Open AccessMechanism of wind power and solar photovoltaic power participation in the electricity spot market considering the guaranteed capacity factor
Author(s) -
Chenghui Tang,
Fan Zhang
Publication year - 2020
Publication title -
iop conference series. earth and environmental science
Language(s) - English
Resource type - Journals
eISSN - 1755-1307
pISSN - 1755-1315
DOI - 10.1088/1755-1315/446/2/022031
Subject(s) - renewable energy , grid parity , wind power , photovoltaic system , electricity market , spot contract , spot market , electricity , environmental economics , stand alone power system , solar power , market penetration , electricity retailing , electricity generation , business , distributed generation , power (physics) , economics , electrical engineering , engineering , finance , physics , quantum mechanics , marketing , futures contract
At present, with the increasing penetration rate of renewable energy in China, it is necessary to consider renewable energy in the electricity spot market. However, wind power, solar photovoltaic power, etc. are the kind of “priority power generation”, which uses the catalogue price for the part of the guaranteed capacity factor and the market price for the rest part. The above two pricing mechanisms need to be coordinated in renewable energy consumption. This paper proposes a mechanism of renewable energy participation in the electricity spot market, which enables renewable energy participating in the spot market as other conventional energy sources under the policy of “priority power generation”.