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Non-renewable and intermittent renewable energy sources: Friends and foes?

Abstract : This paper studies the links between non-renewable and intermittent renewable energy sources in the production of electricity. Using U.S. state-level data from 1998 to 2015, we find that the relationship between the price of natural gas and investments in solar and wind capacity is non-linear and can be represented by an inverted U shape. Hence, for relatively low natural gas prices, the two modes of production are substitutes. After a price threshold is reached, the two are complementary. A theoretical explanation argues that this stylized fact is the result of a trade-off between two characteristics of these modes of production: the high degree of flexibility of electricity production using natural gas as an input and the low marginal cost of renewable energy sources.
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Soumis le : vendredi 22 décembre 2017 - 15:20:57
Dernière modification le : jeudi 19 mai 2022 - 16:04:07

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Edmond Baranes, Julien Jacqmin, Jean-Christophe Poudou. Non-renewable and intermittent renewable energy sources: Friends and foes?. Energy Policy, Elsevier, 2017, 111, pp.58 - 67. ⟨10.1016/j.enpol.2017.09.018⟩. ⟨hal-01671723⟩



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