 The future of the European electricity system and the impact of fluctuating renewable energy – A scenario analysisStephan Spiecker and Christoph Weber Energy Policy, 2014, vol. 65, issue C, 185-197 Abstract: The ongoing transformation of the European energy system comes along with new challenges, notably increasing amounts of power generation from intermittent sources like wind and solar. How current objectives for emission reduction can be reached in the future and what the future power system will look like is, however, not fully clear. In particular, power plant investments in the long run and power plant dispatch in the short run are subject to considerable uncertainty. Therefore an approach is presented which allows electricity market development to be assessed in the presence of stochastic power feed-in and endogenous investments in power plants and renewable energies. To illustrate the range of possible future developments, five scenarios for the European electricity system up to 2050 are investigated. Both generation investments and dispatch as well as utilization of transmission lines are optimized for these scenarios and additional sensitivity analyses are carried out. Keywords: Integration of renewable energies; Stochastic optimization; Scenario analysis (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:65:y:2014:i:c:p:185-197 DOI: 10.1016/j.enpol.2013.10.032 Access Statistics for this article Energy Policy is currently edited by N. France More articles in Energy Policy from Elsevier |
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