Wind Power and Electricity Prices at the PJM Market

摘要: Increased deployment of wind-power generation is changing the landscape power supply around world. When integrated with electricity markets, wind also widely known to influence prices cleared at market. This paper examines effect on day-ahead market in PJM using robust econometric models and statistical inference. Results show that quantified expected benefits wholesale participants may be substantial despite relatively low penetration levels still observed within jurisdiction relative other markets. The unitary outweigh, by a great margin, renewable energy credits given qualifying farms across outweigh costs incurred generate them, welfare accrued. To this end, benefit allocation mechanisms are proposed, which contribute continued development roadmap cleaner industry future.