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On the means, costs, and system-level impacts of 24/7 carbon-free energy procurement

Authors: Riepin, Iegor; Brown, Tom;

On the means, costs, and system-level impacts of 24/7 carbon-free energy procurement

Abstract

A growing number of public and private energy buyers are interested in 24/7 carbon-free energy (CFE) procurement, which means that every kilowatt-hour of electricity consumption is met by carbon-free sources at all times. It has the potential to overcome the limitations of established procurement schemes, such as the temporal mismatch between clean electricity supply and buyers’ demand that is inherent to “volumetric” matching. Yet it is unclear how 24/7 CFE procurement affects the rest of the power system, and whether this effect is consistent across regional contexts and different levels of system cleanness. We use a mathematical model to systematically examine different designs, optimal procurement strategies, costs, and impacts of the 24/7 CFE matching, both for participating buyers and for regions where voluntary procurement occurs. We examine mechanisms driving system-level emissions reduction and how they vary across regions and over time. Our results indicate that clean energy procurement commitments have consistent beneficial effects on participants and the electricity system. Utilising an hourly matching strategy, energy buyers can eliminate all carbon emissions linked to their electricity consumption, while also reducing system-level emissions by up to 572 kgCO/a per MWh of participating load. Even as grids become cleaner over time, the hourly matching strategy contributes significantly to system-level emissions reduction. In addition, voluntary commitments to 24/7 CFE have a further transformative effect on electricity systems through accelerated innovation and early deployment of advanced energy technologies.

Country
Germany
Related Organizations
Keywords

Physics - Physics and Society, Renewable energy, energy modelling, FOS: Physical sciences, Physics and Society (physics.soc-ph), Energy modelling, 90-10, Energy industries. Energy policy. Fuel trade, renewable energy, 300 Sozialwissenschaften::330 Wirtschaft::333 Boden- und Energiewirtschaft, 24/7 carbon-free electricity, clean electricity procurement, Clean electricity procurement, HD9502-9502.5

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    selected citations
    These citations are derived from selected sources.
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    17
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Top 10%
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Top 10%
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Top 10%
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
17
Top 10%
Top 10%
Top 10%
Green
gold