Imperial College London
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Dr Krista Halttunen

Faculty of Natural Sciences, Centre for Environmental Policy

Visiting Researcher
 
 
 
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Contact

 

krista.halttunen17

 
 
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Location

 

16 Prince's GardensSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@unpublished{Halttunen:2020:10.2139/ssrn.3741232,
author = {Halttunen, K and Staffell, I and Slade, R and Green, R and Saint-Drenan, Y-M and Jansen, M},
doi = {10.2139/ssrn.3741232},
publisher = {Elsevier},
title = {Global assessment of the merit-order effect and revenue cannibalisation for variable renewable energy},
url = {http://dx.doi.org/10.2139/ssrn.3741232},
year = {2020}
}
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RIS format (EndNote, RefMan)

TY  - UNPB
AB  - The rapid growth of wind and solar power has been a major driver for decarbonisation worldwide. They tend to reduce wholesale electricity prices, both the time-weighted average (the meritorder effect) and their own output-weighted average (price cannibalisation).  Whilst these effects have been widely observed, most previous studies focus on single countries.  Here, we compare 37 electricity markets across Europe, North America, Australia and Japan and explore variations between them.Merit-order and cannibalisation effects are observed in nearly all countries studied. However, only in Germany, Spain, Poland, Portugal, Denmark and California can renewable output explain more than 10% of variation in wholesale electricity prices. The global average meritorder effect is €0.68±€0.54 /MWh per percentage point increase in variable renewable energy penetration, and this falls with higher penetration. Revenues captured by wind farms decrease by 0.23% (€0.16 /MWh) for each percentage point increase of wind penetration and by 1.94% (€0.90 /MWh) for solar PV.
AU  - Halttunen,K
AU  - Staffell,I
AU  - Slade,R
AU  - Green,R
AU  - Saint-Drenan,Y-M
AU  - Jansen,M
DO  - 10.2139/ssrn.3741232
PB  - Elsevier
PY  - 2020///
TI  - Global assessment of the merit-order effect and revenue cannibalisation for variable renewable energy
UR  - http://dx.doi.org/10.2139/ssrn.3741232
UR  - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3741232
UR  - http://hdl.handle.net/10044/1/89020
ER  -
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