Dr. Katya Rhodes releases a pan-Canadian review of energy-economy models
Dr. Katya Rhodes and her co-authors, Kira Craig (Uvic), Aaron Hoyle (SFU), and Dr. Madeleine McPherson (UVic), released a SSHRC-funded public report comparing and contrasting energy-economy models used in the public, private, and not-for-profit sectors in Canada over the past decade.
Energy-economy models play an increasingly important role in informing climate policy decisions, yet their results lack consistency in terms of projected greenhouse gas emissions and economic impacts. Using a narrative literature review and a national expert survey, the report develops the first Canadian energy-economy modelling inventory to help climate policy-makers chose the most suitable models for their policy questions, fostering the implementation of effective policies to meet Canada’s climate targets. The report identifies 24 energy-economy models that have similarities and differences. Models that share similarities in over-arching methodological approaches are also similar in the way they represent technologies, market heterogeneity, trade effects, different policy types, and energy equilibrium. Conversely, there are quite diverse approaches among the models with regards to the representation of technological change, non-financial decision factors, financial or monetary features, and non-energy equilibrium. All models use at least one method to explore uncertainty, rarely incorporate spatial and temporal representations, and lack methodological documentation. Based on this assessment, the report offers six best practice suggestions for improving energy-economy models and discusses knowledge gaps for future research.
Full report: https://www.uvic.ca/hsd/publicadmin/assets/docs/sshrc-report_ee-models.pdf
Energy-economy models play an increasingly important role in informing climate policy decisions, yet their results lack consistency in terms of projected greenhouse gas emissions and economic impacts. Using a narrative literature review and a national expert survey, the report develops the first Canadian energy-economy modelling inventory to help climate policy-makers chose the most suitable models for their policy questions, fostering the implementation of effective policies to meet Canada’s climate targets. The report identifies 24 energy-economy models that have similarities and differences. Models that share similarities in over-arching methodological approaches are also similar in the way they represent technologies, market heterogeneity, trade effects, different policy types, and energy equilibrium. Conversely, there are quite diverse approaches among the models with regards to the representation of technological change, non-financial decision factors, financial or monetary features, and non-energy equilibrium. All models use at least one method to explore uncertainty, rarely incorporate spatial and temporal representations, and lack methodological documentation. Based on this assessment, the report offers six best practice suggestions for improving energy-economy models and discusses knowledge gaps for future research.
Full report: https://www.uvic.ca/hsd/publicadmin/assets/docs/sshrc-report_ee-models.pdf