Projects per year
Austria has set the goal to transform its electricity sector to 100% renewable energy sources by 2030. The transition to highly renewable power systems is not only a technical challenge but also has economic implications due to high investment needs. Furthermore, electricity price and demand are interlaced and influence each other, which requires both technical and economic analyses. In order to provide these comprehensive integrated analyses, we present a novel approach of linking the technical model of the continental European electricity system ATLANTIS with the macroeconomic model DYNK. This allows us, inter alia, to analyze the effects of increasing shares of renewables on wholesale electricity prices and demand, and to perform a sensitivity analysis with respect to CO 2 prices. Our results show that increasing CO 2 prices greatly affect coal-fired generation abroad, which in turn promotes the role of gas-fired generation, at least until 2030. For Austria, this results in increased national gas-fired generation and electricity exports. Therefore, gas-fired power plants still determine the Austrian market price for electricity in the merit order, which leads to higher electricity prices due to CO (Formula presented.) pricing. In turn, however, higher electricity prices only cause a marginal reduction in the electricity demand in Austria.
|Publication status||Published - Mar 2023|
- renewable energies
- macroeconomic modelling
- electricity economics
- model linkage
ASJC Scopus subject areas
- Control and Optimization
- Energy (miscellaneous)
- Engineering (miscellaneous)
- Energy Engineering and Power Technology
- Electrical and Electronic Engineering
- Building and Construction
- Fuel Technology
- Renewable Energy, Sustainability and the Environment
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- 1 Finished
START2030 - A Social, Technological and economic evaluation of Austria's Renewable electricity Transformation 2030
Bachhiesl, U., Gruber, L., Gaugl, R., Klatzer, T. F. & Wogrin, S.
1/11/20 → 31/10/22
Project: Research project