Impact of Spanish Offshore Wind Generation in the Iberian Electricity Market: Potential Savings and Policy Implications
The European Union considers that offshore wind power will play a key role in making the EU the first climate-neutral continent by 2050. Currently, the potential of offshore wind energy is still untapped in Spain. Furthermore, the characteristics of the coastline in Spain require floating technology...
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-07-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/14/15/4481 |
| _version_ | 1797525664663863296 |
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| author | Juan-Manuel Roldan-Fernandez Javier Serrano-Gonzalez Francisco Gonzalez-Longatt Manuel Burgos-Payan |
| author_facet | Juan-Manuel Roldan-Fernandez Javier Serrano-Gonzalez Francisco Gonzalez-Longatt Manuel Burgos-Payan |
| author_sort | Juan-Manuel Roldan-Fernandez |
| collection | DOAJ |
| description | The European Union considers that offshore wind power will play a key role in making the EU the first climate-neutral continent by 2050. Currently, the potential of offshore wind energy is still untapped in Spain. Furthermore, the characteristics of the coastline in Spain require floating technology, making it challenging to install wind farms due to their current high cost. This work seeks to quantify the impact that Spanish offshore wind energy would have on the Iberian electricity market. Several offshore wind scenarios are evaluated by combining available information in relation to areas suitable for installing wind farms and wind resource data. The impact on the day-ahead electricity market has been obtained by reproducing the market, including these new offshore wind generation scenarios. The introduction of this renewable energy results in a market cost reduction in what is known as the merit-order effect. According to our estimates, for each MWh of offshore wind energy introduced in the market, there would be a market cost reduction of 45 €. These savings can serve as a reference for regulators to adjust their policy framework to boost floating wind offshore generation. |
| first_indexed | 2024-03-10T09:16:35Z |
| format | Article |
| id | doaj.art-a469e745764243868acd6df37dc4881d |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-10T09:16:35Z |
| publishDate | 2021-07-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-a469e745764243868acd6df37dc4881d2023-11-22T05:33:39ZengMDPI AGEnergies1996-10732021-07-011415448110.3390/en14154481Impact of Spanish Offshore Wind Generation in the Iberian Electricity Market: Potential Savings and Policy ImplicationsJuan-Manuel Roldan-Fernandez0Javier Serrano-Gonzalez1Francisco Gonzalez-Longatt2Manuel Burgos-Payan3Department of Electrical Engineering, Universidad de Sevilla, 41004 Sevilla, SpainDepartment of Electrical Engineering, Universidad de Sevilla, 41004 Sevilla, SpainDepartment of Electrical Engineering, Information Technology and Cybernetics, University of South-Eastern Norway, 3918 Porsgrunn, NorwayDepartment of Electrical Engineering, Universidad de Sevilla, 41004 Sevilla, SpainThe European Union considers that offshore wind power will play a key role in making the EU the first climate-neutral continent by 2050. Currently, the potential of offshore wind energy is still untapped in Spain. Furthermore, the characteristics of the coastline in Spain require floating technology, making it challenging to install wind farms due to their current high cost. This work seeks to quantify the impact that Spanish offshore wind energy would have on the Iberian electricity market. Several offshore wind scenarios are evaluated by combining available information in relation to areas suitable for installing wind farms and wind resource data. The impact on the day-ahead electricity market has been obtained by reproducing the market, including these new offshore wind generation scenarios. The introduction of this renewable energy results in a market cost reduction in what is known as the merit-order effect. According to our estimates, for each MWh of offshore wind energy introduced in the market, there would be a market cost reduction of 45 €. These savings can serve as a reference for regulators to adjust their policy framework to boost floating wind offshore generation.https://www.mdpi.com/1996-1073/14/15/4481floating offshore wind farmday-ahead marketmerit-order effectoffshore wind energy |
| spellingShingle | Juan-Manuel Roldan-Fernandez Javier Serrano-Gonzalez Francisco Gonzalez-Longatt Manuel Burgos-Payan Impact of Spanish Offshore Wind Generation in the Iberian Electricity Market: Potential Savings and Policy Implications Energies floating offshore wind farm day-ahead market merit-order effect offshore wind energy |
| title | Impact of Spanish Offshore Wind Generation in the Iberian Electricity Market: Potential Savings and Policy Implications |
| title_full | Impact of Spanish Offshore Wind Generation in the Iberian Electricity Market: Potential Savings and Policy Implications |
| title_fullStr | Impact of Spanish Offshore Wind Generation in the Iberian Electricity Market: Potential Savings and Policy Implications |
| title_full_unstemmed | Impact of Spanish Offshore Wind Generation in the Iberian Electricity Market: Potential Savings and Policy Implications |
| title_short | Impact of Spanish Offshore Wind Generation in the Iberian Electricity Market: Potential Savings and Policy Implications |
| title_sort | impact of spanish offshore wind generation in the iberian electricity market potential savings and policy implications |
| topic | floating offshore wind farm day-ahead market merit-order effect offshore wind energy |
| url | https://www.mdpi.com/1996-1073/14/15/4481 |
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