Energy resource endowments - REMIND
|Model Documentation - REMIND|
|Institution||Potsdam Institut für Klimafolgenforschung (PIK)|
Hybrid model that couples an economic growth model with a detailed energy system model and a simple climate model.
|Solution method||Inter-temporal optimization that maximizes cumulated discounted global welfare: Ramsey-type growth model with Negishi approach to regional welfare aggregation.|
The primary energy carriers in REMIND include both exhaustible and renewable resources. Exhaustible resources comprise uranium as well as three fossil resources, namely coal, oil, and gas. Renewable resources include hydro, wind, solar, geothermal, and biomass. It is possible to trade coal, oil, gas, uranium, and biomass across regions, but the trading of resources is subject to regional and resource-specific trade costs.