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UID:3774c039555e107346c4f4ca79bc7fae
CATEGORIES:Seminars
CREATED:20251007T133254
SUMMARY:Gautam Gowrisankaran - Columbia University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><strong>Plugging in the Wind and Sun: Market Design for&nbsp;Shared Infr
 astructure Under Uncertainty</strong>” with Ashley Langer, and Nicholas Rya
 n</p><p><strong>Abstract:</strong></p><p style="text-align: justify;">The p
 ast decade has seen a surge in new renewable power projects seeking to plug
  in to the electric grid. Plant entry on the grid generates cost externalit
 ies, whereby each new potential plant can change the costs that other proje
 cts nearby must pay to connect. We study the interconnection queue that adm
 its new projects to the California electricity market. We find evidence tha
 t externalities matter for investment: (i) plant interconnection costs incr
 ease in nearby entry; (ii) projects with lower interconnection costs are mo
 re likely to connect; (iii) projects awarded the right to use spare grid ca
 pacity are much more likely to connect. We embed these descriptive findings
  in a dynamic equilibrium model of the interconnection queue that admits ex
 ternalities between projects.</p>
DTSTAMP:20260501T040915Z
DTSTART:20260513T163000Z
DTEND:20260513T180000Z
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