The Evolution of the Market: Designing a Market for High Levels of Variable Generation
Date Published: November 2015
Authors: Mark Ahlstrom, Erik Ela, Jenny Riesz, Jonathan O’Sullivan, Benjamin Hobbs, Mark O’Malley, Michael Milligan, Paul Sotkiewicz, Jim Caldwell
This paper surveys the impacts of growing renewable energy generation on energy markets, identifying where problems are expected to appear and market design solutions to address them. Examples of market design changes from around the world and in different U.S. markets are weighed as solutions to the emerging needs of the grid. Procuring flexibility (especially ramping resources), efficient planning and investment, and integration of distributed generation and demand-side participation are given special attention.