Universität zu Köln

Siala, Kais ORCID: 0000-0002-9080-0014, Mier, Mathias ORCID: 0000-0001-6778-5939, Schmidt, Lukas, Torralba-Diaz, Laura ORCID: 0000-0002-2228-2921, Sheykhha, Siamak and Savvidis, Georgios (2022). Which model features matter? An experimental approach to evaluate power market modeling choices. Energy, 245. OXFORD: PERGAMON-ELSEVIER SCIENCE LTD. ISSN 1873-6785

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Abstract

A novel experimental approach of inter-and intramodel comparisons is conducted with five power market models to give recommendations for modelers working on decarbonization pathways of Europe until 2050. The experiments investigate the impact of model type (optimization vs. simulation), planning horizon (intertemporal vs. myopic), temporal resolution (8760 vs. 384 h), and spatial resolution (28 countries vs. 12 mega-regions). The model type fundamentally determines the evolution of capacity expansion. Planning horizon (assumed foresight of firms) plays a minor role for scenarios with high carbon prices. For low carbon prices in turn, results from myopic models deviate considerably from those of intertemporal models. Lower temporal and spatial resolutions foster wind power via storage and via neglected transmission boundaries, respectively. Using simulation instead of optimization frameworks, a shorter planning horizon of firms, or lower temporal and spatial resolutions might be necessary to reduce the computational complexity. This paper delivers recommendations on how to limit the dis-crepancies in such cases. (c) 2022 Elsevier Ltd. All rights reserved.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Siala, Kais UNSPECIFIED orcid.org/0000-0002-9080-0014 UNSPECIFIED Mier, Mathias UNSPECIFIED orcid.org/0000-0001-6778-5939 UNSPECIFIED Schmidt, Lukas UNSPECIFIED UNSPECIFIED UNSPECIFIED Torralba-Diaz, Laura UNSPECIFIED orcid.org/0000-0002-2228-2921 UNSPECIFIED Sheykhha, Siamak UNSPECIFIED UNSPECIFIED UNSPECIFIED Savvidis, Georgios UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-684979
DOI:	10.1016/j.energy.2022.123301
Journal or Publication Title:	Energy
Volume:	245
Date:	2022
Publisher:	PERGAMON-ELSEVIER SCIENCE LTD
Place of Publication:	OXFORD
ISSN:	1873-6785
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language ENERGY; IMPACT; FLEXIBILITY; STORAGE Multiple languages Thermodynamics; Energy & Fuels Multiple languages
URI:	http://kups.ub.uni-koeln.de/id/eprint/68497