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This paper examines how enhanced flexibility across space, time, and a regulatory dimension affects the economic costs and CO $$_2$$ 2 emissions of integrating large shares of intermittent renewable energy from wind and solar. We develop a numerical model which resolves hourly dispatch and investment choices among heterogeneous energy technologies...
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... this enables us to not only examine the value or economic benefits of added flexibility at the aggregate (system or EU level) but also to explore the distribution of gains and losses at the country level. Table 6 Our main findings are as follows. First, the potential economic benefits from adding flexibility across space and time are considerable. ...Context 2
... investment cost for an incremental MWh of generation added beyond the level of installed capacity in 2017 (see Sect. 3 for detail). Country codes are defined in Table 6 4 Specifically, we conduct our analysis for a situation where wind and solar account for 70% of total generation. Although higher targets would lead to similar qualitative findings, we deliberately refrain from such an analysis because it raises a host of other important issues beyond the scope of this paper which are related to the design of future electricity markets and would go substantially beyond the current setup of a predominantly "energy-only" market which can be represented in our model (e.g., issues of capacity and flexibility remuneration, resource adequacy, and marginal vs. average cost pricing). ...Context 3
... profit considerably whereas others witness only small improvements. This is mainly due to the Table 6 diverse RE potentials and existing conventional capacity mixes which translate into different potentials for cost savings. Second, some countries see absolute losses compared to the least flexible scenario. ...Context 4
... dash indicates that data for this country and technology were available. Country codes are defined in Table 6 Additional ...Context 5
... dash indicates that data for this country and technology were available. Country codes are explained in Table 6 Technologies Wind Onshore Wind Offshore Solar AT - - - BE - - - CH - - - CZ - - - DE - - - DK - - - ES - GB - FI - DK DK FR - GB - GB - - - IE - GB GB IT - GB - LU BE - BE NL - - - NO - DK DK PL - DE DE PT - GB - SE - DK DK for Poland investment is observed in some cases but the imputed values from Germany seem to be reasonable given the proximity of these countries. ...Citations
... Voice & Accountability reflects perceptions of the extent to which a country's citizens can participate in selecting their government, as well as freedom of expression, freedom of association, and a free media (World Bank, 2023). Carbon emissions reduction has dominated public debate in recent times (Abrell et al., 2022). In jurisdictions where there is freedom of press, the public can express concerns, have an input in environmental governance, and make suggestions on environmental projects (Lavuri et al., 2023;Wang et al., 2023). ...
This study investigates the impact of country governance mechanisms on carbon emissions performance of private sector organisations, using empirical evidence from 336 top multinational entities (MNEs) over a 15-year period. The results show that, at the aggregate level, Control of Corruption (b = − 0.021, p < 0.01) and Voice & Accountability (b = − 0.015, p < 0.05) are significantly and negatively associated with carbon emissions rate. While Political Stability (b = 0.007, p < 0.05) and Government Effectiveness (b = 0.018, p < 0.05) have significant positive impact on carbon emissions rate, the impact of Regulatory Quality and Rule of Law is negative but insignificant. Empirical evidence supports the conclusion that the existing institutional environment is not sufficient to deliver the net zero transition. There is a need for more coordination, strategic planning, and delivery monitoring in government institutions to achieve decarbonisation targets. The study contributes to knowledge within the context of the identified research gaps. First, the study adds to the limited literature on the impact of country governance on carbon emissions reduction, particularly with reference to scope 3 emissions. Second, with the sustainable development goals (SDGs) set to expire by 2030, the study provides empirical evidence on efforts governments of countries are making in achieving decarbonisation targets through improvement in country governance quality. Third, the study shows that the impact of the country governance on the carbon emissions performance of MNEs is contextual and varies across jurisdictions/geographical regions. Finally, the paper contributes to the debate on the actualisation of Agenda 2030, because presenting empirical evidence on the impact of country governance mechanisms on carbon emissions reduction-particularly scope 3 emissions-is an important discourse in the realisation of the SDGs.
... This fixed pool is fully aggregated and marketed for a single purpose at a time, with the result that the flexibility potential of the assets cannot be fully exploited. However, flexibility plays a vital role in the future power system and, therefore, will become more economically viable in the future [20,21]. Hence, it is essential to develop and investigate concepts that exploit the full potential of plant flexibility while meeting the requirements for reliability in providing energy products provided by DERs. ...
The future power system will be characterized by many small decentralized power plants—so-called distributed energy resources (DERs). The integration of these DERs is vital from an economic and grid operation point of view. One approach to this is the aggregation of such DERs. The formation of coalitions as an aggregation method has already been examined in the literature and applied in virtual power plants, active distribution networks, and microgrids. The spread of DERs also increases the need for flexibility and dynamics in the power grid. One approach to address this can be overlapping coalitions. Therefore, in this paper, we first performed an analysis of related work and, in this context, found no work on overlapping coalitions for energy use cases in the literature. We then described a method for dynamic coalition formation, called dynamic coalition in electricity markets (DYCE), and analyzed how DYCE would need to be extended to include overlapping coalition formation. The extension includes the phases of product portfolio optimization and the actual coalition formation. Our analysis of DYCE shows that the methods used for the optimization of the DYCE sub-tasks are not suitable for overlapping coalitions and would have to be replaced by other methods in order to be able to form overlapping coalitions.
