empirical market data from Germany. Despite German VRE capacity doubled during the last five years and has surpassed 70% of peak …

This paper estimates the welfare-optimal market share of wind and solar power, explicitly taking into account their … Europe from a calibrated numerical power market model. The optimal long-term share of wind power of total electricity … consumption is estimated to be 20% at cost levels of 50 €/MWh, about three times the current market share of wind; but this …

The income that wind and solar power receive on the market is affected by the variability of their output. At times of … merit-order effect depends on the amount of installed renewable capacity, the slope of the merit-order curve, and the … average electricity price remains constant. This work quantifies the effect of variability on the market value of renewables …

This paper estimates the welfare-optimal market share of wind and solar power, explicitly taking into account their … Europe from a calibrated numerical power market model. The optimal long-term share of wind power of total electricity … consumption is estimated to be 20% at cost levels of 50 €/MWh, about three times the current market share of wind; but this …

Several studies have shown that the revenues of wind and solar power generators on spot markets (“market value … that this paper aims to fill. We derive a formal expression of the market value as a function of the penetration rate. At … low deployment, the market value is driven by the covariance over time between winds or sunshine and electricity …

markets. Using a numerical electricity market model, we estimate the economic value of wind energy and the economic cost of … technology, and thermal storage. Furthermore, heat pumps raise the wind market value, but this effect vanishes if accounting for …