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A Clean Energy Standard Analysis with the US-REGEN Model

Author

Listed:
  • Geoffrey J. Blanford
  • James H. Merrick
  • David Young

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.

Suggested Citation

  • Geoffrey J. Blanford & James H. Merrick & David Young, 2014. "A Clean Energy Standard Analysis with the US-REGEN Model," The Energy Journal, , vol. 35(1_suppl), pages 137-164, June.
    • Handle: RePEc:sae:enejou:v:35:y:2014:i:1_suppl:p:137-164
    DOI: 10.5547/01956574.35.SI1.8
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    References listed on IDEAS

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    1. Aldy, Joseph Edgar, 2011. "Promoting Clean Energy in the American Power Sector," Scholarly Articles 4901643, Harvard Kennedy School of Government.
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    Cited by:

    1. Merrick, James H. & Bistline, John E.T. & Blanford, Geoffrey J., 2024. "On representation of energy storage in electricity planning models," Energy Economics, Elsevier, vol. 136(C).

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