"Environmental Policy with Green Consumerism"
Résumé
The presence of consumers able to respond to changes in wholesale electricity prices
facilitates the penetration of renewable intermittent sources of energy such as wind or sun
power. We investigate how adapting demand to intermittent electricity supply by making
consumers price-responsive - thanks to smart meters and home automation appliances -
impacts the energy mix. We show that it almost always reduces carbon emissions. Furthermore,
when consumers are not too risk-averse, demand response is socially beneficial
because the loss from exposing consumers to volatile prices is more than offset by lower
production and environmental costs. However, the gain is decreasing when the proportion
of reactive consumers increases. Therefore, depending on the costs of the necessary smart
hardware, it may be non-optimal to equip the whole population.
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