Economics of pooling small local electricity prosumers - LCOE & self-consumption

Renewable and Sustainable Energy Reviews

Volumn 51, Issue , 2015, Pages 718-729

  Kästel, Peter ^a,b   Gilroy Scott, Bryce ^a  

^a Invencardo Ltd   (United Kingdom)

^b Centre for Alternative Technology   (United Kingdom)

Author keywords

Decentralized energy; Energy prosumer; LCOE; Self consumption level

Indexed keywords

COSTS;

CONSUMPTION LEVELS; DECENTRALIZED ENERGY; ENERGY; ENERGY-PROSUME; LEVELIZED COST OF ELECTRICITIES; LOAD PROFILES; PHOTOVOLTAICS; PROSUMER; PROSUMER MODELS; SELF-CONSUMPTION LEVEL;

WIND POWER;

EID: 84937202545     PISSN: 13640321     EISSN: 18790690     Source Type: Journal    
DOI: 10.1016/j.rser.2015.06.057     Document Type: Review

References (96)

1. Shandurkova I, Bremdal BA, Bacher R, Ottesen S, Nilsen A. A prosumer oriented energy market. IMPROSUME: NCE smart energy markets; 2012
2. A. Toffler The third wave 1980 Bantam Books New York
3. PK Narayan, and A. Prasad Electricity consumption - real GDP causality nexus: evidence from a bootstrapped causality test for 30 OECD countries Energy Policy 36 2008 910 918
4. S Shafiee, and E. Topal An econometrics view of worldwide fossil fuel consumption and the role of US Energy Policy 36 2008 775 786
5. TA Yalta, and H. Cakar Energy consumption and economic growth in China: a reconciliation Energy Policy 41 2012 666 675
6. L Zhang-wei, and Z. Xun-gang Study on relationship of energy consumption and economic growth in China Physics Procedia 24 2012 313 319
7. IEA. 2012 Key world energy statistics. "http://www.iea.org": International Energy Agency; 2012.
8. N. Stern What is the economics of climate change? World Econ 7 2006 1 10
9. S Jamet, and J. Corfee-Morlot Assessing the impacts of climate change: a literature review OECD iLibrary 2009 OECD
10. United Kingdom. Climate Change Act 2008. United-Kingdom; 2008.
11. DECC. Electricity: chapter 5. Digest of United Kingdom energy statistics (DUKES); 2012.
12. DECC. Renewable sources of energy: chapter 6. Digest of United Kingdom energy statistics (DUKES); 2012.
13. R. Schleicher-Tappeser How renewables will change electricity markets in the next five years Energy Policy 48 2012 64 75
14. DECC. Weekly solar PV installation & capacity based on registration date; 2014.
15. Ofgem. The feed-in tariff scheme - factsheet Ofgem 2013
16. K Branker, MJM Pathak, and JM. Pearce A review of solar photovoltaic levelized cost of electricity Renewable Sustainable Energy Rev 15 2011 4470 4482
17. J Ondraczek, N Komendantova, and A. Patt WACC the dog: the effect of financing costs on the levelized cost of solar PV power Renewable Energy 75 2015 888 898
18. I. Pawel The cost of storage - how to calculate the levelized cost of stored energy (LCOE) and applications to renewable energy generation Energy Procedia 46 2014 68 77
19. F Ueckerdt, L Hirth, G Luderer, and O. Edenhofer System LCOE: what are the costs of variable renewables? Energy 63 2013 61 75
20. HOMER Energy L. HOMER legacy version 2.81. "http://www.homerenergy.com": HOMER Energy, LLC; 2010.
21. C Kost, T Schlegl, J Thomsen, S Nold, and J. Mayer Study - Levelized cost of electricity renewalbel energies Fraunhofer ISE 2012
22. IRENA. Renewable energy technologies: cost analysis series solar photovoltaics; 2012.
23. L Castro-Santos, GP Garcia, A Estanqueiro, and Justino PAPS. The Levelized Cost of Energy (LCOE) of wave energy using GIS based analysis: the case study of Portugal Int J Electr Power Energy Syst 65 2015 21 25
24. S Reichelstein, and A. Sahoo Time of day pricing and the levelized cost of intermittent power generation Energy Econ 48 2015 97 108
25. O Edenhofer, L Hirth, B Knopf, M Pahl, S Schlömer, E Schmid, and et al. On the economics of renewable energy sources Energy Econ 40 2013 S12 S23
26. GP Swinand, and A. O'Mahoney Estimating the impact of wind generation and wind forecast errors on energy prices and costs in Ireland Renewable Energy 75 2015 468 473
27. T Simão, R Castro, and J. Simão Wind power pricing: from feed-in tariffs to the integration in a competitive electricity market Int J Electr Power Energy Syst 43 2012 1155 1161
28. LM Ayompe, and A. Duffy Feed-in tariff design for domestic scale grid-connected PV systems using high resolution household electricity demand data Energy Policy 61 2013 619 627
29. R Thygesen, and B. Karlsson Simulation and analysis of a solar assisted heat pump system with two different storage types for high levels of PV electricity self-consumption Sol Energy 103 2014 19 27
30. C. Mari The costs of generating electricity and the competitiveness of nuclear power Prog Nucl Energy 73 2014 153 161
31. PD. Lund Boosting new renewable technologies towards grid parity - economic and policy aspects Renewable Energy 36 2011 2776 2784
32. M Ortega, Río Pd, and EA. Montero Assessing the benefits and costs of renewable electricity. The Spanish case Renewable Sustainable Energy Rev 27 2013 294 304
33. DL Talavera, E Muñoz-Cerón, Casa Jdl, MJ Ortega, and G. Almonacid Energy and economic analysis for large-scale integration of small photovoltaic systems in buildings: the case of a public location in Southern Spain Renewable Sustainable Energy Rev 15 2011 4310 4319
34. A Bhattacharya, and S. Kojima Power sector investment risk and renewable energy: a Japanese case study using portfolio risk optimization method Energy Policy 40 2012 69 80
35. K Park, D Shin, and ES. Yoon The cost of energy analysis and energy planning for emerging, fossil fuel power plants based on the climate change scenarios Energy 36 2011 3606 3612
36. ÅG Tveten, TF Bolkesjø, T Martinsen, and H. Hvarnes Solar feed-in tariffs and the merit order effect: a study of the German electricity market Energy Policy 61 2013 761 770
37. J-F Mercure, and P. Salas An assessement of global energy resource economic potentials Energy 46 2012 322 336
38. J-F Mercure, and P. Salas On the global economic potentials and marginal costs of non-renewable resources and the price of energy commodities Energy Policy 63 2013 469 483
39. T. Trainer A critique of Jacobson and Delucchi's proposals for a world renewable energy supply Energy Policy 44 2012 476 481
40. T. Trainer 100% Renewable supply? Comments on the reply by Jacobson and Delucchi to the critique by Trainer Energy Policy 57 2013 634 640
41. A Olson, and R. Jones Chasing grid parity: understanding the dynamic value of renewable energy Electrty J 25 2012 17 27
42. PD Lund, J Lindgren, J Mikkola, and J. Salpakari Review of energy system flexibility measures to enable high levels of variable renewable electricity Renewable Sustainable Energy Rev 45 2015 785 807
43. L Hirth, F Ueckerdt, and O. Edenhofer Integration costs revisited - an economic framework for wind and solar variability Renewable Energy 74 2015 925 939
44. J Cludius, H Hermann, FC Matthes, and V. Graichen The merit order effect of wind and photovoltaic electricity generation in Germany 2008-2016: estimation and distributional implications Energy Econ 44 2014 302 313
45. J. Rivier Abbad Electricity market participation of wind farms: the success story of the Spanish pragmatism Energy Policy 38 2010 3174 3179
46. MA Delucchi, and MZ. Jacobson Providing all global energy with wind, water, and solar power, Part II: Reliability, system and transmission costs, and policies Energy Policy 39 2011 1170 1190
47. MA Delucchi, and MZ. Jacobson Response to A critique of Jacobson and Delucchi's proposals for a world renewable energy supply by Ted Trainer Energy Policy 44 2012 482 484
48. MZ Jacobson, and MA. Delucchi Response to Trainer's second commentary on a plan to power the world with wind, water, and solar power Energy Policy 57 2013 641 643
49. MZ Jacobson, and MA. Delucchi Providing all global energy with wind, water, and solar power, Part I: Technologies, energy resources, quantities and areas of infrastructure, and materials Energy Policy 39 2011 1154 1169
50. G. Wagner Carbon cap and trade. Encyclopedia of energy, natural resource, and environmental economics Energy 2013 1 5
51. Schröder A, Kunz F, Meiss J, Mendelevitch R, Hirschhausen Cv. Current and prospective costs of electricity generation until 2050. German Institute for Economic Research (DIW Berlin Deutsches Institut für Wirtschaftsforschung e.V.); 2013.
52. Kobayashi T. Fukushima cleanup could cost up to $250 billion. Japan Centre for Economic Research; 2011.
53. R. Fouquet Long run trends in energy-related external costs Ecol Econ 70 2011 2380 2389
54. UCS. Nuclear power - still not viable without subsidies. Union of Concerned Scientists; 2011.
55. Küchle S, Meyer B. Was Strom wirklich kostet. Greenpeace Energy e.G. Bundesverband WindEnergie e.V.; 2012.
56. D. Kennedy New nuclear power generation in the UK: cost benefit analysis Energy Policy 35 2007 3701 3716
57. CA. Severance Business risks to utilities as new nuclear power costs escalate Electr J 22 2009 112 120
58. L Holt, P Sotkiewicz, and S. Berg Nuclear power expansion: thinking about uncertainty Electr J 23 2010 26 33
59. SV. Valentine Emerging symbiosis: renewable energy and energy security Renewable Sustainable Energy Rev 15 2011 4572 4578
60. D. Weisser Costing electricity supply scenarios: a case study of promoting renewable energy technologies on Rodriguez, Mauritius Renewable Energy 29 2004 1319 1347
61. Jones J. Unleashing the wind tiger. "http://www.renewableenergyworld.com"; 2010.
62. A Gómez, J Zubizarreta, M Rodrigues, C Dopazo, and N. Fueyo An estimation of the energy potential of agro-industrial residues in Spain Resour Conserv Recycl 54 2010 972 984
63. J. Meikle London's cooking waste to fuel power station Guardian 2013
64. L Hirth, and F. Ueckerdt Redistribution effects of energy and climate policy: the electricity market Energy Policy 62 2013 934 947
65. T. Grau Responsive feed-in tariff adjustment to dynamic technology development Energy Econ 44 2014 36 46
66. JC. Ketterer The impact of wind power generation on the electricity price in Germany Energy Econ 44 2014 270 280
67. M Said, M EL-Shimy, and MA. Abdelraheem Photovoltaics energy: improved modeling and analysis of the levelized cost of energy (LCOE) and grid parity - Egypt case study Sustainable Energy Technol Assess 9 2015 37 48
68. J Hernández-Moro, and JM. Martínez-Duart Analytical model for solar PV and CSP electricity costs: present LCOE values and their future evolution Renewable Sustainable Energy Rev 20 2013 119 132
69. Townsend AK, Webber ME. An integrated analytical framework for quantifying the LCOE of waste-to-energy facilities for a range of greenhouse gas emissions policy and technical factors. Waste Manage32:1366-1377.
70. D Watts, MF Valdés, D Jara, and A. Watson Potential residential PV development in Chile: the effect of net metering and net billing schemes for grid-connected PV systems Renewable Sustainable Energy Rev 41 2015 1037 1051
71. C Paulus, and P Papillon Substations for decentralized solar district heating: design, performance and energy cost Energy Procedia 48 2014 1076 1085
72. DL Talavera, Casa Jdl, E Muñoz-Cerón, and G. Almonacid Grid parity and self-consumption with photovoltaic systems under the present regulatory framework in Spain: the case of the University of Jaén Campus Renewable Sustainable Energy Rev 33 2014 752 771
73. N Ameli, and DM. Kammen Innovations in financing that drive cost parity for long-term electricity sustainability: an assessment of Italy, Europe's fastest growing solar photovoltaic market Energy Sustainable Dev 19 2014 130 137
74. D Masa-Bote, M Castillo-Cagigal, E Matallanas, E Caamaño-Martína, A Gutiérrez, F Monasterio-Huelín, and et al. Improving photovoltaics grid integration through short time forecasting and self-consumption Appl Energy 125 2014 103 113
75. T Lang, E Gloerfeld, and B. Girod Don't just follow the sun - a global assessment of economic performance for residential building photovoltaics Renewable Sustainable Energy Rev 42 2015 932 951
76. E Hittinger, T Wiley, J Kluza, and J. Whitacre Evaluating the value of batteries in microgrid electricity systems using an improved Energy Systems Model Energy Convers Manage 89 2015 458 472
77. From consumer to prosumer Netherland's PowerMatching City shows the way FP Sioshansi, energy efficiency - towards the end of demand growth 2013 Oxford: Academic Press - Elsevier
78. G Ritzer, and N. Jurgenson Production, consumption, prosumption: the nature of capitalism in the age of the digital 'prosumer' J Consum Cult 10 2010 13 36
79. R Velik, and P. Nicolay Energy management in storage-augmented, grid-connected prosumer buildings and neighbourhoods using a modified simulated annealing optimization. Comput Oper Res 2015 in press.
80. R Velik, and P. Nicolay A cognitive decision agent architecture for optimal energy management of microgrids Energy Convers Manage 86 2014 831 847
81. GG Pillai, GA Putrus, T Georgitsioti, and NM. Pearsall Near-term economic benefits from grid-connected residential PV (photovoltaic) systems Energy 68 2014 832 843
82. RenSMART. NOABL Wind Map1.01. "http://www.rensmart.com2013".
83. CEPA. Updates to the feed-in tariffs model documentation of changes made for non-PV technologies. Cambridge Economic Policy Associates Ltd Parsons Brinckerhoff; 2012.
84. IRENA. Renewable energy technologies: cost analysis series wind power; 2012.
85. IRENA. Renewable power generation costs in 2012: an Overview. IRENA; 2013.
86. EST. Solar panels (PV). "http://www.energysavingtrust.org.uk": Energy Savings Trust; 2013.
87. DECC. Windspeed database. Great Britain Department of Energy and Climate Change (DECC); 2013.
88. DECC. Windspeed database: information sheet. Great Britain Department of Energy and Climate Change (DECC); 2013.
89. RenSMART. Site planner. "http://www.rensmart.com2013".
90. MetOffice. Assessment of the difference between NOABL and a Met Office Wind Climatology. "http://www.metoffice.gov.uk": Met Office; 2013.
91. MetOffice. Wind speed: Table 7. 2 Average wind speed and deviations from the long term mean; 2013.
92. NASA. Surface meteorology and solar Energy; 2013.
93. Elexon. The electricity trading arrangements: a beginner's guide. Elexon Ltd.; 2012.
94. J Widén, N Carpman, V Castellucci, D Lingfors, J Olauson, F Remouit, and et al. Variability assessment and forecasting of renewables: a review for solar, wind, wave and tidal resources Reviews 44 2015 356 375
95. DJ Cannon, DJ Brayshaw, J Methven, PJ Coker, and D. Lenaghan Using reanalysis data to quantify extreme wind power generation statistics: a 33 year case study in Great Britain Renewable Energy 75 2015 767 778
96. ML Kubik, DJ Brayshaw, PJ Coker, and JF. Barlow Exploring the role of reanalysis data in simulating regional wind generation variability over Northern Ireland Renewable Energy 57 2013 558 561