Project goals:
- Provide new insight into the power market modeling needs and knowledge about possible patterns for dispatch and price formation.
- Build competence on how to represent new technologies within power market models.
- Develop a new research prototype power market model suited to analyze a 100% renewable electricity system.
- Establish scenarios of a 100% renewable European/Northern-European electricity system.
Climate and energy policy targets of the European Commission aim to make Europe the first climate-neutral continent by 2050. This will require large-scale deployment of variable renewable energy sources (VRES), such as wind and solar power, and a gradual phase-out of dispatchable fossil-fueled generation technologies.
This pushes forward a need for entrance of new dispatchable resources to ensure a reliable and affordable power system.
In the Nordic part of the system, the existing hydropower facilities will play a crucial role as a dispatchable renewable generation technology, balancing the variability in VRES. However, more flexibility is needed on both the supply and demand side, and several new technologies have the potential to further contribute to this need.
The RES100 project takes the perspective of a 100% renewable European electricity system, emphasizing the Northern European part of the system where hydropower will play a crucial role also in the future.
The project will provide new insight into the power market modeling needs and knowledge about possible patterns for dispatch and price formation in the Nordic region in a fully renewable European electricity system.
New technologies on both the supply and demand side need to be adequately represented in future power market models, and there is a need to better understand the effect of increasing short-term flexibility and uncertainty on water values and operational patterns for the hydropower system.
To accommodate these needs, this project will develop new methodologies and algorithms to be integrated in a new research prototype power market model, suitable to analyze a 100% renewable electricity system at the scale of Europe/Northern-Europe. Scenarios for a fully renewable electricity system will be established to facilitate model testing, verification, and analyses.
Project partners:
- NTNU
- Statkraft
- Haflsund Eco Vannkraft
- Å Energi Fornybar Forvaltning
- Lyse Produksjon
- Hydro Energi
- Fraunhofer Institute for Energy Economics and Energy System Technology
- Technical Research Centre of Finland
This is a Collaborative and Knowledge-building Project partly financed by the Research Council of Norway.
