NDLI: Valuing large-scale solar photovoltaics in future electricity generation portfolios and its implications for energy and climate policies

Content Provider	IET Digital Library
Author	Vithayasrichareon, Peerapat Gill, Iain F. Mac
Abstract	This study examines the potential role of large-scale photovoltaics (PV) generation in addressing the economic, energy security and environmental challenges facing the electricity industry. A Monte-Carlo-based generation portfolio modelling tool is employed to examine the value and impacts of different PV penetrations in future electricity generation portfolios under future uncertainty and multiple industry objectives of minimising expected future costs, cost uncertainty and CO2 emissions. The Australian National Electricity Market (NEM) facing highly uncertain future fossil-fuel prices, carbon price, plant capital costs and electricity demand was used as a case study. Hourly PV generations across diverse locations were simulated for different penetration levels. Modelling results show that, with relatively modest carbon prices, increased PV penetration leads to not only reductions in cost uncertainties and greenhouse gas emissions, but also the overall industry generation costs. This would greatly enhance the value and thus encourage investment in large-scale solar PV, even when the transmission cost estimates were included. The value of PV generation in future generation portfolios is also influenced by the mix of generation technologies. The findings from this study can assist in energy and climate policy decision making in the electricity industry, particularly with regard to large-scale PV generation and carbon pricing.
Starting Page	79
Ending Page	87
Page Count	9
ISSN	17521416
Volume Number	10
e-ISSN	17521424
Issue Number	Issue 1, Jan (2016)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-rpg/10/1
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-rpg.2015.0051
Journal	IET Renewable Power Generation
Publisher Date	2016-01-01
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Air Pollution Control Carbon Price Climate Policy Decision Making CO2 Emission Cost Reduction Cost Uncertainty Demand Side Management Economics And Legislation Electricity Demand Electricity Industry Energy And Environmental Policy Energy Policy Decision Making Energy ReSource Energy Security Environmental Challenges Environmental Economics Environmental Factors Expected Future Cost Future Electricity Generation Portfolio Industry Generation Cost Monte Carlo Generation Portfolio Modelling Monte Carlo Method Photovoltaic Power System Plant Capital Cost Power Generation Economics Power Market Power System Economics Power System Managemen Power System Operation Pricing Probability Theory PV Penetration Solar Photovoltaic Generation Solar Power Stations Statistics Stochastic Linearised SCUC Transmission Cost Estimation Uncertain Future Fossil Fuel Cost Uncertain Future Fossil Fuel Price
Content Type	Text
Resource Type	Article
Subject	Renewable Energy, Sustainability and the Environment

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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