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Displaying results 1 to 6 of 6.

  1. Photovoltaic smart grids in the prosumers investment decisions
    a real option model
    Author: Castellini, Marta; Menoncin, Francesco; Moretto, Michele; Vergalli, Sergio
    Published: October 2019
    Publisher:  Fondazione Eni Enrico Mattei, Milano, Italia

    The digitization of power system represents one of the main instruments to achieve the target set by the European Union 2030 climate and energy Agenda of affordable energy transition. During the last years, such innovation process has been associated... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 125
    Inter-library loan:
    No inter-library loan

     

    The digitization of power system represents one of the main instruments to achieve the target set by the European Union 2030 climate and energy Agenda of affordable energy transition. During the last years, such innovation process has been associated with the Smart Grid (SG) term. In this context, efficiency and flexibility of power systems are expected to increase and energy consumers to be active also on the production side, thus becoming prosumers (agents that both produce and consume energy). This paper provides a theoretical real option framework with the aim to model prosumers' decision to invest in photovoltaic power plants, assuming that they are integrated in a Smart Grid. Our main focus is to study the optimal plant size and the optimal investment threshold, in a context where exchange of energy among prosumers is possible. The model was calibrated and tested with data from the Northern Italy energy market. Our findings show that the possibility of selling energy between prosumers, via the Smart Grid, increases investment values. This opportunity encourages prosumers to invest in a larger plant compared with the case without exchange possibility and that there is a positive relation between optimal size and (optimal) investment timing. The effect of uncertainty is in line with the literature, showing increasing value to defer with volatility.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/211187
    Series: Array ; 2019, 028
    Scope: 1 Online-Ressource (circa 36 Seiten), Illustrationen
  2. Energy exchange among heterogeneous prosumers under price uncertainty
    Author: Castellini, Marta; Di Corato, Luca; Moretto, Michele; Vergalli, Sergio
    Published: [2021]
    Publisher:  Department of Economics, Ca’ Foscari University of Venice, Venice Italy

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 495
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Ca' Foscari University of Venice, Department of Economics ; 2021, no. 24
    Subjects: Smart Grids; Renewable Energy Sources; Real Options; Prosumer; Peer to Peer Energy Trading
    Scope: 1 Online-Ressource (circa 64 Seiten), Illustrationen
  3. Renewable energy communities, digitalization and information
    Author: Bergemann, Dirk; Bertolini, Marina; Castellini, Marta; Moretto, Michele; Vergalli, Sergio
    Published: December 2022
    Publisher:  Fondazione Eni Enrico Mattei, Milano, Italia

    In this work we study the case of agents willing to engage in a Renewable Energy Community (REC). The municipality - being the promoter of the REC - burdens all the investment costs (RE plants, storage, local grid interventions) and entrusts an... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 125
    Inter-library loan:
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    In this work we study the case of agents willing to engage in a Renewable Energy Community (REC). The municipality - being the promoter of the REC - burdens all the investment costs (RE plants, storage, local grid interventions) and entrusts an aggregator of its operation paying a fixed tariff. The latter, acting as a monopolist, is also the sole supplier of energy for the REC's members. The management of the REC requires the collection of energy data from the members to assure its efficient operation on the side of the self-consumption and exchange of energy within it. Such data allow also the identification of the agents' preferences across energy devices and are an additional source of revenues for the aggregator thanks to their sell to third parts. This behaviour translates into a dis-utility the agents, which we call privacy cost. In such a framework, we consider also uncertainty on the side of the investment cost. On the basis of the outcomes of our model, we are able to study the effect of data collection policy performed by the aggregator on the size of the REC, while also accounting for agents' valuation and the role of uncertainty on the investment cost side.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/267502
    Series: Working paper / Fondazione Eni Enrico Mattei ; 2022, 37
    Subjects: Smart Grids; Renewable Energy Sources; Renewable Energy Communities; Prosumers; Peer to Peer Energy Trading; Information; Privacy Costs
    Scope: 1 Online-Ressource (circa 34 Seiten), Illustrationen
  4. Energy exchange among heterogeneous prosumers under price uncertainty
    Author: Castellini, Marta; Di Corato, Luca; Moretto, Michele; Vergalli, Sergio
    Published: October 2021
    Publisher:  Fondazione Eni Enrico Mattei, Milano, Italia

    In this paper, we provide a real options model framing prosumers' investment in photovoltaic plants. This is presented in a Smart Grid context where the exchange of energy among prosumers is possible. We determine the optimal size of the photovoltaic... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 125
    Inter-library loan:
    No inter-library loan

     

    In this paper, we provide a real options model framing prosumers' investment in photovoltaic plants. This is presented in a Smart Grid context where the exchange of energy among prosumers is possible. We determine the optimal size of the photovoltaic installations based on the influence the self-consumption profiles on the exchange of energy among prosumers. We calibrate the model using figures relative to the Northern Italy energy market and investigate the investment decision allowing for different prosumer profiles and consider several combinations of their individual energy demand and supply. Our findings show that the shape of individual energy demand and supply curves is crucial to the exchange of energy among prosumers, and that there could be circumstances under which no exchange occurs.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/246750
    Series: Working paper / Fondazione Eni Enrico Mattei ; 2021, 025
    Subjects: Smart Grids; Renewable Energy Sources; Real Options; Prosumer; Peer to Peer Energy Trading
    Scope: 1 Online-Ressource (circa 66 Seiten), Illustrationen
  5. RICE-MED, an integrated assessment model for the Mediterranean basin
    assessing the climate-economy-agriculture nexus
    Author: Castelli, Chiara; Castellini, Marta; Gusperti, Camilla; Lupi, Veronica; Vergalli, Sergio
    Published: September 2023
    Publisher:  Fondazione Eni Enrico Mattei, Milano, Italia

    In this work we update the regionalization and the calibration of the Regional dynamic Integrated model of Climate and the Economy (RICE) in its 1999 version developed by Nordhaus and Boyer (2000), with a focus on the Mediterranean countries. Our aim... more

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    Verlag (kostenfrei)
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 125
    Inter-library loan:
    No inter-library loan

     

    In this work we update the regionalization and the calibration of the Regional dynamic Integrated model of Climate and the Economy (RICE) in its 1999 version developed by Nordhaus and Boyer (2000), with a focus on the Mediterranean countries. Our aim is to assess the impact of climate change damages on their main macroeconomic variables in a context where all economies are fossil fuel based. In addition, we extend the model by introducing the uncertainty associated with a possible future catastrophic event, triggered by the temperature increase and variation over time, following the approach of Castelnuovo et al. (2003). We then develop an empirical exercise to asses the impact of climate change on the agricultural sector at country level. In this framework, we implement the traditional IAMs scenarios, namely the Business As Usual, the Social Optimum and the Temperature Limit, where population dynamics is calibrated according to the IIASA SSP2 projections. Among our findings, we show that, in the absence of renewable energy sources and break-through technologies, meeting the limit of a temperature increase of less than 2°C requires a carbon tax of more than 700 USD/tC by 2050, doubling by the end of this century. When uncertainty is introduced, the higher the probability of a possible catastrophic event and the greater the associated utility loss, the more society is willing to pay for a rising cost of carbon. The upward trend of the carbon tax relative to the no-uncertainty model is reduced by the end of the century in the temperature-limit scenario, due to the benefits associated with this policy and the inclusion in the model of societal awareness of the potential risks of climate change. In both versions of the model, the agricultural sector in the Southern Mediterranean countries is severely affected, and stringent policies can partially mitigate these impacts and reduce damages by 2100.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/281122
    Series: Working paper / Fondazione Eni Enrico Mattei ; 2023, 015
    Subjects: IAMs; climate change; carbon tax; carbon price; emissions; temperature; energy; Mediterranean region; Mediterranean countries
    Scope: 1 Online-Ressource (circa 77 Seiten), Illustrationen
  6. A review of macroeconomic models for the WEFE nexus assessment
    Author: Castelli, Chiara; Castellini, Marta; Ciola, Emanuele; Gusperti, Camilla; Romani, Ilenia Gaia; Vergalli, Sergio
    Published: November 2022
    Publisher:  Fondazione Eni Enrico Mattei, Milano, Italia

    The Water, Energy, Food and Ecosystems (WEFE) nexus refers to the system of complex and highly non-linear interconnections between these four elements. It now represents the basic framework to assess and design policies characterized by an holistic... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 125
    Inter-library loan:
    No inter-library loan

     

    The Water, Energy, Food and Ecosystems (WEFE) nexus refers to the system of complex and highly non-linear interconnections between these four elements. It now represents the basic framework to assess and design policies characterized by an holistic environmental end economical perspective. In this work, we provide a systematic review of the macroeconomic models investigating its components as well as combinations of them and their interlinkages with the economic system. We focus on four different types of macroeconomic models: Computable General Equilibrium (CGE) models, Integrated Assessment Models (IAMs), Agent-based Models (ABMs), and Dynamic Stochastic General Equilibrium (DSGE) models. On the basis of our review, we find that the structure of IAMs is currently the most used to represent the nexus complexity, while DSGE models focus only on single components but appear to be better suited to account for the randomization of exogenous shocks. CGE models and ABMs could be more effective on the side of the policy perspective. Indeed, the former can account for interlinkages across sectors and countries, while the latter can define theoretical frameworks that better approximate reality.

     
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/267500
    Series: Working paper / Fondazione Eni Enrico Mattei ; 2022, 35
    Subjects: Agent-based; Computable general equilibrium; Dynamic stochastic general equilibrium; Integrated assessment; Macroeconomic models; Water-energy-foodecosystems nexus
    Scope: 1 Online-Ressource (circa 46 Seiten), Illustrationen