Assessment of RES technology market values and the merit-order effect - An econometric multi-country analysis

M. Welisch, A. Ortner, G. Resch

Publikation: Beitrag in FachzeitschriftArtikelBegutachtung

Abstract

This study presents an assessment of both the merit-order effect and the market values of electricity generated from variable renewable energy sources, namely wind and solar photovoltaics. The historical price development in several European countries – that cover 73% of the renewable energy source share in Europe’s regional electricity markets – has been taken into account. To gain insights into the impact of renewable electricity on prices, market values and the merit-order effect were calculated using a multivariate regression analysis and ex-post calculations. All the countries analyzed show a consistent, negative impact of renewable electricity on electricity spot market prices and a decreasing market value of renewable energy source, possibly attributable to increased shares. The coefficients are economically and statistically significant. This study provides insights into a large geographical spread of European electricity markets, enables a comparison between countries, and therefore has valuable implications for policy makers.
OriginalspracheEnglisch
Seiten (von - bis)105 - 121
Seitenumfang17
FachzeitschriftEnergy and Environment
Volume27
Issue1
DOIs
PublikationsstatusVeröffentlicht - Feb. 2016

Research Field

  • Ehemaliges Research Field - Integrated Energy Systems

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