Recent Progress in Sustainable Energy Systems Development: Investment, Operations, and Decarbonization

Abstract Purpose of Review This paper focuses on providing an overview of recent research relevant to the sustainable development of energy systems and the integration of renewable energy sources, with a particular emphasis on investment, operations of the energy system with renewable resources, and decarbonization tools. Recent works on renewable energy auctions, demand response, battery storage, and microgrids are surveyed in addition to relevant research on carbon pricing and carbon capture. Recent Findings Previous studies indicate the promise and importance of well-designed renewable energy auctions, and the growing role of demand response and battery storage in energy systems characterized by the increasing prevalence of renewable energy sources. Recent works on carbon pricing indicate the importance of social attitudes towards decarbonization policy. Summary The findings discussed herein indicate the continued importance of studying energy markets in light of the increasing penetration of renewable generation, sustainable development goals, and decarbonization. Improvements in demand response, battery storage, and microgrid architecture, as well as policies around carbon pricing and capture, indicate a growing role for research and policy design informing and supporting one another.