  Starting from the model in Koch-Vargiolu (2019), we test the real impact of
current renewable installed power in the electricity price in Italy, and assess
how much the renewable installation strategy which was put in place in Italy
deviated from the optimal one obtained from the model in the period 2012--2018.
To do so, we consider the Ornstein-Uhlenbeck (O-U) process, including an
exogenous increasing process influencing the mean reverting term, which is
interpreted as the current renewable installed power. Using real data of
electricity price, photovoltaic and wind energy production from the six main
Italian price zones, we estimate the parameters of the model and obtain
quantitative results, such as the production of photovoltaic energy impacts the
North zone, while wind is significant for Sardinia and the Central North zone
does not present electricity price impact. Then we implement the solution of
the singular optimal control problem of installing renewable power production
devices, in order to maximize the profit of selling the produced energy in the
market net of installation costs. We extend the results of \cite{KV} to the
case when no impact on power price is presented, and to the case when $N$
players can produce electricity by installing renewable power plants. We are
thus able to describe the optimal strategy and compare it with the real
installation strategy that was put in place in Italy.
