Capacity Markets versus Energy-Only Markets: A Comparison under Increasing Wind Penetration
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Date
2020-01-07
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We compare the ability to support resource adequacy and revenue sufficiency under two market designs (a capacity market and an energy-only market) under increasing levels of wind energy penetration.~An ideal seven node network with six generators and ten transmission lines provides a test system for our analysis.~Simulations of power market outcomes are evaluated in terms of capacity expansion and revenue sufficiency.
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Policy, Markets, and Computation, market design, multi-stage modeling, wind energy penetration
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10 pages
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Proceedings of the 53rd Hawaii International Conference on System Sciences
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Attribution-NonCommercial-NoDerivatives 4.0 International
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