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ID:
168642
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| Summary/Abstract |
Climate change is the world's most prominent environmental problem, and fossil-fuel combustion is its primary cause. To set carbon reduction goals, policy makers require information on feasibility and cost of renewable energy systems. In this study, we describe an economic approach to modeling a national electricity system based entirely on renewable sources, using the island-nation of Mauritius as a case study.
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| 2 |
ID:
150470
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| Summary/Abstract |
Given the problem of climate change, the world economy must eventually switch to carbon neutral energy. In this study we present a cost-effectiveness approach: given a goal of decarbonization, the objective is to accomplish this at minimum cost. For residential building energy, we show that total cost is minimized by equating marginal cost of building energy conserved with marginal cost of obtaining carbon-free energy, where we express costs of both in dollars per kWh. We describe how the cost of solar photovoltaic energy provides an upper bound on the marginal cost of carbon-free energy and thus an upper bound on marginal cost of conserved energy—one should not necessarily spend more on energy conservation than the cost of photovoltaic energy (though there are several caveats). A case study from Vermont, USA illustrates these principles and implementation issues with marginal analysis of energy conservation. From a policy perspective, the principles presented suggest that either carbon taxes or carbon limits could be used to decarbonize building energy at minimum cost, but that approaches using renewable-energy subsidies or prescriptive building codes result in greater decarbonization costs to society. This suggests that new policy approaches be adopted.
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| 3 |
ID:
094852
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| Publication |
2010.
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| Summary/Abstract |
We propose the introduction of an energy-based parallel currency as a means to ease the transition to energy-conscious living. Abundant fossil energy resources mask the internal and external energy costs for casual energy consumers. This situation is challenging communities that draw a significant fraction of their primary energy consumption from renewable energy sources. The Masdar Energy Credit (MEC) system is a way of translating the fundamental aspects behind energy generation and usage into a tangible reality for all users with built-in fungibility to incentivize collectively sustainable behavior. The energy credit currency (ergo) corresponds with a chosen unit of energy so that the total amount of ergos issued equals the energy supply of the community. Ergos are distributed to users (residents, commercial entities, employees, and visitors) on a subscription basis and can be surrendered in exchange for the energy content of a service. A spot market pricing mechanism is introduced to relate ergos to "fiat" currency using a continuously variable exchange rate to prevent depletion of the sustainable energy resource. The MEC system is intended to: (i) meet the sustainable energy balance targets of a community (ii) support peak shaving or load shifting goals, and (iii) raise energy awareness.
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