We use Monte Carlo analysis to examine the potential of increased renewable generation to provide a hedge against variability in energy prices and costs. Fuel costs, electricity demand and wind generation are allowed to vary and a unit commitment and economic dispatch algorithm is employed to...

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...

Land-use conflicts arise if land is scarce, land-use types are mutually exclusive, and vary in their effects with regard to more than one incongruent policy objective. If these effects depend on the spatial location of the land-use measures the conflict can be mediated through an appropriate...

The thesis at hand includes three distinct essays that analyze economic issues related to liberalized electricity markets. In the first essay, the effects of capacity mechanisms on the market structure in electricity markets are investigated. We consider a model with dominant firms and a...

We investigate the importance of taking the spatial interaction of turbines inside a wind park into account. This article provides two tests that check for wake effects and thus, take spatial interdependence into account. Those effects are suspected to have a negative influence on wind power...