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Real-time pricing revisited: Demand flexibility in the presence of micro-generation
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics. Umeå University, Faculty of Social Sciences, Center for Environmental and Resource Economics (CERE).
Umeå University, Faculty of Social Sciences, Center for Environmental and Resource Economics (CERE). Department of Forest Economics, Swedish University of Agricultural Sciences (SLU), Umeå, Sweden.ORCID iD: 0000-0002-9494-6467
(Finnish Meteorological Institute)
(Finnish Meteorological Institute)
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2018 (English)In: Energy Policy, ISSN 0301-4215, E-ISSN 1873-6777, Vol. 23, p. 642-658Article in journal (Refereed) Published
Abstract [en]

An understanding of household demand response (DR) is important in view of increasingly smart grids in which high shares of renewable supply are being promoted. In addition, an important development in the Nordic market relates to increasing thrust on household solar photo-voltaic (PV) panels. In view of the potential for interaction between dynamic pricing-driven and PV generation-driven load changes, an analysis of the combined effects in relation to the system profile is important, not least because this can affect the nature of benefits to households and to the grid. Using a unique and detailed dataset on household electricity consumption, in combination with simulated solar panel micro-generation data, these aspects are explored here using a demand framework drawn from the previous literature. Our findings indicate that even with low price responsiveness, household response to dynamic pricing can lead to load changes with sizeable benefits. In addition, the introduction of PV panels appear to be beneficial to the electric grid, largely due to the time pattern of winter PV generation. Overall, our findings provide tentative support to the hypothesis that dynamic pricing, by incentivizing households to provide demand response at appropriate times, can aid in integration of renewables.

Place, publisher, year, edition, pages
Elsevier, 2018. Vol. 23, p. 642-658
Keywords [en]
Real time electricity pricing, Energy demand, Renewable energy, Intermittency
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:umu:diva-153872DOI: 10.1016/j.enpol.2018.08.024ISI: 000453499700062OAI: oai:DiVA.org:umu-153872DiVA, id: diva2:1268409
Available from: 2018-12-05 Created: 2018-12-05 Last updated: 2019-01-08Bibliographically approved

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Vesterberg, MattiasB. Krishnamurthy, Chandra Kiran

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