{"id":48250,"date":"2023-11-20T15:35:41","date_gmt":"2023-11-20T14:35:41","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/integrated-power-and-economic-analysis-of-austrias-renewable-electricity-transformation\/"},"modified":"2024-04-22T19:32:27","modified_gmt":"2024-04-22T17:32:27","slug":"integrated-power-and-economic-analysis-of-austrias-renewable-electricity-transformation","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/48250\/","title":{"rendered":"Integrated Power and Economic Analysis of Austria's Renewable Electricity Transformation"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-48250","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"In this paper, we present a novel approach of linking the technical model of the continental European electricity system ATLANTIS with the macroeconomic model DYNK to provide comprehensive integrated power and socio-economic analyses. We thoroughly describe both models and explain the work that has been done to interlink the models. Further, we take Austria's generation expansion plans to transform the electricity sector to 100 percent renewable energy sources (national balance) by 2030 and analyse the effects of different CO2<\/sub> prices on the electricity demand that couples the two models via a feedback loop. As the electricity price and demand are interlaced and influence each other, the linked models are solved iteratively until convergence, i.e., until the change of the electricity demand from the DYNK model does not affect the electricity price in the ATLANTIS model anymore. The results show that coupling a technical and macroeconomic model is possible and convergence is achieved after just a few iterations.","onlinedate":"2023-01-13 12:00:00","lang":"English","publication_series":"","publication_date":"20230101","publication_date_year":"","publication_date_full":false,"publication_num_pages":"22","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":259686,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"657","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":"2023-01-13 12:00:00","types":[44410],"research_groups":[3655,3491],"collaboration":"","persons":[18123,3743,3652,18125,18129,18127,3705,15805,18131],"persons_data":"[{\"personId\":18123,\"personName\":\"Robert Gaugl\",\"organisationNames\":[]},{\"personId\":3743,\"personName\":\"Mark Sommer\",\"organisationNames\":[]},{\"personId\":3652,\"personName\":\"Claudia Kettner\",\"organisationNames\":[]},{\"personId\":18125,\"personName\":\"Udo Bachhiesl\",\"organisationNames\":[]},{\"personId\":18129,\"personName\":\"Thomas Florian Klatzer\",\"organisationNames\":[]},{\"personId\":18127,\"personName\":\"Lia Gruber\",\"organisationNames\":[]},{\"personId\":3705,\"personName\":\"Michael B\u00f6heim\",\"organisationNames\":[]},{\"personId\":15805,\"personName\":\"Kurt Kratena\",\"organisationNames\":[]},{\"personId\":18131,\"personName\":\"Sonja Wogrin\",\"organisationNames\":[]}]","clients":[10642],"subclients":[],"partners":[8870,9348],"topics":[40961],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"
Gaugl, R., Sommer, M.<\\\/span>, Kettner, C.<\\\/span>, Bachhiesl, U., Klatzer, T. F., Gruber, L., B\u00f6heim, M.<\\\/span>, Kratena, K., & Wogrin, S. (2023). Integrated Power and Economic Analysis of Austria's Renewable Electricity Transformation<\\\/span>. WIFO Working Papers<\\\/em><\\\/span>, (657).<\\\/div>\",\"vancouver\":\"
Gaugl R, Sommer M<\\\/span>, Kettner C<\\\/span>, Bachhiesl U, Klatzer TF, Gruber L et al. Integrated Power and Economic Analysis of Austria's Renewable Electricity Transformation<\\\/span><\\\/span>. WIFO Working Papers<\\\/span>. 2023 Jan;(657).<\\\/div>\",\"bibtex\":\"
@misc{929de542572542148370f561182b7eca,<\\\/div>
title = \\\"Integrated Power and Economic Analysis of Austria's Renewable Electricity Transformation\\\",<\\\/div>
abstract = \\\"In this paper, we present a novel approach of linking the technical model of the continental European electricity system ATLANTIS with the macroeconomic model DYNK to provide comprehensive integrated power and socio-economic analyses. We thoroughly describe both models and explain the work that has been done to interlink the models. Further, we take Austria's generation expansion plans to transform the electricity sector to 100 percent renewable energy sources (national balance) by 2030 and analyse the effects of different CO2 prices on the electricity demand that couples the two models via a feedback loop. As the electricity price and demand are interlaced and influence each other, the linked models are solved iteratively until convergence, i.e., until the change of the electricity demand from the DYNK model does not affect the electricity price in the ATLANTIS model anymore. The results show that coupling a technical and macroeconomic model is possible and convergence is achieved after just a few iterations.\\\",<\\\/div>
keywords = \\\"Renewable energy, Macroeconomic modelling, Electricity economics, DC-OPF, Model linkage, Austria\\\",<\\\/div>
author = \\\"Robert Gaugl and Mark Sommer and Claudia Kettner and Udo Bachhiesl and Klatzer, \\\\{Thomas Florian\\\\} and Lia Gruber and Michael B{\\\\\\\"o}heim and Kurt Kratena and Sonja Wogrin\\\",<\\\/div>
note = \\\"Integrated Power and Economic Analysis of Austria's Renewable Electricity Transformation\\\",<\\\/div>
year = \\\"2023\\\",<\\\/div>
month = jan,<\\\/div>
language = \\\"English\\\",<\\\/div>
journal = \\\"WIFO Working Papers\\\",<\\\/div>

}<\\\/p><\\\/div>\",\"ris\":\"

TY - GEN<\\\/p>

T1 - Integrated Power and Economic Analysis of Austria's Renewable Electricity Transformation<\\\/p>

AU - Gaugl, Robert<\\\/p>

AU - Sommer, Mark<\\\/p>

AU - Kettner, Claudia<\\\/p>

AU - Bachhiesl, Udo<\\\/p>

AU - Klatzer, Thomas Florian<\\\/p>

AU - Gruber, Lia<\\\/p>

AU - B\u00f6heim, Michael<\\\/p>

AU - Kratena, Kurt<\\\/p>

AU - Wogrin, Sonja<\\\/p>

N1 - Integrated Power and Economic Analysis of Austria's Renewable Electricity Transformation<\\\/p>

PY - 2023\\\/1<\\\/p>

Y1 - 2023\\\/1<\\\/p>

N2 - In this paper, we present a novel approach of linking the technical model of the continental European electricity system ATLANTIS with the macroeconomic model DYNK to provide comprehensive integrated power and socio-economic analyses. We thoroughly describe both models and explain the work that has been done to interlink the models. Further, we take Austria's generation expansion plans to transform the electricity sector to 100 percent renewable energy sources (national balance) by 2030 and analyse the effects of different CO2 prices on the electricity demand that couples the two models via a feedback loop. As the electricity price and demand are interlaced and influence each other, the linked models are solved iteratively until convergence, i.e., until the change of the electricity demand from the DYNK model does not affect the electricity price in the ATLANTIS model anymore. The results show that coupling a technical and macroeconomic model is possible and convergence is achieved after just a few iterations.<\\\/p>

AB - In this paper, we present a novel approach of linking the technical model of the continental European electricity system ATLANTIS with the macroeconomic model DYNK to provide comprehensive integrated power and socio-economic analyses. We thoroughly describe both models and explain the work that has been done to interlink the models. Further, we take Austria's generation expansion plans to transform the electricity sector to 100 percent renewable energy sources (national balance) by 2030 and analyse the effects of different CO2 prices on the electricity demand that couples the two models via a feedback loop. As the electricity price and demand are interlaced and influence each other, the linked models are solved iteratively until convergence, i.e., until the change of the electricity demand from the DYNK model does not affect the electricity price in the ATLANTIS model anymore. The results show that coupling a technical and macroeconomic model is possible and convergence is achieved after just a few iterations.<\\\/p>

KW - Renewable energy<\\\/p>

KW - Macroeconomic modelling<\\\/p>

KW - Electricity economics<\\\/p>

KW - DC-OPF<\\\/p>

KW - Model linkage<\\\/p>

KW - Austria<\\\/p>

M3 - WIFO series<\\\/p>

JO - WIFO Working Papers<\\\/p>

JF - WIFO Working Papers<\\\/p>

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