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System Dynamics Modeling of the Massachusetts SREC Market

Author

Listed:
  • Hilary Flynn

    () (Meister Consultants Group, 98 North Washington Street, Boston, MA 02114, USA)

  • Dwayne Breger

    () (Massachusetts Department of Energy Resources, 100 Cambridge Street, Suite 1020, Boston, MA 02114, USA)

  • Andrew Belden

    () (Meister Consultants Group, 98 North Washington Street, Boston, MA 02114, USA)

  • Asmeret Bier

    () (Independent Consultant)

  • Chad Laurent

    () (Meister Consultants Group, 98 North Washington Street, Boston, MA 02114, USA)

  • Natalie Andrews

    () (Massachusetts Department of Energy Resources, 100 Cambridge Street, Suite 1020, Boston, MA 02114, USA)

  • Wilson Rickerson

    () (Meister Consultants Group, 98 North Washington Street, Boston, MA 02114, USA)

Abstract

As states across the country struggle to increase local development of renewable energy, policymakers are turning to innovative program designs to meet their renewable electricity targets. Massachusetts recently adopted a unique, auction-based price support mechanism for the solar portion of its renewable portfolio standard. During the program development process, the Massachusetts Department of Energy Resources (DOER) used system dynamics to simulate potential solar renewable energy certificate market conditions under the proposed regulations. The modeling exercise resulted in several program design changes that will lead to a more stable certificate market. System dynamics can be a useful tool for developing and improving sustainability programs.

Suggested Citation

  • Hilary Flynn & Dwayne Breger & Andrew Belden & Asmeret Bier & Chad Laurent & Natalie Andrews & Wilson Rickerson, 2010. "System Dynamics Modeling of the Massachusetts SREC Market," Sustainability, MDPI, Open Access Journal, vol. 2(9), pages 1-16, August.
  • Handle: RePEc:gam:jsusta:v:2:y:2010:i:9:p:2746-2761:d:9445
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    Citations

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    Cited by:

    1. Liu, Ximei & Zeng, Ming, 2017. "Renewable energy investment risk evaluation model based on system dynamics," Renewable and Sustainable Energy Reviews, Elsevier, vol. 73(C), pages 782-788.
    2. Toka, Agorasti & Iakovou, Eleftherios & Vlachos, Dimitrios & Tsolakis, Naoum & Grigoriadou, Anastasia-Loukia, 2014. "Managing the diffusion of biomass in the residential energy sector: An illustrative real-world case study," Applied Energy, Elsevier, vol. 129(C), pages 56-69.
    3. Shih, Yi-Hsuan & Tseng, Chao-Heng, 2014. "Cost-benefit analysis of sustainable energy development using life-cycle co-benefits assessment and the system dynamics approach," Applied Energy, Elsevier, vol. 119(C), pages 57-66.
    4. Andreas Gerber, 2016. "Short-Term Success versus Long-Term Failure: A Simulation-Based Approach for Understanding the Potential of Zambia’s Fertilizer Subsidy Program in Enhancing Maize Availability," Sustainability, MDPI, Open Access Journal, vol. 8(10), pages 1-17, October.

    More about this item

    Keywords

    solar; system dynamics; renewable portfolio standard; renewable energy certificate; auction;

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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