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Economics of Carbon Dioxide Sequestration versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois

Year 2012, Volume: 2 Issue: 3, 184 - 200, 01.09.2012

Abstract

An equilibrium economic model for policy evaluation related to electricity generation at national and individual state level in U.S has been developed. The model takes into account the non-renewable and renewable energy sources, demand and supply factors and environmental constraints (CO2 emissions). Economic policy analysis experiments are carried out to determine the consequences of switching the sources of electricity generation under two scenarios: in first scenario, a switch from coal to renewable sources is made for 10% of electricity generation; in the second scenario, the switch is made for 10% of electricity generation from coal to coal with clean coal technology by employing CO2 capture and sequestration (CCS). The cost of electricity generation from various non-renewable and renewable sources is different and is taken into account in the model. The consequences of this switch on supply and demand, employment, wages, and emissions are obtained from the economic model under three scenarios: (1) energy prices are fully regulated, (2) energy prices are fully adjusted with electricity supply fixed, and (3) energy prices and electricity supply both are fully adjusted. The model is applied to the states of California and Illinois, and at national level.

Year 2012, Volume: 2 Issue: 3, 184 - 200, 01.09.2012

Abstract

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Details

Other ID JA42YP32DJ
Journal Section Research Article
Authors

Ramesh Agarwal This is me

Zheming Zhang This is me

Lee Chusak This is me

Publication Date September 1, 2012
Published in Issue Year 2012 Volume: 2 Issue: 3

Cite

APA Agarwal, R., Zhang, Z., & Chusak, L. (2012). Economics of Carbon Dioxide Sequestration versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois. International Journal of Energy Economics and Policy, 2(3), 184-200.
AMA Agarwal R, Zhang Z, Chusak L. Economics of Carbon Dioxide Sequestration versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois. IJEEP. September 2012;2(3):184-200.
Chicago Agarwal, Ramesh, Zheming Zhang, and Lee Chusak. “Economics of Carbon Dioxide Sequestration Versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois”. International Journal of Energy Economics and Policy 2, no. 3 (September 2012): 184-200.
EndNote Agarwal R, Zhang Z, Chusak L (September 1, 2012) Economics of Carbon Dioxide Sequestration versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois. International Journal of Energy Economics and Policy 2 3 184–200.
IEEE R. Agarwal, Z. Zhang, and L. Chusak, “Economics of Carbon Dioxide Sequestration versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois”, IJEEP, vol. 2, no. 3, pp. 184–200, 2012.
ISNAD Agarwal, Ramesh et al. “Economics of Carbon Dioxide Sequestration Versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois”. International Journal of Energy Economics and Policy 2/3 (September 2012), 184-200.
JAMA Agarwal R, Zhang Z, Chusak L. Economics of Carbon Dioxide Sequestration versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois. IJEEP. 2012;2:184–200.
MLA Agarwal, Ramesh et al. “Economics of Carbon Dioxide Sequestration Versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois”. International Journal of Energy Economics and Policy, vol. 2, no. 3, 2012, pp. 184-00.
Vancouver Agarwal R, Zhang Z, Chusak L. Economics of Carbon Dioxide Sequestration versus a Suite of Alternative Renewable Energy Sources for Electricity Generation in U.S., California and Illinois. IJEEP. 2012;2(3):184-200.