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At least 505 records · Page 28

Impacts of long-term temperature change and variability on electricity investments

Long-term temperature change and variability are expected to have significant impacts on future electric capacity and investments. This study improves upon past studies by accounting for hourly and monthly dynamics of electricity use, long-term socioeconomic drivers, and interactions of the electric sector with rest of the economy for a comprehensive analysis of temperature change impacts on cooling and heating services and their corresponding impact on electric capacity and investments. Using the United States as an example, here we show that under a scenario consistent with a socioeconomic pathway 2 (SSP2) and representative concentration pathway 8.5 (RCP 8.5), mean temperature changes drive increases in annual electricity demands by 0.5-8% across states in 2100. But more importantly, peak temperature changes drive increases in capital investments by 3-22%. Moreover, temperature-induced capital investments are highly sensitive to both long-term socioeconomic assumptions and spatial heterogeneity of fuel prices and capital stock characteristics, which underscores the importance of a comprehensive approach to inform long-term electric sector planning.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Accelerating room air conditioner efficiency in India: Grid, economic, and policy implications through 2035

India is poised for a rapid surge in space cooling demand, driven by rising incomes, urbanization, and intensifying heat. Between 2025 and 2035, the country is expected to add 130–150 million new room air conditioners (ACs). If Minimum Energy Performance Standards (MEPS) continue to improve at the historical rate of 2–3 % annually, room ACs alone could contribute over 180 GW to peak electricity demand by 2035-nearly 30 % of the projected national total. This study evaluates the impact of an accelerated MEPS trajectory, proposing to raise the 1-star threshold to ISEER 5.0 by 2027, ISEER 6.3 by 2030, and ISEER 7.4 by 2033. Drawing on engineering cost analysis, stock turnover modeling, and retail pricing data, we find that this pathway could reduce peak demand by over 60 GW, save 118 TWh of electricity annually, avoid 49 MtCO₂ of electricity-related emissions per year, avert ₹7.5 trillion (∼US$85 billion) in power system investments, and yield ₹0.7–2.3 trillion (∼US$8–26 billion) in net consumer savings by 2035. Contrary to affordability concerns, empirical trends show that higher efficiency does not increase AC prices. These results highlight the value of ambitious MEPS as a cost-effective strategy for improving grid reliability, reducing emissions, and advancing consumer welfare in emerging economies.

Abhyankar, Nikit↗

Designing a transactive electric vehicle agent with customer’s participation preference

The proliferation of electric vehicles (EVs) and their inherent flexibility in charging timings make them an asset to improve grid performance. In contrast to direct control by a utility or autonomous price-based charging, the transactive control framework not only provides benefits to both grid and customers but also ensures customer autonomy. In this work, we design a transactive electric vehicle (TEV) agent that incorporates the EV owner’s willingness to trade-off between savings and amenity in form of a slider, where the EV owner’s amenity is characterized as vehicle readiness. Further, a privacy-preserving bidding formulation is proposed that also represents the customer’s transactive preference. A transactive market mechanism is discussed that integrates the TEV Agents into the local retail market and reconciles with the current day-ahead and real-time market structure. It is demonstrated that the proposed slider is able to provide a preferred trade-off between savings and amenity to individual customers. At the same time, the market mechanism is shown to successfully reduce both peak prices and peak demand. A comparative investigation of V1G and V2G technologies with respect to the battery prices is also discussed. It reveals that the V2G does not offer significant additional benefits with current battery prices, but could be promising if battery costs decline in the future.

33 ADVANCED PROPULSION SYSTEMS↗

A technoeconomic analysis of poly- and single-crystalline NMCxyz from material synthesis to battery pack design

A process model was developed for estimating the cost of manufacturing lithium nickel manganese cobalt oxide (LiNi x Mn y Co z O 2 , NMCxyz), the main cathode active material in lithium-ion batteries used for electric vehicles in the United States. The model was used to estimate the prices of NMC622, NMC811, and NMC955 with poly- and single-crystalline morphologies. The Battery Performance and Cost Model (BatPaC) was used to translate the NMC prices into battery pack prices. A decrease in cobalt content from NMC622 (20% Co) to NMC955 (5% Ni) decreases the material price by $\$$0.85/kg (−3%) due to a decrease in the cost of battery materials, which account for >60% of the total price. NMC622 only produce cheaper packs if the nickel sulfate cost is > 4 × its baseline, indicating higher nickel materials will lower pack cost under normal market conditions. Single-crystalline materials are $\$$2/kg (+8%) more expensive than their polycrystalline counterparts due to higher manufacturing costs from longer, hotter calcinations in less densely packed saggars. This increases the pack price by ∼$\$$3/kWh, assuming identical electrochemical properties. In conclusion, the single-crystalline materials could yield cheaper packs if cycled to higher upper cutoff voltages (i.e., 4.35 to 4.43 V for the single-crystalline material vs. 4.25 V for their polycrystalline counterparts).

Cost modeling↗

Shape-Controlled Synthesis of Copper Nanocrystals for Plasmonic, Biomedical, and Electrocatalytic Applications

As a metal that can occur in nature in the elemental form, copper (Cu) has been used by humans since ca. 8000 BC. With most properties matching those of Ag and Au, Cu has played a more significant role in commercial applications owing to its much higher (the 25th among all elements) abundance in Earth’s crust and thus more affordable price. In addition to its common use as a conductor of heat and electricity, it is a constituent of various metal alloys for hardware, coins, strain gauges, and thermocouples. Bulk Cu is also widely utilized as a building material. When downsized to the nanoscale, Cu and Cu-based structures have found widespread use in applications ranging from electronics to optoelectronics, plasmonics, catalysis, sensing, and biomedicine. Besides Ag and Au, for example, Cu is another metal known for its localized surface plasmon resonance (LSPR) in the visible and near-infrared regions when prepared as nanocrystals. As a potential replacement for indium–tin oxide (ITO) films, polymer coatings containing Cu nanowires are strong candidates for the fabrication of transparent and flexible electrodes key to touchscreen display and related applications. The commercial catalysts for water–gas shift and gas detoxification reactions are also based on Cu nanoparticles. Most recently, Cu nanocrystals have attracted considerable interest for their superior selectivity toward hydrocarbons and multicarbon species during the electrochemical reduction of CO 2 . The success of all these applications critically depends on our ability to control the shape and surface structure of the nanocrystals. Relative to Ag and Au, it is more challenging to generate Cu-based nanocrystals using colloidal methods due to its lower reduction potential and greater vulnerability to oxidation. Here, in this account, we discuss recent progress in the colloidal synthesis of Cu nanocrystals with controlled shapes for plasmonic, biomedical, and catalytic applications. With glucose serving as a reducing agent, Cu nanocrystals bearing a twinned or single-crystal structure can be synthesized using an aqueous system with the assistance of hexadecylamine (HDA). In this synthetic protocol, HDA not only passivates the surface to protect the nanocrystals from oxidation but also manipulates the reduction kinetics of Cu(II) precursor through coordination and an increase of solution pH. Typical products include nanocubes and penta-twinned nanowires whose surfaces are dominated by {100} facets. When seeds produced either in situ or ex situ are introduced, Cu-based nanocrystals featuring a singly twinned, core–shell, or Janus structure can be readily synthesized. Aside from segmented structures, Cu-based alloys with various noble metals can be synthesized through coreduction or a galvanic replacement reaction with preformed Cu nanocrystals. By controlling the size and/or shape of Cu nanocrystals, their LSPR peaks can be tuned into the near-infrared region, making them promising candidates for optical imaging contrast enhancement and photothermal treatment. The inclusion of the 64 Cu isotope makes them immediately useful in positron emission tomography and thus image-guided therapy. The surface structure, elemental distribution, and valence state of Cu-based nanocrystals can all be tailored to augment their electrocatalytic performance. It is hoped that this Account will inspire more studies into the development of rational methods capable of producing Cu-based nanocrystals with diverse and well-controlled shapes, internal structures, and compositions for a broader range of applications.

36 MATERIALS SCIENCE↗

Evaluation of a 5kW Solid Oxide Electrolysis Cell Stack

Solid oxide electrolysis cells (SOECs) are a developing technology for hydrogen production. They are promising due to their utilization of thermal energy to reduce their electricity consumption. The Department of Energy (DOE) has set goals to reduce the price per kilogram of hydrogen, and Idaho National Laboratory (INL) is conducting research to develop and demonstrate advanced methods and technologies to achieve making hydrogen a more affordable, efficient, and sustainable energy source. In this project, INL is collaborating with a vendor to evaluate and validate the design of a 5kW SOEC stack. The test aims to demonstrate a safe startup, operation, and shutdown on INL’s 5kW test stand, providing third-party validation in a different environment. A successful 50-hour test with stable hydrogen production will pave the way for a subsequent 1000-hour test. This project emphasized learning about electrolysis and the various support systems, referred to as balance of plant (BOP) equipment. These systems required modification while swapping to the vendor 5kW SOEC stack, most prominently the furnace door design and the controls system. It also included gaining skills in creating computer-aided design (CAD) drawings for the new door while using available materials and ensuring it met high-temperature requirements. Upon completion of modifications to the test stand, the SOEC will be test-fitted with respective wiring and piping. Instrumentation and piping will be checked for leaks and quality. This must be completed before the vendor’s engineers arrive to observe the test plan, startup, and a collection of 50 hours of data. The vendor’s engineers will ensure their stack performed sufficiently in the 50-hour test to enable the progression to a 1000-hour test.

08 - HYDROGEN↗

Hybrid Heat Pump Controls: Conventional Dual Fuel versus Seamlessly Fuel Flexible Heat Pump

This paper compares the performance of a novel seamlessly fuel flexible heat pump (SFFHP) and conventional dual fuel heat pump (DFHP) for space heating. The conventional dual fuel systems either run on the gas furnace or electric heat pump at any given moment, as a comparison, the proposed seamlessly fuel flexible heat pump simultaneously consumes gas and electricity by continuously optimizing the proportion of each. The process air flows across the heat pump condenser first and then flows across the furnace coil, therefore, the heat pump temperature lift is reduced. SFFHP delivers energy savings by allowing each subsystem, i.e., gas furnace and electric heat pump, to operate where it performs best.For DFHP, two operation control strategies, i.e., non-restricted control and restricted control, are available on market. For the non-restricted mode, the thermostat has a switching temperature-programmed according to the balancing point of heating load and capacity curve. Heat pump operates above the switching temperature, while the furnace takes over under the switching temperature. For the restricted control, the compressor of a heat pump is disabled below a predefined lockout outdoor temperature to let the furnace take over. For SFFHP, a model predictive control strategy is developed to continuously adjust the capacities of the electric heat pump and gas furnace based on the foreseen weather data, utility price signals, and marginal grid emission signals with the goal of minimizing the utility cost and CO2 emission while guaranteeing comfort requirements.In this paper, DFHP and SFFHP are simulated using high-fidelity heat pump performance curves generated from DOE/ORNL heat pump design model. Performance comparison of DFHP and SFFHP during 2019-2020 heating season in Los Angeles shows that SFFHP with model predictive control achieves 23% utility cost reduction and 17 % CO2 emission reduction. Case studies demonstrate that SFFHP can deliver significant reductions in peak demand, utility cost, and CO2 emission. As a result, SFFHP can deliver superior benefits for utility cost reduction and CO2 emission reduction over conventional dual fuel heat pump.

Li, Zhenning↗

Hybrid renewable energy systems: the value of storage as a function of PV-wind variability

As shares of variable renewable energy (VRE) on the electric grid increase, sources of grid flexibility will become increasingly important for maintaining the reliability and affordability of electricity supply. Lithium-ion battery energy storage has been identified as an important and cost-effective source of flexibility, both by itself and when coupled with VRE technologies like solar photovoltaics (PV) and wind. In this study, we explored the current and future value of utility-scale hybrid energy systems comprising PV, wind, and lithium-ion battery technologies (PV-wind-battery systems). Using a price-taker model with simulated hourly energy and capacity prices, we simulated the revenue-maximizing dispatch of a range of PV-wind-battery configurations across Texas, from the present through 2050. Holding PV capacity and point-of-interconnection capacity constant, we modeled configurations with varying wind-to-PV capacity ratios and battery-to-PV capacity ratios. We found that coupling PV, wind, and battery technologies allows for more effective utilization of interconnection capacity by increasing capacity factors to 60%–80%+ and capacity credits to close to 100%, depending on battery capacity. We also compared the energy and capacity values of PV-wind and PV-wind-battery systems to the corresponding stability coefficient metric, which describes the location-and configuration-specific complementarity of PV and wind resources. Our results show that the stability coefficient effectively predicts the configuration-location combinations in which a smaller battery component can provide comparable economic performance in a PV-wind-battery system (compared to a PV-battery system). These PV-wind-battery hybrids can help integrate more VRE by providing smoother, more predictable generation and greater flexibility.

14 SOLAR ENERGY↗

Exploring Grid-Interactive Efficient Building Strategies for Laboratories Through Energy Modeling

Laboratories are often overlooked in demand flexibility research due to constraints on their operations as mission critical facilities, despite the major role they play in an organization's emissions. Laboratories consume 3-4 times more energy than a typical office building and are commonly the largest energy users on any campus. Consequently, most laboratories in the United States are significant contributors to their organization's carbon footprint if their energy needs are met through the combustion of fossil fuels. As part of the initiative to decarbonize laboratories, this report documents an analysis on specifically grid-interactive efficient building (GEB) opportunities for reducing energy costs and emissions associated with laboratory operations. The goal of this initiative was to provide a case study and guidance on how to use OpenStudio and REopt as modeling tools for GEB technologies and strategies in laboratory environments across different climate zones in the United States. The analysis found that efficiency-based GEB strategies had the most significant impact on laboratory operations, while load-shedding and load-shifting GEB strategies produced smaller results. The culmination of these approaches applied across all five climate zones generated on average: 1) 28% energy cost savings and 30% greenhouse gas (GHG) emissions reductions, and 2) 4% enhanced energy cost savings under a time-of-use (TOU) pricing schedule compared to traditional pricing schemes. Grid-interactive efficiency building measures were found to produce the greatest energy savings in both electricity and natural gas, particularly in regions with high electrical loads, such as warm climates for cooling. Laboratories that had high levels of natural gas consumption, meanwhile, experienced the greatest emission reductions. The report concludes with an analysis on the opportunities for flexible loads in lab spaces and how small-scale measures in addition to opaque pricing structures for peak demand could become barriers to demand flexibility planning. The report also explores how electrifying laboratory buildings with heat pumps could reduce energy costs and GHG emissions.

24 POWER TRANSMISSION AND DISTRIBUTION↗

State-Level Trends in Renewable Energy Procurement via Solar Installation versus Green Electricity

In recent years, options for procuring renewable energy have increased, ranging from rooftop solar installation to utility green pricing to Community Choice Aggregation. These options vary in terms of costs and benefits to the consumer as well as grid integration implications. However, little is known regarding how the presence of a wide range of voluntary utility-scale renewable procurement options as well as their growth could affect adoption of distributed residential solar. To examine this relationship, we fit a two-stage least squares random effects regression model on panel data from 2016 to 2019 for all fifty US states plus the District of Columbia, controlling for variables that measure state-level policies, economic factors, and resource availability. Although there was no evidence of a strong relationship between demand for utility-scale and distributed options across all states, the state-level correlations suggest a wide variation between states including a positive, zero or negative relationship between utility-scale and distributed generation.

consumer demand↗

U.S. State Renewables Portfolio & Clean Electricity Standards: 2024 Status Update [Slides]

This report provides an overview and status update on U.S. state renewables portfolio standards (RPS) and has been expanded from previous editions to also cover 100% clean electricity standards (CES) adopted by a growing number of states. The report, published in slide-deck form along with accompanying data files, describes recent legislative revisions, key policy design features, compliance with interim targets, past and projected impacts on clean electricity development, and compliance costs. The 2023 edition presents historical data through year-end 2023 and projections out to 2050. Key trends from this edition of the report include the following: -Evolution of state RPS and CES programs: States continue to refine and revise their RPS policies, often by adopting higher targets and/or broader CES policies. Among the 29 states plus DC with an RPS, 16 have RPS targets of at least 50% of retail sales, and 4 states have a 100% RPS. An additional 16 states have adopted a broader 100% CES. -Historical impacts on renewables development: Almost half of all growth in U.S. renewable electricity (RE) generation and capacity since 2000 is nominally associated with state RPS requirements. That percentage has declined over time to 35% of all U.S. RE capacity additions in 2023, though in certain regions RPS policies continue to play a dominant role in driving RE growth. -Future RPS and CES demand and incremental needs: The combined demand for clean electricity from RPS and CES policies will grow from roughly 500 TWh today to 1700 TWh by 2050. Accounting for current supplies—including existing nuclear and hydroelectric generation eligible for CES targets—RPS and CES policies will require 900 TWh of new clean electricity by 2050, equivalent to roughly 3x the historical rate of RPS-buildout. -RPS target achievement to-date: States have generally met their interim RPS targets in recent years, with only a few exceptions reflecting unique, state-specific issues. Most CES targets are not yet in force, and so little compliance experience to-date. -REC pricing trends: Prices for NEPOOL Class I RECs remained at roughly $\$40$/MWh over the past year, just below ACP rates in the larger state markets, while PJM Tier I REC prices continued to rise, reaching $\$35$/MWh by year-end 2023 and surpassing ACP levels in some states. Prices for solar RECs remained relatively stable, and continue to exhibit wide variation across states, with the highest prices ($200-450/MWh) in NJ, MA, and DC. -RPS compliance costs: RPS compliance costs average roughly 4% of retail electricity bills across RPS states, though vary widely from state to state, with the highest costs (11-12% of retail bills) in states with solar carve-outs and high SREC prices.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

U.S. State Renewables Portfolio & Clean Electricity Standards: 2023 Status Update [Slides]

This report provides an overview and status update on U.S. state renewables portfolio standards (RPS) and has been expanded from previous editions to also cover 100% clean electricity standards (CES) adopted by a growing number of states. The report, published in slide-deck form along with accompanying data files, describes recent legislative revisions, key policy design features, compliance with interim targets, past and projected impacts on clean electricity development, and compliance costs. The 2023 edition presents historical data through year-end 2022 and projections out to 2050. Key trends from this edition of the report include the following: -Evolution of state RPS and CES programs: States continue to refine and revise their RPS policies, often by adopting higher targets and/or broader CES policies. Among the 29 states plus DC with an RPS, 16 states have RPS targets of at least 50% of retail sales, and 17 states have a 100% CES or RPS target. -Historical impacts on renewables development: Roughly half of all growth in U.S. renewable electricity (RE) generation and capacity since 2000 is associated with state RPS requirements, though that percentage has declined in recent years, representing 30% of all U.S. RE capacity additions in 2022. Within some regions, particularly the Northeast and Mid-Atlantic, RPS policies play a more central role in motivating RE growth. -Future RPS and CES demand and incremental needs: RPS and CES policies will require roughly 300 terawatt-hours (TWh) of additional clean electricity supply by 2030 and 800 TWh by 2050, requiring total U.S. non-hydro RE generation to reach 28% of electricity sales by 2050 (compared to 17% today). This amounts to roughly one-quarter of EIA’s projected RE growth through 2050. -RPS target achievement to-date: States have generally met their interim RPS targets in recent years, with only a few exceptions reflecting unique, state-specific issues. Most CES targets are not yet in force. -Renewable energy certificate (REC) pricing trends: Prices for NEPOOL Class I RECs remained at roughly $\$40$ /MWh over the past year, just below alternative compliance payment (ACP) rates in the larger state markets, while PJM Tier I REC prices continued to rise, reaching $\$30$ /MWh by year-end. Prices for solar RECs (or SRECs) remained relatively stable, and continue to exhibit wide variation across states, with the highest prices ($\$200-450$ /MWh) in NJ, MA, and DC. -RPS compliance costs: RPS compliance costs average roughly 3.5% of retail electricity bills across RPS states, though vary widely from state to state, with the highest costs (8-12% of retail bills) in states with solar carve-outs and high SREC prices.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

A New Era for Solar and Storage: Partnering for Continued Success

Solar energy has grown faster than experts projected. Energy storage technologies are poised to repeat that success, enabling a partnership to keep the lights on even after the sun sets. As current impacts and growing threats of climate change become more visible and the world accelerates efforts to adopt new clean-energy technology, electricity generation from solar and wind is playing an increasing role in the energy system. However, it can be confusing - we hear that solar has great potential, but we also hear that solar and wind are too small to make a meaningful difference, providing just 3% and 6% of the world's electricity in 2020, respectively (1). What is the reality and what can we expect in the coming years? This article focuses on solar, but wind has an equally impressive and interesting story. This article reviews how prices for solar have dropped dramatically and deployment has increased correspondingly to the point where solar is almost half of the new electricity generating capacity being installed globally today. It shows how solar-generated electricity has grown to the point where we need to pair it with storage or other strategies for balancing electricity supply and demand. The article also explores how lithium-ion batteries are replicating solar technology's big success and discusses new storage technologies that are being developed.

14 SOLAR ENERGY↗

Can Wholesale Electricity Markets Achieve Resource Adequacy and High Clean Energy Generation Targets in the Presence of Self-Interested Actors?

Wholesale electricity markets are intended to incentivize system generation investments and operations outcomes that meet evolving system needs. In this work, we evaluate the effectiveness of wholesale market structures, rules and policies in achieving system resource adequacy (RA) and clean energy targets in the presence of self-interested generation investors using the Electricity Markets and Investment Suite Agent-based Simulation (EMIS-AS) model. Results highlight that both capacity markets and operating reserve demand curves (ORDCs) can help achieve a reliable system but with different RA compliance timelines and distribution of generation technologies. Structures with capacity markets tend to favor more capital-intensive peaking technologies while reducing wind and solar build-outs due to suppressed energy and clean energy market prices, particularly in the absence of strong clean energy targets. Conversely, ORDCs improve the commitment of available generation units, but this comes at the expense of higher system costs and renewable generation curtailment. We also find that well-calibrated static capacity demand curves can yield similar reliability and total cost compared to capacity market demand curves informed dynamically by resource adequacy while also yielding stable annual capacity prices. Different approaches to formulating ORDC curves can also yield key trade-offs, namely that a more efficient treatment of storage chronology results in lower ORDC curves and prices, yielding less investment and cost but at the expense of reliability. Finally, the effectiveness of wholesale electricity markets in practically achieving very high clean energy generation targets highly depends on the cost-competitiveness of clean energy technologies that can support critical balancing needs across multiple timescales.

capacity expansion↗

Wholesale Electricity Markets and Resource Adequacy with High Clean Energy Generation Targets

Wholesale electricity markets are intended to incentivize system generation investments and operations outcomes that meet evolving system needs. In this work, we evaluate the effectiveness of wholesale market structures, rules and policies in achieving system resource adequacy (RA) and clean energy targets in the presence of self-interested generation investors using the Electricity Markets and Investment Suite Agent-based Simulation (EMIS-AS) model. Results highlight that both capacity markets and operating reserve demand curves (ORDCs) can help achieve a reliable system but with different RA compliance timelines and distribution of generation technologies. Structures with capacity markets tend to favor more capital-intensive peaking technologies while reducing wind and solar build-outs due to suppressed energy and clean energy market prices, particularly in the absence of strong clean energy targets. Conversely, ORDCs improve the commitment of available generation units, but this comes at the expense of higher system costs and renewable generation curtailment. We also find that well-calibrated static capacity demand curves can yield similar reliability and total cost compared to capacity market demand curves informed dynamically by resource adequacy while also yielding stable annual capacity prices. Different approaches to formulating ORDC curves can also yield key trade-offs, namely that a more efficient treatment of storage chronology results in lower ORDC curves and prices, yielding less investment and cost but at the expense of reliability. Finally, the effectiveness of wholesale electricity markets in practically achieving very high clean energy generation targets highly depends on the cost-competitiveness of clean energy technologies that can support critical balancing needs across multiple timescales.

capacity expansion↗

Wholesale Electricity Market Design to Support Resource Adequacy

Wholesale electricity markets are intended to incentivize system generation investments and operations outcomes that meet evolving system needs. In this work, we evaluate the effectiveness of wholesale market structures, rules and policies in achieving system resource adequacy (RA) and clean energy targets in the presence of self-interested generation investors using the Electricity Markets and Investment Suite Agent-based Simulation (EMIS-AS) model. Results highlight that both capacity markets and operating reserve demand curves (ORDCs) can help achieve a reliable system but with different RA compliance timelines and distribution of generation technologies. Structures with capacity markets tend to favor more capital-intensive peaking technologies while reducing wind and solar build-outs due to suppressed energy and clean energy market prices, particularly in the absence of strong clean energy targets. Conversely, ORDCs improve the commitment of available generation units, but this comes at the expense of higher system costs and renewable generation curtailment. We also find that well-calibrated static capacity demand curves can yield similar reliability and total cost compared to capacity market demand curves informed dynamically by resource adequacy while also yielding stable annual capacity prices. Different approaches to formulating ORDC curves can also yield key trade-offs, namely that a more efficient treatment of storage chronology results in lower ORDC curves and prices, yielding less investment and cost but at the expense of reliability. Finally, the effectiveness of wholesale electricity markets in practically achieving very high clean energy generation targets highly depends on the cost-competitiveness of clean energy technologies that can support critical balancing needs across multiple timescales.

agent based modeling↗

Tax Credits for Clean Electricity: The Distributional Impacts of Supply-Push Policies in the Power Sector

We evaluate distributional and efficiency consequences of the bulk power clean electricity tax credits authorized by the 2022 Inflation Reduction Act. To do so, we link detailed electricity capacity expansion, computable general equilibrium, microsimulation, and air pollution models to estimate economic welfare and health incidence across demographic groups. We evaluate trade-offs between policy efficiency and income progressivity by comparing the tax credits to cap-and-trade policies. The tax credits encourage increased clean electricity investment, resulting in a reallocation of capital from elsewhere in the economy, higher prices for capital and other goods, lower power prices, and lower emissions. The tax credits yield progressive outcomes for economic welfare at the expense of efficiency while all modeled policies demonstrate progressivity in health impacts. The health benefits, absent climate benefits, exceed total policy costs and provide greater benefits for low-income and historically marginalized households given coincidence of household locations and emissions exposure intensity.

distributional impacts↗