Cost minimization of generation, storage, and new loads, comparing costs with and without externalities

Lance Noel, Joseph F. Brodie, Willett Kempton, Cristina L. Archer and Cory Budischak

Applied Energy, 2017, vol. 189, issue C, 110-121

Abstract: The goal of this research is to understand the economics of anticipated large-scale changes in the electric system. 86 million different combinations of renewable generation (wind and solar), natural gas, and three storage types (hydrogen storage, electric vehicles equipped with vehicle-to-grid (V2G) technology, and building heat) are modeled within the PJM Interconnection. The corresponding electric systems are then operated and constrained to meet the load every hour over four years. The total cost of each energy system is calculated, both with and without externalities, to find the least cost energy systems.

Keywords: Renewable energy; Electric vehicles; Externalities; Vehicle-to-grid; Energy modeling; Renewable integration (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (24)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:189:y:2017:i:c:p:110-121

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DOI: 10.1016/j.apenergy.2016.12.060

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