Abstract
Capital investment cost is the major obstacle to the increasing share of electricity from renewable energy sources (RES-E). Therefore, RES-E incentive mechanisms are incorporated into markets to compensate cost-related barriers and to increase RES-E deployment rate. In this study, the impact of direct capital investment subsidy on RES-E in generation expansion planning (GEP) has been analyzed and deployment rates of renewable power plants have been defined. The effect of current subsidy mechanisms on the installed power capacity of various sources has also been analyzed and policy recommendations have been put forth in the light of the characteristics of Turkey’s current subsidization mechanism and its outcomes. Genetic algorithm was applied to solve the GEP problem. The share of non-hydro renewable power plants for future additions in overall installed power was determined as 9.45% without the proposed incentive, while it was estimated to rise to 13.65% when it was promoted by direct capital investment subsidy of 50%. The deployment rates of renewable power plants are expected to grow as the imported coal share in total installed power is expected to decline after applying the proposed subsidy.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
More From: Sakarya University Journal of Computer and Information Sciences
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.