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

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

Energy Economics, 2020, vol. 86, issue C

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.

Keywords: Wind power; Scenario feasibility; Simultaneous econometric model; Sensitivity analysis; Spain (search for similar items in EconPapers)
JEL-codes: C3 C61 Q42 Q48 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:86:y:2020:i:c:s014098832030027x

DOI: 10.1016/j.eneco.2020.104688

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