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Modeling Energy Portfolio Scoring: A Simulation Framework

Author

Listed:
  • Rafael Diaz

    (The Virginia Modeling, Analysis and Simulation Center (VMASC), Old Dominion University, Norfolk, VA, USA)

  • Joshua G. Behr

    (The Virginia Modeling, Analysis and Simulation Center (VMASC), Old Dominion University, Norfolk, VA, USA)

  • Rafael Landaeta

    (Old Dominion University, Norfolk, VA, USA)

  • Francesco Longo

    (University of Calabria, Cosenza, Italy)

  • Letizia Nicoletti

    (DIMEG, University of Calabria, Cosenza, Italy)

Abstract

U.S. regions are expected to follow the national trend towards investment in renewable energy as part of their electricity portfolio. The progress of energy portfolios that typically involves traditional methods, such as centralized nuclear and coal-fired generation, and towards cleaner- and renewable-source generation will impact economic growth and public health. Renewable electricity production must strike a balance among cost, reliability, and compatibility. The economic and health benefits obtained from developing an efficient energy portfolio make renewable energy alternatives an important consideration for regions endowed with natural resources. A portfolio mix of production method that considers the economic benefits while limiting adverse health and environmental impacts is attractive. This research proposes a System Dynamics simulation framework to support policy-making efforts in assessing the impact of energy portfolios. The authors demonstrate the utility of the framework by means of analyzing data that pertain to the U.S. Hampton Roads - Peninsula Region.

Suggested Citation

  • Rafael Diaz & Joshua G. Behr & Rafael Landaeta & Francesco Longo & Letizia Nicoletti, 2015. "Modeling Energy Portfolio Scoring: A Simulation Framework," International Journal of Business Analytics (IJBAN), IGI Global, vol. 2(4), pages 1-22, October.
    • Handle: RePEc:igg:jban00:v:2:y:2015:i:4:p:1-22
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