The economics of electricity is shaped by its physics. A well know example is the non-storability of electricity that causes its price to fluctuate widely. More generally, physical constraints cause electricity to be a heterogeneous good along three dimensions - time, space, and lead-time....

Wind power is the largest renewable energy source which produces a negligible amount of greenhouse gas (GHG) emissions, has gained enormous attention in the electricity generation sector over the past decade in the United States. In this study, a Data Envelopment Analysis (DEA) is implemented to...

Policies to cap emissions of carbon dioxide (CO2) in the U.S. economy could pose significant costs on the electricity sector, which contributes roughly 40 percent of total CO2 emissions in the U.S. Using a detailed simulation model of the electricity sector, we evaluate alternative ways that...