Performance comparison of renewable incentive schemes using optimal control

Energy

Volumn 64, Issue , 2014, Pages 44-57

  Oak, Neeraj ^a   Lawson, Daniel ^a   Champneys, Alan ^a  

^a UNIVERSITY OF BRISTOL   (United Kingdom)

Author keywords

Contract for difference; Feed in tariff; Incentive schemes; Renewable energy; Renewable obligations; Subsidy

Indexed keywords

ELECTRIC UTILITIES; INDUSTRY; MATHEMATICAL MODELS; OPTIMAL CONTROL SYSTEMS; RENEWABLE ENERGY RESOURCES;

CONTRACT FOR DIFFERENCES; FEED-IN TARIFF; INCENTIVE SCHEMES; RENEWABLE ENERGIES; RENEWABLE OBLIGATIONS; SUBSIDY;

RENEWABLE ENERGY RESOURCES; INVESTMENTS;

COMPARATIVE STUDY; ELECTRICITY GENERATION; NUMERICAL MODEL; PERFORMANCE ASSESSMENT; RENEWABLE RESOURCE; STATE ROLE; CARBON EMISSION; SUBSIDY SYSTEM;

UNITED KINGDOM;

EID: 84891488723     PISSN: 03605442     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.energy.2013.11.038     Document Type: Article

References (56)

1. Dunlap R.E., Scarce R. Poll trends: environmental problems and protection. The Public Opin Q 1991, 55(4):651-672.
2. Gardner P., Garrad A., Hansen L.F., Jamieson P., Morgan C., Murray F., et al. Wind energy - the facts 2009, European Wind Energy Association (EWEA).
3. Mitchell C., Bauknecht D., Connor P. Effectiveness through risk reduction: a comparison of the renewable obligation in england and wales and the feed-in system in germany. Energy Policy 2006, 34(3):297-305.
4. Lesser J.A., Su X. Design of an economically efficient feed-in tariff structure for renewable energy development. Energy Policy 2008, 36(3):981-990.
5. Fischer C., Newell R. Environmental and technology policies for climate mitigation. JEnviron Econ Manag 2008, 55:142-162. journal paper is an update of earlier discussion paper, Fischer Newell 2004.
6. United Nations Kyoto protocol to the United Nations framework convention on climate change 1998, article 17, p. 15.
7. Ofgem: UK Energy Regulatory body Renewables obligation: guidance for generators 2011, 1-3.
8. UK department of energy and climate change (DECC) Electricity market reform white paper 2011, p. 39, renamed- Planning our electric future: a White Paper for secure, affordable and low-carbon electricity.
9. Stern N. Economics of climate change: the Stern review 2007, Ch. 16, p. 367.
10. Kristiansen T. Pricing of contracts for difference in the nordic market. Energy Policy 2004, 32(9):1075-1085.
11. Jamasb T., Köhler J. Delivering a low carbon electricity system: technologies, economics and policy 2007, Ch. 'Learning Curves for Energy Technology'.
12. Yelle L.E. The learning curve: historical review and comprehensive survey. Decis Sci 1979, 10(2):302-328.
13. Lieberman M.B. The learning curve and pricing in the chemical processing industries. The RAND J Econ 1984, 15(2):213-228.
14. Goldemberg J., Coelho S.T., Nastari P.M., Lucon O. Ethanol learning curvethe brazilian experience. Biomass Bioenergy 2004, 26(3):301-304.
15. Mishina K. Learning by doing in markets, firms and countries 1999, University of Chicago Press, Ch. Learning by New Experiences: Revisiting the Flying Fortress Learning Curve.
16. Baloff N. Extension of the learning curve - some empirical results. Ope Res Q (1970-1977) 1971, 22(4):329-340.
17. Pickering A. Renewable energy and learning curves: a review of the economics literature 2010, forthcoming.
18. UK Committee on Climate Change (CCC) Building a low-carbon economy - the UK's contribution to tackling climate change 2008.
19. Sauma E., Oren S. Proactive planning and valuation of transmission investments in restructured electricity markets. JRegul Econ 2006, 30:261-290. URL. http://dx.doi.org/10.1007/s11149-006-9003-y.
20. Sauma E., Oren S. Economic criteria for planning transmission investment in restructured electricity markets. Power Syst IEEE Trans 2007, 22(4):1394-1405.
21. Sauma E., Oren S. Do generation firms in restructured electricity markets have incentives to support social-welfare-improving transmission investments?. Energy Econ 2009, 31(5):676-689. URL. http://www.sciencedirect.com/science/article/pii/S0140988309000218.
22. Pozo D., Contreras J., Sauma E. If you build it, he will come: anticipative power transmission planning. Energy Econ 2013, 36(C):135-146.
23. Pozo D., Sauma E.E., Contreras J. Athree-level static milp model for generation and transmission expansion planning. IEEE Trans Power Deliv 2013, 28(1):202-210.
24. Sauma E., Jerardino S., Barria C., Marambio R., Brugman A., Meja J. Electric-systems integration in the Andes community: opportunities and threats. Energy Policy 2011, 39(2):936-949. URL. http://www.sciencedirect.com/science/article/pii/S0301421510008438.
25. Thompson J.M.T., Stewart H.B. Nonlinear dynamics and chaos 2002, John Wiley and Sons. 2nd ed.
26. Murray J.D. Mathematical biology: spatial models and biomedical applications 2003, vol. 2. Springer. 3rd ed.
27. Strogatz S.H. Nonlinear dynamics and chaos: with applications to physics, biology, chemistry, and engineering 1994, Westview Press.
28. Kuang Y. Delay differential equations: with applications in population dynamics 1993, Academic Press.
29. Øksendal B.K. Stochastic differential equations: an introduction with applications 2003, Springer. 6th ed.
30. Lantz E., Hand M., Wiser R. The past and future cost of wind energy 2012, World Renewable Energy Forum.
31. Callaghan J. Future marine energy 2006, Carbon Trust.
32. UK Department for Environment, Food and Rural Affairs (DEFRA) Fuel poverty in England: the government's plan for action 2004.
33. UK National Grid Grid code 2011, p. PF-1.
34. Goto M., Karolyi G.A. Understanding electricity price volatility within and across markets 2004, Dice Center working paper.
35. Smith W. On the simulation and estimation of the mean-reverting Ornstein-Uhlenbeck process 2010, forthcoming.
36. Gillespie D.T. Exact numerical simulation of the Ornstein-Uhlenbeck process and its integral. Phys Rev E 1996, 54:2084-2091.
37. Barndorff-Nielsen O.E., Shephard N. Non-Gaussian Ornsteinuhlenbeck-based models and some of their uses in financial economics. JR Stat Soc Ser B (Stat Methodol) 2001, 63(2):167-241.
38. Vaggi G. The new Palgrave Dictionary of economics 2008, Ch. Natural price.
39. Encyclopaedia Britannica Inc Encyclopaedia Britannica online 2012, Ch. Darwinian fitness.
40. Hofbauer J., Sigmund K. Evolutionary games and population dynamics 1998, Cambridge University Press.
41. Torczon V. On the convergence of pattern search algorithms. Soc Ind Appl Math (SIAM) J Optim 1997, 7:1-25.
42. Audet C., Dennis J.E. Analysis of generalized pattern searches. Soc Ind Appl Math (SIAM) J Optim 2000, 13:889-903.
43. Forrest S., Mitchell M. What makes a problem hard for a genetic algorithm? some anomalous results and their explanation. Mach Learn 1993, 13:285-319.
44. Mitchell M. Complexity: a guided tour 2009, Oxford University Press.
45. UK Department of energy and climate change (DECC) Review of the generation costs and deployment potential of renewable electricity technologies in the UK 2011.
46. Sinclair Knight Merz Quantification of constraints on the growth of UK renewable generating capacity 2008.
47. Her Majesty's Government (UK) 2008 Energy act 2008.
48. Carbon Trust Future marine energy 2011.
49. Grossman G.M., Helpman E. Endogenous innovation in the theory of growth. JEcon Perspect 1994, 8(1):23-44.
50. UK department of energy and climate change (DECC) UK renewable energy roadmap 2011.
51. New energy externalities developments for sustainability (NEEDS) Cost development an analysis based on experience curves 2006.
52. Short W., Packey D.J., Holt T. Amanual for the economic evaluation of energy efficiency and renewable energy technologies 1995, US National Renewable Energy Laboratory (NREL).
53. Heptonstall P. Areview of electricity unit cost estimates, on behalf of the UK Energy Research Centre (UKERC) 2007.
54. Ernst, Young Impact of banding the renewables obligation - costs of electricity, on behalf of the UK department of trade and industry 2007.
55. Sinclair Knight Merz Growth scenarios for UK renewables generation and implications for future developments and operation of electricity networks, on behalf of the UK BERR 2008.
56. Gross R., Heptonstall P., Anderson D., Green T., Leach M., Skea J. The costs and impacts of intermittency: an assessment of the evidence on the costs and impacts of intermittent generation on the British electricity network, on behalf of the UK Energy Research Centre (UKERC) 2006.