Analysis of renewable energy development to power generation in the United States

Renewable energy resources have historically played a small role for electricity generation in the US. However, concerns such as security of energy supply, limitations and price fluctuations of fossil fuels, and threats of climate changes have encouraged US policy makers to think and debate about di...

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Bibliographic Details
Published in:Renewable energy 2014-03, Vol.63, p.153-161
Main Authors: Aslani, Alireza, Wong, Kau-Fui V.
Format: Article
Language:English
Subjects:
Applied sciences
Climate
Cost analysis
Costs
Electricity generation
Energy
Exact sciences and technology
Fluctuation
Markets
Natural energy
Promotion
Renewable energy
Renewable energy portfolio
Strategy
System dynamics
Utilization
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Summary:Renewable energy resources have historically played a small role for electricity generation in the US. However, concerns such as security of energy supply, limitations and price fluctuations of fossil fuels, and threats of climate changes have encouraged US policy makers to think and debate about diversification strategy in the energy supply and promotion of renewables. The current paper discusses the role of renewable portfolio in the US energy action plan during 2010–2030. A system dynamics model is constructed to evaluate different costs of renewable energy utilization by 2030. Results show that while renewables will create a market with near 10 billion $ worth (in the costs level) in 2030, the total value of renewable energy promotion and utilization in the US will be more than 170 billion $(in the costs level) during 2010–2030. •A system dynamics model is proposed to evaluate the costs of renewable energy development.•The model considers the role of different policies and costs of renewables in the US.•The total value of renewable energy promotion and utilization in the US will be more than 170 billion $.
ISSN:0960-1481
1879-0682
DOI:10.1016/j.renene.2013.08.047