DEVELOPING A DYNAMIC WELFARE-CENTERED ENERGY TRANSITION MODEL: METHODOLOGICAL CHALLENGES AND PERSPECTIVES

Iuliia Myroshnychenko () and Thomas Gries
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Iuliia Myroshnychenko: Paderborn University

No 157, Working Papers CIE from Paderborn University, CIE Center for International Economics

Abstract: This paper provides a comprehensive review of methodological approaches to assessing, simulating, and projecting welfare within the dynamics of the energy transition. The shift toward renewable energy sources is causing complex socio-economic and environmental changes that require sophisticated research methods to analyze the impact of policy incentives on welfare, taking into account intergenerational trade-offs. The paper conducts a short overview of the relevant literature and a bibliometric analysis, focusing on the theories, components, and assessment techniques that underlie welfare research. Significant attention is paid to analyzing the use of integrated assessment models to simulate the impacts of energy policies and economic incentives on welfare. Additionally, a new modeling framework is introduced—the dynamic welfare-centered energy transition model—which assimilates components from the OECD's Better Life Index and integrates additional indicators for welfare simulation using integrated assessment modeling. Given the complex uncertainties of transforming energy systems, this research aims to advance techniques for guiding economically optimal, welfare-oriented policy decision-making.

Keywords: welfare; energy transition; renewable energies; integrated assessment model (search for similar items in EconPapers)
JEL-codes: E17 I31 Q48 (search for similar items in EconPapers)
Pages: 47
Date: 2024-02
New Economics Papers: this item is included in nep-ene and nep-env
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