The project aims to develop an investment optimization model to understand how future renewable electricity markets will function. The idea is to simulate the investment and operation of a 100% renewable electricity market with solar, wind, backup thermal, and storage technologies. The model would provide the optimal investment for each type of technology while representing the system operation at every hour of the year. A cost-minimization mathematical problem will be formulated and programmed. Results and sensitivities to the main parameters, such as investment cost, capacity factors, round-trip efficiencies, CO2 prices, and others, will be analyzed. Finally, market prices will be obtained from the previous model, and the financial viability of the investments will be analyzed.
Jaime Masjuan Ginel
