20 May '18, 4pm

A new study finds high amounts of #renewable energy could lead to lower electricity prices:

In a world where wind and solar resources make up 40 to 50 percent of generation, wholesale energy prices will drop by as much as $16 per megawatt-hour, according to a study released Wednesday from a group of researchers at Lawrence Berkeley National Laboratory. Modeling 2030 scenarios in which CAISO, NYISO, SPP and ERCOT reach combined wind and solar penetration at or above 40 percent, the researchers found electricity prices will fall — but price fluctuations may increase and the number of peak net-load hours will spread to a greater number of days. According to co-author Joachim Seel, the study offers a “holistic” analysis of price formation in a decarbonizing market. He said that data is not generally available to the public. Researchers hope the results, part of a three-part study stretching into the next several years, will offer policymakers, utilities and grid auth...

Full article: https://www.greentechmedia.com/articles/read/energy-price...

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