/pdf/why-the-sustainable-provision-of-low-carbon-electricity-348w6gsk.pdf

Why the sustainable provision of low-carbon electricity needs hybrid markets

The present article sets out to examine the connection between energy transition and factors associated with renewable energy sources, buildings and other sectors, placing emphasis on France. The methodology includes: Collection of scholarly writings, classification, identification of research questions, bibliographic analysis, identification of important findings, discussion. The results of a study (EDF, Le nucléaire en chiffres) demonstrated that, in 2019, around 80% of the electricity production from nuclear energy (in France) was provided by 4 regions: Auvergne-Rhône-Alpes, Grand Est, Centre-Val de Loire, Normandie. France has a high dependence on nuclear power generation and, for this reason, renewable-energy penetration is an imperative part of the French energy transition. Numerous studies show that energy transition requires actions based on burgeoning and avant-garde technologies, and effective policies. Moreover, energy transition poses challenges: decisions on nuclear power plants, sustainable development of small-island economies, etc. A discussion on the energy transition in Corsica (France) is also provided. Regarding the French overseas territories Corse (Corsica), Guadeloupe, Martinique, Guyane, Mayotte, Réunion, the findings of a study (Rakotoson and Praene, 2017) demonstrate that thanks to renewable energy sources/network interconnection, Corsica and French Guiana have lower emissions in comparison to the other territories: 0.505 and 0.373 kg CO2.eq/kWhe, respectively. 

Renewable energy sources as a catalyst for energy transition: Technological innovations and an example of the energy transition in France

The evolution towards smart grids (SGs) is mainly characterized by the integration of renewable energy sources (RESs) throughout the grid. The intermittent nature of these sources necessitated the installation of energy storage systems (ESSs) to improve the efficiency and reliability in the power system. Moreover, the ongoing high price of batteries has encouraged the installation of shared ESSs in residential communities. However, managing the shared ESS and the energy flows in the community is considered a key challenge. In order to handle this issue, we introduce a novel energy management system (EMS), namely Energy Management In residential COmmunities with shared storage based on multi-agent systems (EMICO). It finds the optimal energy trading operations between households, as well as the operations of the shared ESS that minimize the total energy losses. We first propose a new cluster-based architecture for the residential community in which we integrate Internet of Energy (IoE) devices to manage energy flows and find the shortest path to transfer energy with minimal loss from a cluster to the other. Then, we model our energy management problem as a constrained optimization problem and we use Lagrange multiplier method to solve it in a centralized way. In order to preserve households’ privacy, we propose a decentralized approach based on multi-agent systems (MASs) to solve our problem. We test our approach on real data traces obtained from a set of households located in the United Kingdom. Numerical results show that EMICO outperforms a literature approach in terms of energy losses (up to 35.66% of reduction in energy losses), electricity bill (up to 21.21% cheaper), number of exchanged messages (up to 83.81% less messages exchanged), and length of required cables (up to 95.03% less cables required). 

Energy management in residential communities with shared storage based on multi-agent systems: Application to smart grids

Assessing the impact of battery storage on Australian electricity markets

Pricing forward contracts in power markets with variable renewable energy sources

The dependence of quantile power prices on supply from renewables

The large-scale integration of renewable energy sources requires flexibility from power markets in the sense that the latter should quickly counterbalance the renewable supply variation driven by weather conditions. Most power markets cannot (yet) provide this flexibility effectively as they suffer from inelastic demand and insufficient flexible storage capacity. Research accordingly shows that the volume of renewable energy in the supply system affects the mean and volatility of power prices. We extend this view and show that the level of wind and solar energy supply affects the tails of the electricity price distributions as well, and that it does so asymmetrically. The higher the supply from wind and solar energy sources, the fatter the left tail of the price distribution and the thinner the right tail. This implies that one cannot rely on symmetric price distributions for risk management and for valuation of (flexible) power assets. The evidence in this paper suggests that we have to rethink the methods of subsidizing variable renewable supply such that they take also into consideration the flexibility needs of power markets.

Fat Tails due to Variable Renewables and Insufficient Flexibility

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Pricing forward contracts in power markets with variable renewable energy sources

The dependence of quantile power prices on supply from renewables

Fat Tails due to Variable Renewables and Insufficient Flexibility