Toward Net Zero in the midst of the energy and climate crises: the response of residential photovoltaic systems

Francesco Piero Colelli (), Enrica De Cian (), Wilmer Pasut () and Lucia Piazza ()
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Francesco Piero Colelli: Department of Economics, University Of Venice CÃ Foscari; CMCC Foundation
Enrica De Cian: Department of Economics, University Of Venice CÃ Foscari; CMCC Foundation
Wilmer Pasut: Department of Environmental Science, Informatics and Statistics, Ca' Foscari, University of Venice
Lucia Piazza: Department of Economics, University Of Venice CÃ Foscari

No 2023:18, Working Papers from Department of Economics, University of Venice "Ca' Foscari"

Abstract: This paper aims to provide insights on potential strategies for a sustainable energy transition amidst market fluctuations. We analyze the impact of PV adoption on electricity consumption during a volatile price time span, leveraging high-frequency consumption data of over 10,000 households in Northern Italy during the period of the 2022 energy crisis. Our findings reveal that PV adoption reduces electricity consumption responsiveness during extreme price and temperature events, enhancing energy security and affordability. Based on estimated demand, we measure changes in consumer surplus, highlighting substantial benefits from PV adoption: the change in the annual consumer surplus due to the 2022 price increase is around 300 euros for the median consumer with no PV and 133 euros when PV is adopted by a comparable median household.

Keywords: electricity demand; solar photovoltaics; energy prices; climate change (search for similar items in EconPapers)
JEL-codes: Q20 Q21 Q41 Q42 Q54 Q55 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2023
New Economics Papers: this item is included in nep-ene and nep-env
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