A Clean Energy Standard Analysis with the US-REGEN Model

Geoffrey J. Blanford, James H. Merrick and David Young

The Energy Journal, 2014, vol. 35, issue 1_suppl, 137-164

Abstract: A clean energy standard (CES) is a potential policy alternative to reduce carbon emissions in the electric sector. We analyze this policy under a range of technological assumptions, expanding on the Energy Modeling Forum (EMF) 24 study scenarios, using a new modeling tool, US-REGEN. We describe three innovative features of the model: treatment of spatial and temporal variability of renewable resources, cost-of-service electric sector pricing, and explicit representation of energy end-use specific capital. We find that varying technology assumptions results in vastly different futures, with large contrasts in the distribution and scale of inter-regional financial flows, and in the generation mix. We explore regional differences in how the costs of CES credits are passed through with cost-of-service vs. competitive pricing. Finally, we compare the CES to an economy-wide emissions cap. We find that although the two policies result in a similar generation mix, price and electricity end-use results differ.

Keywords: Clean energy standard; Market-based environmental policy; Greenhouse gas mitigation; Energy modelling; Electricity modeling (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:35:y:2014:i:1_suppl:p:137-164

DOI: 10.5547/01956574.35.SI1.8

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