Principal spatiotemporal mismatch and electricity price patterns in a highly decarbonized networked European power system.

ABSTRACT: As the European power system decarbonizes, the variability of the mismatch between renewable generation and demand, as well as that of electricity prices, are expected to increase substantially. Because mismatch and prices show complex temporal and spatial interaction, we propose the use of principal component analysis (PCA) to investigate them. We unveil their main spatiotemporal patterns, examine their cross-correlation, and their dependence on the transmission capacity expansion and CO2 emissions reduction in a highly renewable cost-optimal electricity model. We find that the majority of variance in both the mismatch and price time series is explained by just three principal components (PCs). Hence, a convenient switch of basis vectors allows expressing the time series as combinations o

SUBMITTER: Schwenk-Nebbe LJ 

PROVIDER: S-EPMC9126784 | biostudies-literature | 2022 Jun

REPOSITORIES: biostudies-literature