Renewable energy auctions: Status and trends beyond price

As the renewable energy sector matures, policies must be adapted to reflect changing market conditions. With the increasing use of auctions, policymakers seek to procure renewables-based electricity at the lowest price and also fulfil socio-economic objectives. Auctions designed in innovative ways can help achieve specific national goals, beyond solely procuring electricity at the lowest price. Such goals might include ramping up solar and wind power; integrating higher shares of those sources into the grid; ensuring greater participation by communities, small companies, or new market entrants; and maximising the socio-economic benefits of renewables, including job creation. Alongside such diverse aims, ensuring timely project completion remains a paramount objective.