آیا نوسان قیمت میتواند قدرت بازار را افزایش دهد؟ مورد فن آوری های تجدید پذیر در بازارهای رقابتی برق؟

This paper develops a two-stage model with endogenous capacity and operations to assess the practicality of photovoltaic technology (PV) in competitive electricity markets. Applying our model to stylized data of California's electricity market we demonstrate that electricity price spikes are higher and more frequent the higher the PV capacity. Consequently, the average electricity price rises when construction costs of PV capacity decline due, for example, to technology improvements, bestowing market power and excessive profits on producers employing fossil-using technologies. We also show that an increase in the number of PV-using firms and higher CO2 tax reduce consumer surplus.