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DTSTART:20070311T020000
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DTSTAMP:20261002T075849
DTSTART;TZID=America/Detroit:20261007T093000
DTEND;TZID=America/Detroit:20261007T105000
SUMMARY:Workshop / Seminar:Plugging in the Wind and Sun: Grid Integration with Cost Externalities and Uncertainty\, joint with Gautam Gowrisankaran and Nicholas Ryan
DESCRIPTION:There is currently 140% as much renewable power capacity seeking to connect to the U.S. electric grid as total installed capacity. This backlog may result from project interdependencies causing uncertainty over how these costs evolve. We study the interconnection queue by which projects connect to the California electric grid. We find evidence of both congestion and cost sharing between projects\, and that many projects exit the queue quickly after their initial cost assessment. We embed these descriptive findings in a dynamic equilibrium model where potential projects choose to enter the queue\, face interdependent costs that evolve over time\, and ultimately decide whether to exit or sign a contract to connect. Counterfactuals show that removing insurance against cost reassessment increases decreases inter- connection costs 14.4%\, but auctioning spare grid capacity only encourages more profitable projects to contract.
UID:152048-21912765@events.umich.edu
URL:https://events.umich.edu/event/152048
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Economics,Energy,Environment,seminar
LOCATION:North Quad - 4300
CONTACT:
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