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Identifying optimal technological portfolios for European power generation towards climate change mitigation: A robust portfolio analysis approach

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  • Forouli, Aikaterini
  • Doukas, Haris
  • Nikas, Alexandros
  • Sampedro, Jon
  • Van de Ven, Dirk-Jan

Abstract

Here, an integrative approach is proposed to link integrated assessment modelling results from the GCAM model with a novel portfolio analysis framework. This framework comprises a bi-objective optimisation model, Monte Carlo analysis and the Iterative Trichotomic Approach, aimed at carrying out stochastic uncertainty assessment and enhancing robustness. The approach is applied for identifying optimal technological portfolios for power generation in the EU towards climate change mitigation until 2050. The considered technologies include photovoltaics, concentrated solar power, wind, nuclear, biomass and carbon capture and storage, for which different subsidy curves for emissions reduction and energy security are considered.

Suggested Citation

  • Forouli, Aikaterini & Doukas, Haris & Nikas, Alexandros & Sampedro, Jon & Van de Ven, Dirk-Jan, 2019. "Identifying optimal technological portfolios for European power generation towards climate change mitigation: A robust portfolio analysis approach," Utilities Policy, Elsevier, vol. 57(C), pages 33-42.
    • Handle: RePEc:eee:juipol:v:57:y:2019:i:c:p:33-42
    DOI: 10.1016/j.jup.2019.01.006
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    2. Apostolos Arsenopoulos & Vangelis Marinakis & Konstantinos Koasidis & Andriana Stavrakaki & John Psarras, 2020. "Assessing Resilience to Energy Poverty in Europe through a Multi-Criteria Analysis Framework," Sustainability, MDPI, vol. 12(12), pages 1-22, June.
    3. Milstein, Irena & Tishler, Asher & Woo, Chi-Keung, 2022. "Wholesale electricity market economics of solar generation in Israel," Utilities Policy, Elsevier, vol. 79(C).
    4. Nikas, A. & Gambhir, A. & Trutnevyte, E. & Koasidis, K. & Lund, H. & Thellufsen, J.Z. & Mayer, D. & Zachmann, G. & Miguel, L.J. & Ferreras-Alonso, N. & Sognnaes, I. & Peters, G.P. & Colombo, E. & Howe, 2021. "Perspective of comprehensive and comprehensible multi-model energy and climate science in Europe," Energy, Elsevier, vol. 215(PA).

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