This paper estimates the welfare-optimal market share of wind and solar power, explicitly taking into account their output variability. We present a theoretical valuation framework that consistently accounts for output variability over time, forecast errors, and the location of generators in the...

This paper estimates the welfare-optimal market share of wind and solar power; explicitly taking into account their output variability. We present a theoretical valuation framework that consistently accounts for output variability over time; forecast errors; and the location of generators in the...

This paper estimates the welfare-optimal market share of wind and solar power, explicitly taking into account their output variability. We present a theoretical valuation framework that consistently accounts for output variability over time, forecast errors, and the location of generators in the...