Artikel
Local Energy Markets
In current power markets, the bulk of electricity is sold wholesale and transported to consumers via long‐distance transmission lines. Recently, decentralized local energy markets have evolved, often as isolated networks based on solar generation. We analyze strategic pricing, investment, and welfare in local energy markets. We show that local energy markets yield competitive equilibrium prices and provide efficient investment incentives. Yet, we find that strategic behavior leads to allocative inefficiency. We propose a clearing mechanism that induces truth‐telling behavior and restores first‐best welfare.
- Language
-
Englisch
- Bibliographic citation
-
Journal: The Journal of Industrial Economics ; ISSN: 1467-6451 ; Volume: 71 ; Year: 2023 ; Issue: 3 ; Pages: 855-882 ; Hoboken, NJ: Wiley
- Classification
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Wirtschaft
- Event
-
Geistige Schöpfung
- (who)
-
Baake, Pio
Schwenen, Sebastian
von Hirschhausen, Christian
- Event
-
Veröffentlichung
- (who)
-
Wiley
- (where)
-
Hoboken, NJ
- (when)
-
2023
- DOI
-
doi:10.1111/joie.12338
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Baake, Pio
- Schwenen, Sebastian
- von Hirschhausen, Christian
- Wiley
Time of origin
- 2023
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