Integrated Power and Economic Analysis of Austria's Renewable Electricity Transformation

Robert Gaugl, Mark Sommer, Claudia Kettner, Udo Bachhiesl, Thomas Florian Klatzer, Lia Gruber, Michael Böheim, Kurt Kratena and Sonja Wogrin
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Mark Sommer: WIFO
Michael Böheim: Austrian Institute of Economic Research

No 657, WIFO Working Papers from WIFO

Abstract: In this paper, we present a novel approach of linking the technical model of the continental European electricity system ATLANTIS with the macroeconomic model DYNK to provide comprehensive integrated power and socio-economic analyses. We thoroughly describe both models and explain the work that has been done to interlink the models. Further, we take Austria's generation expansion plans to transform the electricity sector to 100 percent renewable energy sources (national balance) by 2030 and analyse the effects of different CO 2 prices on the electricity demand that couples the two models via a feedback loop. As the electricity price and demand are interlaced and influence each other, the linked models are solved iteratively until convergence, i.e., until the change of the electricity demand from the DYNK model does not affect the electricity price in the ATLANTIS model anymore. The results show that coupling a technical and macroeconomic model is possible and convergence is achieved after just a few iterations.

Keywords: Renewable energy; Macroeconomic modelling; Electricity economics; DC-OPF; Model linkage; Austria (search for similar items in EconPapers)
Pages: 22 pages
Date: 2023-01-13
New Economics Papers: this item is included in nep-ene
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:wfo:wpaper:y:2023:i:657

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