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A techno-economic and environmental assessment of long-term energy policies and climate variability impact on the energy system
Citation
Emodi, NV and Chaiechi, T and Rabiul Alam Beg, ABM, A techno-economic and environmental assessment of long-term energy policies and climate variability impact on the energy system, Energy Policy, 128 pp. 329-346. ISSN 0301-4215 (2019) [Refereed Article]
Copyright Statement
Copyright 2019 Elsevier Ltd.
DOI: doi:10.1016/j.enpol.2019.01.011
Abstract
This paper examines the impact of climate variability and change (CV&C), and energy policies on the future
energy system in Australia. Scenarios were developed to represent CV&C impacts and policy options, which were
analysed with the Long-range Energy Alternative and Planning system for the period 2010–2050. The results
indicate that although energy demand is likely to increase threefold in the business-as-usual scenario, CV&C
further increases demand to 150 petajoule. A combined policy option involving modal shift and penetration of
electric and hydrogen fuel cell vehicles results in a 49–53% decrease in transport fuel demand and emissions.
The economic analysis reveals a substantial decline in sales revenue and increase in generation costs due to CV&
C impacts. Higher renewable energy integration results in lower wholesale electricity prices across independent
electricity markets. Cumulative cost-benefit analysis indicates that economic benefits increase to US$4.9 trillion
in an advanced renewable energy scenario. Emissions and energy consumed increased under climatic conditions,
but decreased after policy intervention. Ignoring the influence of CV&C may result in underestimation of future
energy demand and installed capacity in Australia. Therefore, energy and climate policies should consider long-term economic benefits over short-term system costs.
Item Details
Item Type: | Refereed Article |
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Keywords: | climate variability and change, Australia, LEAP, energy policies, emission reduction, scenario analysis |
Research Division: | Economics |
Research Group: | Applied economics |
Research Field: | Environment and resource economics |
Objective Division: | Environmental Policy, Climate Change and Natural Hazards |
Objective Group: | Understanding climate change |
Objective Field: | Climate change models |
UTAS Author: | Emodi, NV (Mr Nnaemeka Emodi) |
ID Code: | 141880 |
Year Published: | 2019 |
Web of Science® Times Cited: | 5 |
Deposited By: | Sociology and Criminology |
Deposited On: | 2020-12-01 |
Last Modified: | 2021-02-10 |
Downloads: | 0 |
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