In Germany and beyond, various capacity mechanisms are currently being discussed with a view to improving the security of electricity supply. One of these mechanisms is a strategic reserve that retains generation capacity for use in times of critical supply shortage. We argue that strategic reserves have specific advantages compared to other capacity mechanisms in the context of the European energy ...
The EU’s Emissions Trading System (EU ETS) is a regional cap-and-trade program in a world with no binding international climate agreement. This climate regulation may induce a relocation of production away from Europe, with potentially negative consequences for the European economy. This relocation could lead to carbon leakage, i.e. a shift of greenhouse gas emissions from Europe into regions with ...
Globally installed wind power capacity has grown tremendously since 2000. This study focuses on the local economic impacts of wind power deployment. A theoretical model shows that wind power deployment is not necessarily driven by locally-accruing economic payoffs, but also by other factors such as emphasis on environmentally-friendly energy production and its associated benefits. The theoretical analysis ...
Bisher wurden Windkraftanlagen so ausgelegt, dass sie Strom zu möglichst geringen Gesamtkosten erzeugen, unabhängig vom Marktwert dieses Stroms. Mit steigenden Anteilen der Windenergie im Stromsystem fällt der Marktwert von Strom aus Windkraftanlagen, da sie tendenziell zur gleichen Zeit Strom erzeugen. Deswegen wird es in Zukunft wichtig, Anlagen systemdienlich auszulegen, so dass ein größerer Anteil ...
We examine under which conditions a cap-and-trade mechanism can deliver a dynamically efficient abatement pathway and contribute to a robust investment framework. For this we develop a numerical dynamic partial-equilibrium model that includes differentiated objective functions of different market participants for holding emission allowances based on their banking strategy. If the surplus of allowances ...
Die Entscheidung der Organisation erdölexportierender Länder (OPEC) im Herbst 2014, ihre Förderquote trotz des dramatischen Falls der Rohölpreise nicht zu senken, hat diese Gruppe wieder einmal ins Rampenlicht der öffentlichen Diskussion gerückt. Obwohl einige der wichtigsten Ölproduzenten in der OPEC versammelt sind, gibt es allerdings nur eingeschränkt empirische Evidenz, dass die OPEC tatsächlich ...
