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Residential demand for energy in light of changing solar prices
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-26 DOI: 10.1016/j.eneco.2025.108351
Rafael Bakhtavoryan , Vardges Hovhannisyan , Matt Woerman
{"title":"Residential demand for energy in light of changing solar prices","authors":"Rafael Bakhtavoryan ,&nbsp;Vardges Hovhannisyan ,&nbsp;Matt Woerman","doi":"10.1016/j.eneco.2025.108351","DOIUrl":"10.1016/j.eneco.2025.108351","url":null,"abstract":"<div><div>The residential solar market has been growing steadily during the past decade, driven primarily by falling solar energy prices. This trend will indubitably continue into the near future, given the ever-improving solar panel energy-generating capacity and the resultant drop in solar energy costs. These unprecedented changes have major implications for solar energy consumption but also those of other energy sources and consumer welfare.</div><div>We evaluate the effects of the solar price changes on the residential consumption of natural gas, electricity, petroleum, solar energy, and wood in a demand system framework that allows quantifying demand interrelationships thereof. Our pioneering effort utilizes a state-of-the-art demand system that allows for potential pre-commitments in energy consumption while addressing energy expenditure endogeneity. We empirically confirm that most energy sources are net demand substitutes and find that natural gas, electricity, and wood are consumed in pre-committed quantities. Based on our elasticity estimates, we further evaluate the effects of dropping solar prices on energy consumption by source and consumer welfare and assess the investment tax credit program-induced tax revenue consequences.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108351"},"PeriodicalIF":13.6,"publicationDate":"2025-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Comparison of indicator saturation and Markov regime-switching models for Brazilian electricity prices
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-26 DOI: 10.1016/j.eneco.2025.108341
Marcos de Castro Matias, Benjamin Miranda Tabak
{"title":"Comparison of indicator saturation and Markov regime-switching models for Brazilian electricity prices","authors":"Marcos de Castro Matias,&nbsp;Benjamin Miranda Tabak","doi":"10.1016/j.eneco.2025.108341","DOIUrl":"10.1016/j.eneco.2025.108341","url":null,"abstract":"<div><div>In this study, we compared the results obtained from the application of two different approaches to model Brazilian electricity prices. One of them is the Indicator Saturation model, which consider simultaneously impulse, step, trend events and autocorrelation. The other one is the Markov regime-switching model. We considered the marginal operating cost as the Brazilian electricity spot price, and the study was applied in the four different Brazilian submarkets. We concluded that the Indicator Saturation approach outperforms the regime-switching model in terms of outlier detection. We discussed the relevance of this study as a response to the increase in electricity price volatility caused by the energy transition, as well as to enrich the debate related to the possible change in the methodology for calculating the Brazilian electricity spot price within the framework of the electricity sector reform underway in Brazil.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108341"},"PeriodicalIF":13.6,"publicationDate":"2025-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143578603","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Spatial distribution and drivers of renewable energies in European regions
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-26 DOI: 10.1016/j.eneco.2025.108340
Álvaro García-Riazuelo , Rosa Duarte , Cristina Sarasa , Raquel Ortega-Argilés
{"title":"Spatial distribution and drivers of renewable energies in European regions","authors":"Álvaro García-Riazuelo ,&nbsp;Rosa Duarte ,&nbsp;Cristina Sarasa ,&nbsp;Raquel Ortega-Argilés","doi":"10.1016/j.eneco.2025.108340","DOIUrl":"10.1016/j.eneco.2025.108340","url":null,"abstract":"<div><div>The energy transition is a complex process that varies significantly among European regions. This research uses spatial econometric panel models to investigate the evolution of wind and photovoltaic (PV) energy in Europe throughout the 21st century by identifying the main drivers (socioeconomic, institutional, geographic and demographic factors) of renewable energy capacity in European regions. The study reveals high heterogeneity in the development of these renewable energy sources. GDP per capita shows a positive relationship with both technologies, while the opposite is found for population density. While natural resource factors considered here do not seem to considerable impact the location of wind and PV farms, the pattern of territorial technology diffusion through spatial spillovers stand out as a determining factor in the wind and photovoltaic energy place-based evolutionary processes.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108340"},"PeriodicalIF":13.6,"publicationDate":"2025-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550535","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Corrigendum to “Connectivity and spillover during crises: Highlighting the prominent and growing role of green energy” [Energy Economics Volume 129, January 2024, 107224]
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-26 DOI: 10.1016/j.eneco.2025.108326
Ameet Kumar Banerjee , Ahmet Sensoy , John W. Goodell
{"title":"Corrigendum to “Connectivity and spillover during crises: Highlighting the prominent and growing role of green energy” [Energy Economics Volume 129, January 2024, 107224]","authors":"Ameet Kumar Banerjee ,&nbsp;Ahmet Sensoy ,&nbsp;John W. Goodell","doi":"10.1016/j.eneco.2025.108326","DOIUrl":"10.1016/j.eneco.2025.108326","url":null,"abstract":"","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108326"},"PeriodicalIF":13.6,"publicationDate":"2025-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143488950","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Coordinated bidding in sequential electricity markets: Effects of price-making
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-25 DOI: 10.1016/j.eneco.2025.108316
Kim K. Miskiw , Emil Kraft , Stein-Erik Fleten
{"title":"Coordinated bidding in sequential electricity markets: Effects of price-making","authors":"Kim K. Miskiw ,&nbsp;Emil Kraft ,&nbsp;Stein-Erik Fleten","doi":"10.1016/j.eneco.2025.108316","DOIUrl":"10.1016/j.eneco.2025.108316","url":null,"abstract":"<div><div>As the uncertainty and time granularity of short-term electricity markets increase and as intraday trading gains importance, deriving good trading decisions becomes increasingly complex. This paper analyses the potential benefit of coordinating bids in three sequential electricity markets using a three-stage stochastic optimisation. The modelled markets include a typical European market setting consisting of a balancing reserve, a day-ahead, and an intraday market. Due to limited intraday market liquidity, the trading strategies also take price impacts into account. The results indicate that coordinated bidding can increase profitability, with the extent of gains depending on the price impacts. In a case study with a biomass and photovoltaic portfolio operating in Germany, we find that coordinated bidding increases the average revenue by around 18% over all analysed type days. As renewable generation continues to increase, trading strategies that coordinate bids across markets are expected to become increasingly important.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108316"},"PeriodicalIF":13.6,"publicationDate":"2025-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143578600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Is there a robust hedging method during the COVID-19 pandemic? Evidence from Chinese crude oil futures
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-25 DOI: 10.1016/j.eneco.2025.108329
Qianjie Geng
{"title":"Is there a robust hedging method during the COVID-19 pandemic? Evidence from Chinese crude oil futures","authors":"Qianjie Geng","doi":"10.1016/j.eneco.2025.108329","DOIUrl":"10.1016/j.eneco.2025.108329","url":null,"abstract":"<div><div>This paper focuses on finding an excellent and robust hedging method during the COVID-19 pandemic. We develop a novel hedging framework based on the conventional approach for the Chinese oil futures market. Commonly used hedging models are employed to compare hedging performance under these methodological frameworks. Our results show that the proposed shrinking hedging framework demonstrates the highest hedging effectiveness among all the competitors, especially during the COVID-19 pandemic. The main findings also stand up to several robustness tests. Moreover, the empirical results reveal that the superior performance of our shrinking method can be attributed to the high estimation error of minimum-variance hedging strategies.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108329"},"PeriodicalIF":13.6,"publicationDate":"2025-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143529430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Optimal participation of wind power producers in a hybrid intraday market: A multi-stage stochastic approach
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-25 DOI: 10.1016/j.eneco.2025.108303
Miguel Carrión , Ruth Domínguez , Giorgia Oggioni
{"title":"Optimal participation of wind power producers in a hybrid intraday market: A multi-stage stochastic approach","authors":"Miguel Carrión ,&nbsp;Ruth Domínguez ,&nbsp;Giorgia Oggioni","doi":"10.1016/j.eneco.2025.108303","DOIUrl":"10.1016/j.eneco.2025.108303","url":null,"abstract":"<div><div>The Single Intraday Coupling has imposed the integration of the European intraday electricity markets, taking as a benchmark the continuous trading structure. This has implied the creation of hybrid intraday electricity markets, defined as a mix of continuous and auction-based trading sessions, in those European countries with a former full auction system for this market. In this context, this paper proposes a multi-stage stochastic programming model for deciding the optimal participation of a wind power producer in a hybrid intraday market. This decision is made considering the possibility of participating in subsequent trading sessions, represented by a first continuous-intraday session, followed by an auction-based session and, then, a second section of the continuous intraday. As a final step, in the balancing market, the wind power producer can adjust its energy balance according to the wind power availability. The wind power availability, the prices in the intraday auction session and in the balancing market, and the acceptability of orders in the continuous sessions have been modelled as stochastic parameters. The risk level of the wind producer is represented in the formulation through the CVaR. By doing a deep study of the Spanish intraday market outcomes, we design a realistic case study and conduct several sensitivity analyses regarding the wind power availability, the prices in the market, the possibility of or not of participating in subsequent trading sessions, and the risk level. The main conclusions are: (i) arbitrage is observed in the participation of the wind power producer in the continuous and auction-based intraday sessions, especially under a risk-neutral perspective, (ii) the participation in the intraday continuous session is strongly influenced by the possibility of participating afterwards in the auction session, and (iii) the bidding strategy of a risk-averse wind power producer is mainly linked to the available wind power.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108303"},"PeriodicalIF":13.6,"publicationDate":"2025-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550528","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Towards a just transition: Unpacking the gender differences in household cleaner energy use
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-25 DOI: 10.1016/j.eneco.2025.108344
Maneka Jayasinghe , Rohan Best , E.A. Selvanathan , Saroja Selvanathan
{"title":"Towards a just transition: Unpacking the gender differences in household cleaner energy use","authors":"Maneka Jayasinghe ,&nbsp;Rohan Best ,&nbsp;E.A. Selvanathan ,&nbsp;Saroja Selvanathan","doi":"10.1016/j.eneco.2025.108344","DOIUrl":"10.1016/j.eneco.2025.108344","url":null,"abstract":"<div><div>Energy transition intersects between many of the United Nations' Sustainable Development Goals. Lack of access to cleaner energy is a main concern of injustice in energy transition policy. Women, especially in developing countries, disproportionately endure the negative consequences of lack of access to cleaner energy particularly in relation to health, education and economic participation outcomes. This study, using four waves of Household Income and Expenditure survey data (2006/07, 2009/10, 2016 and 2019), examines the gender differences in domestic cleaner energy use in Sri Lanka, with a special emphasis on cleaner energy use gap across <em>de-jure</em> and <em>de-facto</em> female-headed households (FHHs). To provide deeper insights into gender differences in cleaner energy use, we utilise the Exogenous Switching Treatment Effect Regression (ESTER) estimation method and the Fairlie decomposition technique. The results indicate that significant differences exist between male-headed households (MHH) and FHH for cooking and lighting approaches among Sri Lankan households. MHH are less likely to use cleaner energy sources for cooking but more likely to use solid cooking fuel when headship-based heterogeneities are taken into consideration. The cleaner-cooking difference between MHH and FHH is most pronounced as assets grow. <em>De-jure</em> FHH are more likely than <em>de-facto</em> FHH to use transitional cooking.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108344"},"PeriodicalIF":13.6,"publicationDate":"2025-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550534","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Effect of natural resource extraction on school performance: Evidence from Texas
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-25 DOI: 10.1016/j.eneco.2025.108308
Anita R. Schiller, Aurélie Slechten
{"title":"Effect of natural resource extraction on school performance: Evidence from Texas","authors":"Anita R. Schiller,&nbsp;Aurélie Slechten","doi":"10.1016/j.eneco.2025.108308","DOIUrl":"10.1016/j.eneco.2025.108308","url":null,"abstract":"<div><div>This study examines the effects of oil and gas extraction activities on the educational outcomes of high school students in Texas, focusing on potential variations in these impacts among different demographic groups. We use school-level data from the Texas Academic Performance Reports between 2012–2020, with school performance measured by average scores on the <em>American College Test</em> (ACT). The primary variable of interest is the exposure to oil and gas activities, measured by changes in oil and gas revenues within each school district. The empirical approach controls for school characteristics, and student demographics. To address endogeneity concerns, we adopt an instrumental variable approach. Although the overall impact of oil and gas operations on average school ACT scores is not statistically significant, these activities do influence the relationship between student socioeconomic status and academic achievement. Specifically, for schools situated within districts that receive substantial oil and gas revenues, a small increase in the proportion of economically disadvantaged students is associated with a substantial decline in ACT scores.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108308"},"PeriodicalIF":13.6,"publicationDate":"2025-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143578597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Corrigendum to “Carbon emissions, environmental distortions, and impact on growth” [Energy Economics Volume 126, October 2023, 107040]
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-02-24 DOI: 10.1016/j.eneco.2025.108327
Tonmoy Choudhury , Umar Nawaz Kayani , Azeem Gul , Syed Arslan Haider , Sareer Ahmad
{"title":"Corrigendum to “Carbon emissions, environmental distortions, and impact on growth” [Energy Economics Volume 126, October 2023, 107040]","authors":"Tonmoy Choudhury ,&nbsp;Umar Nawaz Kayani ,&nbsp;Azeem Gul ,&nbsp;Syed Arslan Haider ,&nbsp;Sareer Ahmad","doi":"10.1016/j.eneco.2025.108327","DOIUrl":"10.1016/j.eneco.2025.108327","url":null,"abstract":"","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108327"},"PeriodicalIF":13.6,"publicationDate":"2025-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143478802","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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