SubsidieMeestersSimulating the effects of low-carbon investments in electricity markets
NextENERGEIA aims to develop an analytical tool to simulate the impact of low-carbon investments on power markets, aiding policymakers and stakeholders in the energy transition.
Projectdetails
Introduction
NextENERGEIA plans to develop and test a proof-of-concept prototype of an analytical tool for simulating the social and private impact on power markets of low-carbon investments (renewable energies, energy storage, electric vehicles, and hydrogen production).
Purpose of the Tool
The tool would shed light on issues central to the energy transition’s success, making it precious for:
- Regulators
- Policymakers
- Energy-intensive consumers
- Energy firms
In particular, the tool would be instrumental in informing the current policy debate on the electricity market reform.
Methodology
The tool would build on state-of-the-art game-theoretical models developed by the PI through her ERC Consolidator Grant ELECTRIC CHALLENGES. This would provide the basis to simulate firms’ competitive and strategic behavior in electricity markets with large shares of renewable energies and energy storage.
Impact Assessment
Those models also serve to assess the low-carbon investments’ impact on several metrics reflecting electricity market outcomes, including:
- Prices
- Market shares
- Emissions
- Firms’ financial profitability (pay-back period, NPV, IRR, etc.)
Technical Development
The algorithm would be programmed in Python, and an internet-based interface would be developed for ease of use. Data from the Spanish electricity market would be used to test the tool, which would be further extended to other European power markets.
Stakeholder Engagement
Relevant stakeholders in the sector have already shown their support and willingness to participate in the training and testing stages.
Team Composition
The team comprises the PI (Natalia Fabra), postdocs at EnergyEcoLab (the research lab she created under her ERC grant), and software programmers who would carry out the programming activities.
Expertise
The team combines:
- A deep knowledge of the power sector and the energy transition policies
- A deep understanding of the relevant economic questions
- A deep command of the methods for modeling and quantifying the performance of electricity markets
Financiële details & Tijdlijn
Financiële details
| Subsidiebedrag | € 150.000 |
| Totale projectbegroting | € 150.000 |
Tijdlijn
| Startdatum | 1-3-2024 |
| Einddatum | 31-8-2025 |
| Subsidiejaar | 2024 |
Partners & Locaties
Projectpartners
- UNIVERSIDAD CARLOS III DE MADRIDpenvoerder
Land(en)
Vergelijkbare projecten binnen European Research Council
| Project | Regeling | Bedrag | Jaar | Actie |
|---|---|---|---|---|
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MANUNKIND: Determinants and Dynamics of Collaborative Exploitation
This project aims to develop a game theoretic framework to analyze the psychological and strategic dynamics of collaborative exploitation, informing policies to combat modern slavery.
Elucidating the phenotypic convergence of proliferation reduction under growth-induced pressure
The UnderPressure project aims to investigate how mechanical constraints from 3D crowding affect cell proliferation and signaling in various organisms, with potential applications in reducing cancer chemoresistance.
The Ethics of Loneliness and Sociability
This project aims to develop a normative theory of loneliness by analyzing ethical responsibilities of individuals and societies to prevent and alleviate loneliness, establishing a new philosophical sub-field.
Uncovering the mechanisms of action of an antiviral bacterium
This project aims to uncover the mechanisms behind Wolbachia's antiviral protection in insects and develop tools for studying symbiont gene function.
Vergelijkbare projecten uit andere regelingen
| Project | Regeling | Bedrag | Jaar | Actie |
|---|---|---|---|---|
Building Up Next-Generation Smart Energy Services Offer and Market Up-take Valorising Energy Efficiency and Flexibility at Demand-SideThe project aims to create a comprehensive smart energy efficiency services package, addressing regulatory barriers and promoting innovative financing to enhance energy integration and market participation. | LIFE CET | € 1.999.293 | 2022 | Details |
Development of a dedicated Funding & Organisational Ecosystem to accelerate industrial net zero transformations.The project aims to accelerate the clean energy transition by developing scalable financing solutions for large-scale renewable investments, targeting net-zero emissions by 2031. | LIFE CET | € 1.519.417 | 2023 | Details |
Socio-Economic Challenges and Opportunities of the Energy TransitionENERGY-IN-TRANSITION aims to advance energy and environmental economics by researching Green Hydrogen regulation, electricity market design, and local socioeconomic impacts of the Energy Transition. | ERC ADG | € 2.499.440 | 2025 | Details |
Crisis-Resilient Price Discovery in Decarbonized Power SystemsThe project aims to leverage innovative optimization and machine learning techniques to enhance power market efficiency and resilience, facilitating a just clean energy transition amidst the energy crisis. | ERC STG | € 1.499.490 | 2024 | Details |
Building Up Next-Generation Smart Energy Services Offer and Market Up-take Valorising Energy Efficiency and Flexibility at Demand-Side
The project aims to create a comprehensive smart energy efficiency services package, addressing regulatory barriers and promoting innovative financing to enhance energy integration and market participation.
Development of a dedicated Funding & Organisational Ecosystem to accelerate industrial net zero transformations.
The project aims to accelerate the clean energy transition by developing scalable financing solutions for large-scale renewable investments, targeting net-zero emissions by 2031.
Socio-Economic Challenges and Opportunities of the Energy Transition
ENERGY-IN-TRANSITION aims to advance energy and environmental economics by researching Green Hydrogen regulation, electricity market design, and local socioeconomic impacts of the Energy Transition.
Crisis-Resilient Price Discovery in Decarbonized Power Systems
The project aims to leverage innovative optimization and machine learning techniques to enhance power market efficiency and resilience, facilitating a just clean energy transition amidst the energy crisis.