Physics of Stocks and Flows in Action
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A fairly large number of energy policy models have been developed by using system dynamics approach over a period of about five decades. In this chapter, we present a snapshot view of some selected models to see how these stocks and flows-based models have contributed to the better understanding of various energy policy related issues. Specifically, we will describe: (i) the context and objective (i.e., who and why a model was developed), (ii) a brief overview of model structure (i.e., identification of its key structural elements), (iii) the validity of the model (i.e., how the validation, if any, of the model was conducted), and (iv) key insights and major policy implications.
KeywordsCapital Asset Electricity Sector Thermal Generation Power Authority Flexible Supply
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