Wind power has seen strong growth over the last decade and increasingly affects electricity spot prices. In particular, prices are more volatile due to the stochastic nature of wind, such that more generation of wind energy yields lower prices. Therefore, it is important to assess the value of...

The European Union aims to reduce greenhouse gas emissions by 80–95% in 2050 compared to 1990 levels. The transition towards a low-carbon economy implies the almost complete decarbonization of Europe's power sector, which could be achieved along various pathways. In this paper, we evaluate the...

A strong and intermeshed electricity grid allows the cost-efficient achievement of renewable energy targets by enabling the use of favorable sites and by facilitating the balancing of stochastic infeed from renewables and electricity demand. However, construction of new lines is currently...

Large scale integration of wind energy poses new challenges to the European power system due to its stochastic nature and often remote location. In this paper a multivariate uncertainty analysis problem is formulated for the integration of stochastic wind energy in the European grid. By applying...