- Award ID(s):
- 1847077
- NSF-PAR ID:
- 10212939
- Editor(s):
- L. Cromarty, R. Shirwaiker
- Date Published:
- Journal Name:
- IISE transactions
- ISSN:
- 2472-5854
- Format(s):
- Medium: X
- Sponsoring Org:
- National Science Foundation
More Like this
-
Our study evaluated the effectiveness of using eight pathways in combination for a complete to transition from fossil fuels to renewable energy by 2050. These pathways included renewable energy development; improving energy efficiency; increasing energy conservation; carbon taxes; more equitable balancing of human wellbeing and per capita energy use; cap and trade systems; carbon capture, utilization, and storage; and nuclear power development. We used the annual ‘British Petroleum statistical review of world energy 2021’ report as our primary database. Globally, fossil fuels, renewable (primarily hydro, wind and solar), nuclear energy accounted for 83%, 12.6%, and 6.3% of the total energy consumption in 2020. To achieve zero fossil fuel use by 2050, we found that renewable energy production will need to be increased by up to 6-fold or 8-fold if energy demand is held constant at, or increased 50% from, the 2020 energy demand level. Constraining 2050 world energy demand to a 25% increase over the 2020 level, improves the probability of achieving independence from fossil fuels. Improvements in energy efficiency need to accelerate beyond the current rate of ~1.5% per year. Aggressive application of energy conservation policies involving land use and taxation could potentially reduce world energy use by 10% or more by 2050. Our meta-analysis shows that the minimum level of per capita energy consumption that would allow 8 billion people to have a ‘Decent Living Standard’ is on average ~70 GJ per capita per year, which is 93% of the 2020 global average. Developed countries in temperate climates with high vehicle-dependency needed ~120 GJ per capita year−1, whereas equatorial countries with low vehicle-dependency needed 30 GJ per capita year−1. Our meta-analyses indicated replacement of fossil fuels with renewable energy by 2050 may be possible but will require aggressive application of all eight pathways, major lifestyle changes in developed countries, and close cooperation among all countries.more » « less
-
To address the effects of climate change, it is imperative for economies to proactively invest in, and deploy, low carbon energy technologies to meet current energy demands. To this effect, several states in the U.S. have implemented policies to incentivize the growth of renewable energy technologies. One of these policies is the renewable portfolio standards (RPS), which mandates that a certain percentage of the total electricity sales of utilities be sourced from renewable energy sources. This paper examines the effectiveness of these policies in driving the growth of specific renewable technologies across different regional transmission organizations (RTOs). It evaluates the adoption of renewable energy technologies across these RTOs to provide insights on the varying successes of these policies. The paper develops a ranking system for the correlations between the strength of RPS and renewable energy capacity growth across the RTOs. Two central observations emerge. First, despite the presence of positive correlations between RPS and renewable energy capacity additions, the capacity growth of renewable energy is not monotonic in time as technological differences characterize regional attributes. Second, the technology returns on RPS mandates are location-specific.more » « less
-
Abstract A renewable energy site can expand its power generation capacity by an endogenous amount but may also want to shut down to save on fixed operating costs and interest payments if the market prospects deteriorate. We model such circumstances and derive managerial implications that help us explain real‐world conundrums, illustrating the intricate interactions between the operational decision to build up capacity and the financial decision to exit an industry. Shutting down may be delayed in the hope of expanding capacity upon recovery; an expansion may also be delayed in the presence of a valuable exit option. Numerical extensions provide further managerial insights. In particular, the presence of fixed or proportional financing costs may lead the firm to delay its expansion decision, but the scale of investment will only be affected by proportional costs. If herding behavior causes equipment prices to increase (respectively, decrease) when electricity prices are high (respectively, low), managers should invest earlier (respectively, later) and more (respectively, less) while equipment prices are low (respectively, high). Furthermore, although volume swings (due to capacity decommissionings and expansions) are marked in a homogeneous industry (when the default and expansion thresholds are reached), heterogeneity in the population of wind farms smooths out such effects.
-
Abstract The UN's Paris Agreement goal of keeping global warming between 1.5 and 2°C is dangerously obsolete and needs to be replaced by a commitment to restore Earth's climate. We now know that continued use of fossil fuels associated with 1.5–2°C scenarios would result in hundreds of millions of pollution deaths and likely trigger multiple tipping elements in the Earth system. Unexpected advances in renewable power production and storage have radically expanded our climate response capacity. The cost of renewable technologies has plummeted at least 30‐year faster than projected, and renewables now dominate energy investment and growth. This
renewable revolution creates an opportunity and responsibility to raise our climate ambitions. Rather than aiming for climate mitigation—making things less bad—we should commit to climate restoration—a rapid return to Holocene‐like climate conditions where we know humanity and life on Earth can thrive. Based on observed and projected energy system trends, we estimate that the global economy could reach zero emissions by 2040 and potentially return atmospheric CO2to pre‐industrial levels by 2100–2150. However, this would require an intense and sustained rollout of renewable energy and negative emissions technologies on very large scales. We describe these clean electrification scenarios and outline technical and socioeconomic strategies that would increase the likelihood of restoring a Holocene‐like climate in the next 100 years. We invite researchers, policymakers, regulators, educators, and citizens in all countries to share and promote this positive message of climate restoration for human wellbeing and planetary stability. -
This study explores perceptions of fossil fuel interests and the role narratives of fossil fuel obstruction play in slowing down the renewable energy transition in Puerto Rico. We analyzed interviews conducted with 56 “energy actors” engaged in Puerto Rico’s energy system about their visions of the system’s future and perceptions of the influence of different actors in promoting change or reinforcing the status-quo. The analysis also examined the use of discourses of delay in participant interviews using a framework proposed by Lamb et al. (2020). Our interviews revealed that a wide range of energy actors perceived obstruction by fossil fuel interests as shaping Puerto Rico’s energy transition, and used discourses of delay to describe Puerto Rico’s energy transition, but also employed narratives that countered this obstruction and resisted fossil fuel interests. The results depict the conflicted nature of Puerto Rico’s energy transition: on the one hand there was widespread agreement across a wide range of actors that the future of Puerto Rico’s energy system would eventually be renewable based, and at the same time, there were signi昀椀cant doubts that a renewable transition could or would occur. The complex interplay among perceptions of the influence of fossil fuel interests, discourses of delay, and narratives of resistance and community power offers insights into why renewable energy deployment has been slow in Puerto Rico, despite the possibility of a rapid transition after Hurricane Maria devastated the energy system in 2017 and ambitious energy policies were passed.more » « less