA Paper 47787, University Library of Munich, Germany.
    3. Bell, William, 2012. "Reviewing the climate change adaptation readiness of the Australian national electricity market institutions," MPRA Paper 38112, University Library of Munich, Germany, revised 29 Feb 2012.
    4. Bell, William & Foster, John, 2012. "Feed-in tariffs for promoting solar PV: progressing from dynamic to allocative efficiency," MPRA Paper 38861, University Library of Munich, Germany, revised 28 Apr 2012.
    5. Bell, William Paul, 2012. "The impact of climate change on generation and transmission in the Australian national electricity market," MPRA Paper 38111, University Library of Munich, Germany, revised 29 Feb 2012.
    6. 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.

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    More about this item

    Keywords

    Distributed Generation. Energy Economics; Electricity Markets; Renewable Energy;
    All these keywords.

    JEL classification:

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

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    This paper has been announced in the following NEP Reports:

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