New publication in Renewable Energy on multi-scale climate variability and electricity prices
Our paper, “Quantifying the Impact of Multi-scale Climate Variability on Electricity Prices in a Renewable-dominated Power Grid” by E. Kabir, V. Srikrishnan, V. Liu, S. Steinschneider, and L. Anderson, has been published in Renewable Energy.
Overview
The paper quantifies how climate variability — across daily, seasonal, and multi-year time scales — translates into electricity price behavior when a power grid is dominated by renewables. The analysis separates out the relative contributions of short-term weather fluctuations and longer climate cycles.
Takeaway
Price volatility under high-renewable conditions is not driven by a single time scale. Grid planners and market designers need to account for the full spectrum of climate variability when evaluating future market outcomes.