Prediction Markets for Probabilistic Forecasting of Renewable Energy Sources

Competition in Electricity Markets with Renewable Energy Sources∗

This paper studies the effects of the diversification of energy portfolios on the merit order effect in an oligopolistic energy market. The merit order effect describes the negative impact of renewable energy, typically supplied at the low marginal cost, to the electricity market. We show when thermal generators have a diverse energy portfolio, meaning that they also control some or all of the ...

Prediction Markets for Economic Forecasting

Prediction Markets for Economic Forecasting Prediction markets – markets used to forecast future events – have been used to accurately forecast the outcome of political contests, sporting events, and, occasionally, economic outcomes. This chapter summarizes the latest research on prediction markets in order to further their utilization by economic forecasters. We show that prediction markets ha...

Renewable Energy Sources

Glossary Amorphous silicon (a-Si): A glassy alloy of silicon and hydrogen (about 10 percent) used in thin-film photovoltaic solar cells to convert sunlight to electricity. Anaerobic Digestion: Combustible gas called biogas produced from biomass through low temperature biological processes. Anthropogenic: Man made. Bagasse: The fiber residue that remains after juice extraction from sugarcane. Ba...

Energy Sources: Non Renewable and Renewable

The Role of Digitalization in Microgrid Including Renewable Energy Sources

Hybrid renewable energy systems (HRES) with potential environmental, economic and social benefits are designed to improve energy efficiency and reliability. In this study, artificial intelligence and smart grids were studied to supply electricity for a green cottage. The obtained results are essential for designing, implementing, and building HRES. Three cost-benefit and environmental, economic...