Electricity - EPPA
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|Institution||Massachusetts Institute of Technology (MIT), USA, https://globalchange.mit.edu/.|
|Solution concept||General equilibrium (closed economy)|
Electricity in EPPA comes from: 1) coal; 2) gas; 3) oil; 4) nuclear; 5) hydro; 6) wind; 7) solar; and 8) biomass. The energy conversion process of each type of generation is represented by a production technology that transforms different inputs into the electricity output. Some low-carbon or negative emissions generation options (e.g., gas with CCS; biomass with CCS) are not economically feasible without stringent policies, and therefore they are calibrated based on engineering data (e.g., various years of data from EIA's Annual Energy Outlook) as they have not been commercially operated currently and are not observed in the base year input-output data. Besides the economic data, physical flows of energy are also tracked to ensure that the thermal efficiency (if applicable) of each type of conversion is valid with price-driven (endogenous) or non-price-driven (exogenous) energy efficiency improvements.