EU Member States increase deployment of intermittent renewable energy sources to deliver the 20% renewable target formulated in the European Renewables Directive of 2008. To incorporate these intermittent sources, a power market needs to be flexible enough to accommodate short-term forecasts and...

In economic models of energy and climate policy, endogenous technological change is generally introduced as the result of either investment in research-and-development or of learning-by-doing. In this paper, we analyze alternative ways of modeling learning-by-doing in the renewable energy sector...

The increased wind energy supplied to many electricity markets around the world has to be balanced by reliable back upunits or other complementary measures when wind conditions are low. At the same time wind energy impacts both, the utilization of thermal power plants and the market prices....