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Grid parity of solar energy: imminent fact or future's fiction

Spiros Papaefthimiou, Manolis Souliotis, and Kostas Andriosopoulos

Year: 2016
Volume: Volume 37
Number: Bollino-Madlener Special Issue
DOI: 10.5547/01956574.37.SI2.spap
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Abstract:
One of the major questions related to renewable energy systems is whether we are approaching solar grid parity or not. Solar based power generation will play an important role in future sustainable energy mixes due to its high reliability, yield predictability and capacity for electricity production during peak demand when the electricity price is usually high. But nowadays the economic viability of these technologies depends on the subsidies usually granted, mainly by public authorities, and in a minor way by electricity producers. The article evaluates the potential of solar energy based technologies for viable electricity generation, focusing on Photovoltaics (PV) and Concentrated Solar Power (CSP) systems. The evaluation was not only focused on EU but also covered global markets, assessing the necessary barriers and thresholds preventing or boosting these technologies to reach grid parity. The observed rapid growth in deployment of the studied technologies (especially PV) in recent years is largely policy-driven and whether this trend will be sustainable depends on whether governments will continue to expand financial incentives and policy mandates, as well as address regulatory and market barriers. Keywords: Solar energy, Grid parity, Photovoltaics, Concentrated Solar Power systems.



The New Era of Energy Transition: Challenges, Investment Opportunities and Technological Innovations

Kostas Andriosopoulos and Spiros Papaefthimiou

Year: 2019
Volume: Volume 40
Number: The New Era of Energy Transition
DOI: 10.5547/01956574.40.SI1.kand
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Abstract:
It is an undeniable fact that we are witnessing a new evolving era in the global energy scenery. This non-stable situation poses serious questions, challenges and opportunities for countries, industries, professionals and academics. The objective of this special issue is to focus on the energy sector which should constantly adapt to global and local uncertain environments due to continuously changing geopolitical and social conditions, and to present new research results in the areas of decision-making mechanisms in the energy markets and energy pricing, smart networks design and management, environmental and energy efficiency analysis. In summary, the papers in this issue touch upon a range of central topics in the fields of energy and related markets, pointing at major existing and future energy and environmental challenges. All these stimulating views provide both policymakers and market participants with the utmost important research output for policy development and monitoring purposes.



Could Market Making be Profitable in The European Carbon Market?

Emilios Galariotis, Iordanis Kalaitzoglou, Kyriaki Kosmidou, Spiros Papaefthimiou, and Spyros I. Spyrou

Year: 2019
Volume: Volume 40
Number: The New Era of Energy Transition
DOI: 10.5547/01956574.40.SI1.egal
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Abstract:
We investigate when market making can be profitable in the European Carbon Futures market, by developing an order type selection rule, based solely on transaction level data. We employ a granular approach that uses an observable variable, i.e. trading intensity, to extract the liquidity and information price components and we investigate their impact on spreads, volatility and ultimately on the profitability of different order types. We find that market orders are always less profitable than limit orders. In addition, market makers are expected to derive most of their profits in a low trading intensity environment, mainly due to higher liquidity commissions and a lower probability of dealing with better informed agents. In contrast, an unconditional limit order submission strategy from an off-floor trader should not be preferred, apart from a medium trading intensity environment, where information and liquidity premia adequately compensate them for execution and information risk.





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