Investment decisions in competitive power markets are based upon thorough profitability assessments. Thereby, investors typically show a high degree of risk aversion, which is the main argument for capacity mechanisms being implemented around the world. In order to investigate the...

Electricity markets are currently going through a phase of agitating transition, which is mainly characterized by an increasing share of fluctuating renewable energies. Among policy makers, this has led to growing concerns about generation adequacy and often to the introduction of different...

Currently, most photovoltaic (PV) modules are aligned in a way that maximizes the overall annual yields, which leads to significant peaks in electricity production and could threaten energy policy objectives such as security of supply as well as environmental sustainability. The exploitation of...

The trend towards decentralized energy systems with an emphasis on renewable energy sources (RES) causes increased fluctuations and non-negligible weather-related uncertainties on the future supply side. Stochastic modeling techniques enable an adequate consideration of uncertainties in the...

The recent rapid expansion of renewable energy capacities in Germany has been dominated by decentralised wind, photovoltaic (PV) and bioenergy plants. The spatially disperse and partly unpredictable nature of these resources necessitates an increasing exploitation of integration measures such as...