However, effectively zero consumers pay the spot price currently. Distribution utilities worry that time-varying electricity prices (1) are confusing to consumers (2) any change in rates triggers regulatory review and creates winners and losers (i.e. some bills go up, others go down).
I work with utilities, and we are seeing a lot more interest in time of use and dynamic pricing. I think EVs will help a lot with socializing time-varying prices. Incentivizing consumers to charge at night is hugely beneficial for everyone, which means you can roll it out to consumers in a way that always reduces costs, making it feel less punitive than a time-varying rate that otherwise might help or hurt.
The only exception would be if so much storage capacity came online that the variability of wind was completely absorbed & the arbitrage disappeared.
Are we really ready to admit that the late 20th century was peak civilization? It seems to me we have solved all the wrong problems with technology (nitrogen fixation, disease, etc) that put natural checks on population several hundred years before we were ready to actively plan and manage population. As a result, all the problems introduced by overpopulation that are fundamentally unsolvable are getting worse and worse.
Unequivocally yes. If we admit it now and work hard to limit climate change it might be a local peak. If we continue on our current path it's going to end up being the global peak. There is no scenario in which we fix the climate without giving significant ground on quality of life in the first world, especially considering that ideally we should be working to bring quality of life to parity across the developed and developing world.
Therefore lets make it illegal not to care?? You need to think more pragmatically.
Meh, whatever; I need to start my laundy so it's ready before I go to bed. I'll eat the $30.
- Space heating & cooling pre-heats or pre-cools before anticipated peak demand & shuts off during peak. E.g. Nest Rush Hour Rewards.
- Electric dryer waits to start until rates are low. Or could even interrupt briefly during a short spike. Clothes will not mind being damp another thirty or sixty minutes.
- Electric cars charge at night
Smart metering should be compulsory in all households with a display showing the current spot price. I should be able to see that right now electricity is expensive or cheap to decide if I should wash my clothes or run the AC.
Its crazy the electrical utility industry ties itself in knots to guarantee supply and meet demand peaks when consumers blindly use electricity when they feel like it. Changing demand behaviour should be a priority if we want wind and solar to become more widely used.