Energy Policy Making: A Complex Dynamic Task
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In our modern-day life, energy policy has always been at the forefront of public debates, legislative fora, and public and corporate decision making. Decision makers constantly have to find ways to balance the two critical aspects of any energy policy: economic welfare and environmental degradation. There is a basic dilemma in energy use. Energy use can contribute to economic growth and development activities, while at the same time, it is one of the biggest sources of environmental emissions that pose a serious threat to the sustainability of our planet. How to overcome such challenges? This research shows that the identification of the key stocks and flows of an energy system and the understanding of the physics of these interacting stocks and flows play a fundamental role in the design and assessment of an effective and efficient energy policy.
KeywordsDecision Maker Energy System Energy Policy Electricity Price Hydro Power
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