Optimal Energy Portfolios in the Electricity Sector: Trade-Offs and Interplay Between Different Flexibility Options

Steffi Schreiber, Christoph Zöphel and Dominik Möst ()
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Steffi Schreiber: Chair of Energy Economics, Technische Universität Dresden
Christoph Zöphel: Chair of Energy Economics, Technische Universität Dresden
Dominik Möst: Chair of Energy Economics, Technische Universität Dresden

Chapter Chapter 10 in The Future European Energy System, 2021, pp 177-198 from Springer

Abstract: Abstract The expansion of renewable energy sources (RES) and the electrification of demand side sectors raise the need for power system flexibility. The following model-based analysis illustrates the complexity of the European energy system transformation with pathways regarding the RES expansion, sector coupling, and different levels of flexibility provision. Differences occur concerning the optimal mix of flexibility options between the moderate and ambitious climate target scenarios. Dispatchable back-up capacities are necessary, also in presence of high RES shares. Here, CO2 prices influence the role of low-carbon technologies. Due to cross-sectoral interactions, energy storages have a limited value. For the ambitious scenarios, the emission reductions come close to the Green Deal targets of the European Commission, while levelized costs of electricity increase moderately compared to the less ambitious scenario.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-60914-6_10

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DOI: 10.1007/978-3-030-60914-6_10

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