MARKAL analysis

Nadejda Victor and Christopher J. Nichols

Chapter 83 in Elgar Encyclopedia of Energy Economics, 2025, pp 320-328 from Edward Elgar Publishing

Abstract: Traditionally, assessments of the benefits of research and development (R&D) expenditures have been performed using a variety of forecasting models and tools and by comparing the results of different scenarios to demonstrate the value of various technology pathways. Our entry uses simulations of the MARKet ALlocation (MARKAL) model to analyze scenarios and the impact of the carbon capture utilization and storage (CCUS) R&D goals on the power generation system. The study focuses on the development of comprehensive US policy intervention scenarios and comparison of the results. In comparison to previous work on this topic, our study captures results of interactions between CCUS costs and different policies. The results show that CO2 reduction policies accelerate the deployment of renewables and CCUS only in the scenarios where the decarbonization policies are more stringent than mandatory renewables or mandatory CCUS deployment. Electricity generation mixes in the reference scenarios are largely dependent on the price of natural gas.

Keywords: MARKAL Multi-Regional Model; Power Generation Technologies; CO2-EOR; 45Q; CCUS R&D; CO2 Emissions Reduction Policies (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035310364
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