Engineering
7 years ago

Revolutionizing Electricity Markets: Design Changes Impacting Renewable Energy Integration

IEEE Power and Energy Magazine
Electricity Markets and Renewables: A Survey of Potential Design Changes and Their Consequences
Erik Ela, Congcong Wang, Sai Moorty, Kenneth Ragsdale, Jon O'Sullivan, M. Rothleder, Benjamin F. Hobbs

Paper Summary

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Electricity markets are complex because electricity can't be stored like other goods. To manage this, countries have restructured their electricity sectors with wholesale markets. These markets allow suppliers to compete in providing energy, reliability services, financial services, and sometimes capacity. This restructuring has been a dynamic process.