We fit CES and VES production functions to data from a numerical bottom-up optimization model of electricity supply with clean and dirty inputs. This approach allows for studying high shares of clean energy not observable today and for isolating mechanisms that impact the elasticity of...

The energy system of the European Union has suffered major changes in the recent years. High energy prices, increased energy security concerns and heavy reliance on gas, oil, and main combustibles coming from Russia have the three most important features of the EU energy sector in 2022. The...

Energy security and affordability are major concerns in the coming winter as Germany seeks substitutes for Russia’s energy supplies. We highlight the role of energy transition on its exposure to energy price shocks and its failure to include security considerations in its trading arrangements....

Mitigating climate change will require integrating large amounts of highly intermittent renewable energy (RE) sources in future electricity markets. Considerable uncertainties exist about the cost and availability of future large-scale storage to alleviate the potential mismatch between demand...

The European Union (EU) has redefined the energy sphere in Europe over the last three decades. Transnational policies targeting liberalization and integration, energy efficiency, renewables, carbon pricing, and energy security have led to major steps forward in terms of a more secure,...