Market mechanisms to support electricity generation

Posted on Feb 15, 2021 by Hanna DuBuque

Market mechanisms to support electricity generation from renewable energy sources: the benefits of the auction model for wind energy.

Mechanisms to encourage both industrial and residential customers to participate in balancing generation and consumption in the United States, the United Kingdom, Australia, and China are examined. These mechanisms are based on Demand Response (DR) programs, which provide payments to consumers for the provision of energy rescheduling services under certain system conditions or economic signals of the wholesale and retail markets, and allow for increased efficiency and reliability of the power system, reduction of emissions into the environment, connecting a large number of renewable energy sources to the grid, reducing grid congestion, load balancing

Original Source: https://www.aweablog.org/market-mechanisms-to-support-electricity-generation/