Electricity prices and public acceptance of renewable energy, in the face of the socio-technical transformation of the electricity system towards achieving Denmark climate ambitions in 2030
Translated title
Electricity prices and public acceptance of renewable energy, in the face of the socio-technical transformation of the electricity system towards achieving Denmarks climate ambitions in 2030
Author
Term
4. Term
Publication year
2024
Submitted on
2024-02-07
Pages
60
Abstract
Denmark has made progress in increasing the renewable share of electricity supply, but of concern is how the large-scale introduction of renewable sources will influence electricity prices in future, and in turn, prices may influence public opinion towards renewable energy development. In addition, an increased renewable energy share may also impact on the transmission system operator (TSO) to maintain balance and grid stability due to the fluctuating nature of renewable sources, and as a result, the Danish TSO is planning to allow small household PV-units to participate in the balancing markets. The aim of this study is to explore the relationship between electricity prices and public acceptance of renewable energy and what role society can play in the socio-technical transformation of the electricity sector, considering Denmark's climate ambitions towards becoming a climate neutral society by 2050. The study is divided into four main parts. The first part is problem identification, which describes the Danish climate ambitions and strategy within the context of the liberalized electricity market. The second and third parts analyze price forecasting methods and the relationship between electricity prices and public support for renewable energy development, respectively. The final and fourth part of the study is aimed at modelling public participation in the balancing market.
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