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Joint Industrial Organization and Sustainable Environmental Energy, and Resource Economics Workshop: Gautam Gowrisankaran

Friday, September 17, 2021 at 1:00pm to 2:30pm

Warren Hall, 150

Gautam Gowrisankaran, Columbia University

Soaking Up the Sun: Battery Investment, Renewable Energy, and Market Equilibrium (joint w/R. Andrew Butters and Jackson Dorsey.

Abstract:  We develop a dynamic competitive equilibrium model of battery adoption and operations to evaluate the social value and adoption trajectory of utility-scale batteries and examine policy counterfactuals.  The first battery unit breaks even in 2027 when renewable energy share reaches 52% and expected capital costs are $259/kWh. While the competitive market will install 10 MWh by 2030, competitive adoption does not reach 5,000 MWh until 2043 because the marginal value of investment sharply declines in aggregate capacity. California’s 1,300 MW battery mandate implies subsidies of 49% and creates deadweight losses of $433 million relative to a competitive battery market.

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Event Type

Seminar, Class/ Workshop


Economics, Sustainability

University Themes



economics, EconSeminar, EconIO

Contact E-Mail

Contact Name

Ulrike Kroeller

Contact Phone



Gautam Gowrisankaran

Speaker Affiliation

Columbia University

Open To

Cornell Economics Commnity (List Service Mambers)