REthinking Energy: Innovation in renewable energy policy and regulation
In IRENA’s session on Renewable Energy Policies and Market Design, participants will share experiences from the design and implementation of policy instruments to support deployment in their countries, with a focus on innovative policy designs to address market-specific barriers. Participants will also discuss the adoption of policies and regulations that go beyond deployment policies, such as flexibility measures, for the integration of larger shares of variable renewable energy. IRENA will set the scene with a presentation on the findings from its latest work on the following topics:
- Renewable energy policies. The choice of one policy instrument over another pertains to its strengths and weaknesses in a given context, taking into account the technology being deployed, the specific country conditions, the state of the energy market, and the specific objectives to achieve. In this context, renewable energy auctions have been increasingly adopted globally, in some cases following innovative and sophisticated designs. This session will explore the essential elements of auction design as well as the main trends and key factors explaining the evolution of auction prices over the recent past.
- Market design: The greater shares of variable renewables together with the rise in distributed generation have a profound impact on electricity markets, on the demand for system flexibility and on the business models of traditional utilities and distribution companies. Therefore, a rethinking of power market design and operation as well as timely and efficient adaptation of traditional mechanisms are required. Given the recent evolution of power systems, participants in this session will present lessons learnt in adapting market regulation and policy to efficiently support the growth of renewable energy.
This session on Renewable Energy Policies and Market Design is targeted at different stakeholders, including policy makers, regulators, grid operators at transmission and distribution level, utilities and consumers.