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Optimal policy identification: Insights from the German electricity market

Herrmann, Johannes Karl; Savin, Ivan

Abstract:
The diffusion of renewable electricity generating technologies is widely considered as crucial for establishing a sustainable energy system in the future. However, the required transition is unlikely to be achieved by market forces alone. For this reason, many countries implement various policy instruments to support this process, also by re-distributing related costs among all electricity consumers. This paper presents a novel history-friendly agent-based study aiming to explore the efficiency of different mixes of policy instruments by means of a Differential Evolution algorithm. Special emphasis of the model is devoted to the possibility of small scale renewable electricity generation, but also to the storage of this electricity using small scale facilities being actively developed over the last decade. Both combined pose an important instrument for electricity consumers to achieve partial or full autarky from the electricity grid, particularly after accounting for decreasing costs and increasing efficiency of both due to continuous innovation. Among other things, we find that the historical policy mix of Germany introduced too s ... mehr


Zugehörige Institution(en) am KIT Institut für Volkswirtschaftslehre (ECON)
Publikationstyp Forschungsbericht
Jahr 2016
Sprache Englisch
Identifikator DOI(KIT): 10.5445/IR/1000055424
ISSN: 2190-9806
URN: urn:nbn:de:swb:90-554240
KITopen ID: 1000055424
Verlag KIT, Karlsruhe
Umfang 40 S.
Serie Working paper series in economics ; 87
Schlagworte differential evolution; electricity storage; energy grid; feed-in tariff; renewable energy
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