An article by Enikő Kácsor, senior research associate at REKK, has been recently published in the journal Energies. The paper assesses renewable energy supportJust like administratively set support, auction-allocated su... allocation through different types of auctions, based on the rules followed in the German photovoltaic (PV) Feed-in Premium auctions. It contains an extended levelised cost of electricity (or supportJust like administratively set support, auction-allocated su... need) calculation and a novel iterative approach to find a Nash-equilibrium bidding strategyAn (optimised) bidding strategy is a plan of actions that pr... in case of symmetric pay-as-bid auctions.
The results of the work suggest that the PV supportJust like administratively set support, auction-allocated su... allocation in the German auctionAn auction is a market mechanism with the aims of allocating... system would be more cost efficient using the uniform pricingDetermining the final price from the set of bids can be done... More rule, since many participants bid above their true valuation in the pay-as-bid auctionAn auction is a market mechanism with the aims of allocating... Nash-equilibrium. Thus from a cost minimising perspective, the application of uniform pricingDetermining the final price from the set of bids can be done... More rule would be a better policy decision.
The findings and methods developed in the study can be applied to other types of auctions and to other countries employing similar auctionAn auction is a market mechanism with the aims of allocating... designs, including Greece, Spain and Portugal.
The paper is available here.
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