Optimal Dynamic Management of a Renewable Energy Source under Uncertainty

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Ressource 1Télécharger: BIB_DC503AA380B8.P001.pdf (597.55 [Ko])
Etat: Public
Version: de l'auteur⸱e
ID Serval
serval:BIB_DC503AA380B8
Type
Non publié: un document ayant un auteur et un titre, mais non publié.
Collection
Publications
Titre
Optimal Dynamic Management of a Renewable Energy Source under Uncertainty
Auteur⸱e⸱s
Bobtcheff Catherine
Date de publication
2007
Notes
Cahier du LERNA 06.21.214 - submitted for publication
Résumé
We consider a risk averse and prudent social planner who has access to different energy sources to produce electricity: hydroelectricity produced with a dam and thermal electricity with unlimited supply at some exogenous cost. The dam is supplied with a random water flow. The presence of constraints on a minimal and on a maximal storage capacity makes electricity consumption smoothing possible only when the quantity of water available to the agent lies in a certain range that we determine. Consumption smoothing is possible even when the dam is almost empty thanks to the alternative costly energy source. Moreover a comparative static analysis reveals that the marginal propensity to produce hydroelectricity is an increasing function of the cost of the second technology. Therefore, the availability at a low cost of the fossil source improves time diversification. Finally, the optimal electric park is composed of a number of dams that is increasing with the cost of the second technology.
Mots-clé
K3
Création de la notice
19/11/2007 10:50
Dernière modification de la notice
20/08/2019 16:01
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