Evaluating government's policies on promoting smart metering diffusion in retail electricity markets via agent-based simulation

Zhang, Tao and Nuttall, William J. (2011). Evaluating government's policies on promoting smart metering diffusion in retail electricity markets via agent-based simulation. Journal of Product Innovation Management, 28(2) pp. 169–186.

DOI: https://doi.org/10.1111/j.1540-5885.2011.00790.x

URL: http://dx.doi.org/10.1111/j.1540-5885.2011.00790.x

Abstract

In this paper, we develop an agent-based model of a market game in order to evaluate the effectiveness of the U.K. government’s 2008–2010 policy on promoting smart metering in the U.K. retail electricity market. We break down the policy into four possible policy options. With the model, we study the impact of the four policy options on the dynamics of smart metering diffusion and suggest policy implications. The context of the paper is a practical application of agentbased simulation to the retail electricity market in the United Kingdom. The contributions of the paper are both in the areas of policymaking for the promotion of innovation diffusion in the electricity market and in methodological use of agent-based simulation for studying the impact of policies on the dynamics of innovation diffusion.

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• Item ORO ID
• 35416
• Item Type
• Journal Item
• ISSN
• 1540-5885
• Extra Information
• Special issue on Agent-based Modeling of Innovation Diffusion.
  
  The authors acknowledge the financial support of the ESRC Electricity Policy Research Group (EPRG), under the Towards a Sustainable Energy Economy (TSEC) Programme Work Package 3 (WP3). The authors also acknowledge the comments on this paper from one anonymous referee for the EPRG and four for JPIM.
• Academic Unit or School
• Faculty of Science, Technology, Engineering and Mathematics (STEM) > Engineering and Innovation
  Faculty of Science, Technology, Engineering and Mathematics (STEM)
• Copyright Holders
• © 2011 Product Development & Management Association
• Depositing User
• William Nuttall