A pan-European capacity market prospect analysis based on IRENE-40 scenarios

This paper focuses on justification and a prospect analysis of capacity market mechanism for pan-European countries in coming decades, set under an established, credible, detailed, and diversified energy supply scenarios synthesis originating from IRENE-40 project works [1]. The study not only concludes with a suggestion on forward capacity requirement/reliability options mechanism, but also reveals subtle trade-offs such as minimizing capacity investments versus reducing curtailed renewable energy in regard to the design of balancing circle scales.