Working Paper: NBER ID: w22752
Authors: Geoffrey Heal
Abstract: The increasing importance of intermittent renewable energy sources suggests a growing importance for energy storage as a way of smoothing the variable output. In this paper I investigate factors affecting the amount of energy storage needed, including the degree of intermittency and the correlations between wind and solar power outputs at different locations.
Keywords: energy storage; renewable energy; intermittency; solar power; wind power
JEL Codes: Q4; Q53
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| intermittency of solar and wind energy outputs (Q42) | amount of energy storage required (L94) |
| geographical diversification of energy sources (Q42) | overall risk of power shortages (L94) |
| demand-side management (D12) | need for energy storage (Q41) |
| penetration of renewable energy sources (Q42) | need for energy storage (Q41) |