Model Documentation - TIAM-UCL

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Model Documentation - TIAM-UCL
Corresponding documentation
Model information
Institution University College London (UCL), UK, https://www.bartlett.ucl.ac.uk/energy.
Solution concept Partial equilibrium (price elastic demand)
Solution method Linear optimisation
Anticipation Perfect Foresight

(Stochastic and myopic runs are also possible)

TIAM-UCL is a global energy systems model that is usually run along with a climate module (calibrated to MAGICC) and an aggregated economic module (Macro Stand-Alone) in order to assess long-term energy decarbonisation scenarios and pathways.

The model is called the TIMES Integrated Assessment Model in UCL. TIMES is itself an acronym for ‘The Integrated MARKAL-EFOM System’.

The framework is akin to that of a long-term social planner with perfect foresight that acheives exogenous energy demands at lowest cost given detailed energy technology assumptions and specified constraints