Market Value

Market value_key figure

Energy Economics. The market value of wind decreases with the increase of wind market share. We explain why and quantify the value loss whith the help of empirical market data, quantitative literature review, and numerical modeling with EMMA. 30% wind in the system devalue wind-derived electricity by 20% – 40% in comparison to today. Article  |  free

Optimal Share

Optimal share_key figure

The Energy Journal. What is the welfare-optimal share of wind and solar energy in the european power mix? We present an overview over models which concern themselves with this question and provide our own estimates derived via EMMA. Benchmark assumptions put the optimal wind share at 20% – and solar share on zero.
Article  |  free  |  discussion


Redistribution_key figure

Energy Policy. The promotion of renewables raises electricity production and therefore lowers electricity prices. This pleases consumers but reduces profits of power plant operators. We quantify this re-distribution effect with EMMA and compare it with the (opposite) effect of CO2 trading.
Article  |  free

Balancing Power

Balancing_key figure

Renewable & Sustainable Energy Reviews. Because of their inherent forecasting errors wind and solar energy trigger a higher demand for balancing energy (15-60 MW per GW, depending on the estimate). The prices paid for these errors do not reflect the true costs of balancing energy. But renewables can also be a source of balancing energy – if the market entry barriers would be lowered.
Working paper  |  free

Economics of Electricity

The Energy Journal. Electricity is a particular good: perfectly homogenous, but still, prices fluctuate wildly within only a few hours. Simplistic metrics like “levelized electricity costs” and “net parity” are often misleading as they ignore this variability in electicity’s value.

System costs

Renewable Energy. Generation of wind and solar electricity is variable, subject to forecasting errors, and often the resulting energy has to be transported over great distances. We present these three characteristics as decreases in the value of electricity and quantify them, based on a literature review.
Article  |  free  |  award

Market Value of Solar

IET Renewable Power Generation. The market value of solar falls faster than that of wind – because solar generation is concentrated in relatively few hours of the year. Metrics like “net parity” ignore this and are therefore not suited to an economic evaluation.
Artikel  |  free

Wind, sun & balancing energy

energiewirtschaftliche tagesfragen. Between 2008 and 2013 cumulated solar and wind capacity in Germany has doubled. At the same time balancing energy could be reduced by 20%. A paradox of the Energiewende?
Article (German)  |  free  |  Chinese



List of publications

Click on the title to get to the article on the journals website. For a free preprint click on pdf or email me. Download all papers (zip) here.

Articles in peer-reviewed journals (main author)


Articles in peer-reviewed journals (Co-Autor)


Working papers / in review




Further publications




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