New Research in the Journal of Bioeconomics

I have had a piece published in the Journal of Bioeconomics. The abstract is:

Electricity systems are shifting from a once highly centralised regulated model to become more renewable, distributed and consumer-centric. Australia has some of the highest installation rates of embedded renewable electricity generation in the developed world. This has been driven by increasing grid-supplied energy prices, policy incentives and declining technology costs. The emergence of cost-effective distributed battery storage and energy management systems is likely to fundamentally alter the electricity industry—which has been largely unchanged for decades. Evolutionary economics indicates that firms must adapt to new technologies and market conditions or they will become extinct. Energy markets will only evolve, however, if regulatory frameworks continuously adapt to ensure that consumer preferences for reliability, control and environmental outcomes are able to be achieved at lowest cost. Most importantly, regulators will need to ensure that facilitating efficient consumer decision making is prioritised.

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