LAPSE:2018.0466
Published Article
LAPSE:2018.0466
Impacts of Low-Carbon Fuel Standards in Transportation on the Electricity Market
Ahmad Karnama, João Abel Peças Lopes, Mauro Augusto da Rosa
September 20, 2018
Electric Vehicles (EVs) are increasing the interdependence of transportation policies and the electricity market dimension. In this paper, an Electricity Market Model with Electric Vehicles (EMMEV) was developed, exploiting an agent-based model that analyzes how carbon reduction policy in transportation may increase the number of Electric Vehicles and how that would influence electricity price. Agents are Energy Service Providers (ESCOs) which can distribute fuels and their objective is to maximize their profit. In this paper, the EMMEV is used to analyze the impacts of the Low-Carbon Fuel Standard (LCFS), a performance-based policy instrument, on electricity prices and EV sales volume. The agents in EMMEV are regulated parties in LCFS should meet a certain Carbon Intensity (CI) target for their distributed fuel. In case they cannot meet the target, they should buy credits to compensate for their shortfall and if they exceed it, they can sell their excess. The results, considering the assumptions and limitations of the model, show that the banking strategy of the agents contributing in the LCFS might have negative impact on penetration of EVs, unless there is a regular Credit Clearance to trade credits. It is also shown that the electricity price, as a result of implementing the LCFS and increasing number of EVs, has increased between 2% and 3% depending on banking strategy.
Keywords
agent-based modelling, electric vehicles, electricity market, low-carbon fuel standard, policy analysis
Suggested Citation
Karnama A, Peças Lopes JA, Augusto da Rosa M. Impacts of Low-Carbon Fuel Standards in Transportation on the Electricity Market. (2018). LAPSE:2018.0466
Author Affiliations
Karnama A: Faculty of Engineering, University of Porto (FEUP), 4200-465 Porto, Portugal [ORCID]
Peças Lopes JA: Faculty of Engineering, University of Porto (FEUP), 4200-465 Porto, Portugal
Augusto da Rosa M: Department of Electrical and Electronic Engineering, Federal University of Santa Catarina (UFSC), Florianópolis 88040-900, Brazil
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Journal Name
Energies
Volume
11
Issue
8
Article Number
E1943
Year
2018
Publication Date
2018-07-26
Published Version
ISSN
1996-1073
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Original Submission
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PII: en11081943, Publication Type: Journal Article
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LAPSE:2018.0466
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doi:10.3390/en11081943
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Sep 20, 2018
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Sep 20, 2018
 
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Calvin Tsay
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