probably this is a constraint that hits once renewables reach a certain % of deployment, but will report back once I get to look at the code
18.12.2024 02:09
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probably this is a constraint that hits once renewables reach a certain % of deployment, but will report back once I get to look at the code
If I'm reading pp.47 in Appendix A of the DOE report correctly, the model assumes that solar/wind investment has to include a "capacity reserve" only allowed to be provided by gas turbines, so I guess this is meant to capture the coal inflexibility?
Something to add is that GCAM features a very rich sectoral representation of the economy, but has a myopic representation of agents' expectations (vs. my work, which puts more emphasis on how expectations affect investment dynamics). Interested in understanding how this might drive results!
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Thanks Kyle! From a quick read on the DOE study, they do find a v small increase in global emissions from the shock using the GCAM model (relative to my v small decrease in emissions). Looking forward to unpack their results, but we do seem to agree on the existence of slack in LNG markets
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