Global assessment of the merit order effect and revenue cannibalisation for variable renewable energy

<p>This is data set for the paper &quot;Global assessment of the merit‑order effect and revenue cannibalisation for variable renewable energy&quot;. All Figures shown in the paper are produced from this data set.</p> <p>Abstract:</p> <p>The rapid growth of wind and solar power has been a major driver for decarbonisation worldwide. They tend to reduce wholesale electricity prices, both the time-weighted average (the merit‑order effect) and their own output-weighted average (price cannibalisation).&nbsp; Whilst these effects have been widely observed, most previous studies focus on single countries.&nbsp; Here, we compare 37 electricity markets across Europe, North America, Australia and Japan and explore variations between them.</p> <p>Merit-order and cannibalisation effects are observed in nearly all countries studied. However, only in Germany, Spain, Poland, Portugal, Denmark and California can renewable output explain more than 10% of variation in wholesale electricity prices. The global average merit‑order effect is &euro;0.68&plusmn;&euro;0.54 /MWh per percentage point increase in variable renewable energy penetration, and this falls with higher penetration. Revenues captured by wind farms decrease by 0.23% (&euro;0.16 /MWh) for each percentage point increase of wind penetration and by 1.94% (&euro;0.90 /MWh) for solar PV.</p>