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Transformation Patterns of the Worldwide Energy System - Scenarios for the Century with the POLES Model

Abstract:
This paper presents a long-term assessment of the worldwide energy system in scenarios ranging from a baseline to a very low greenhouse gas stabilization, using the energy model POLES. Despite improved energy efficiency, the baseline scenario would lead to a doubling in energy consumption by 2050 increasing further thereafter. CO2 emissions would continue rising, driven by the coal consumed in the power production which roughly follows the GDP growth; the scarcity of oil resources would trigger the development of alternative vehicles. Conversely, a 400 ppm CO2 eq stabilization case would lead to drastic changes in supply (renewables - biomass), transformation (carbon capture and storage) and demand (low energy technologies). It transpires that the contribution to the reduction effort of low stabilization compared to a baseline scenario would be similar for final consumption (36% efficiency and 10% fuel mix) and for the power sector (25% renewables, 25% CCS, 4% nuclear). In addition this low emission scenario would alleviate the tensions on fossil energy markets.

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Energy Specializations: Petroleum – Exploration and Production; Energy Modeling – Other; Energy and the Environment – Policy and Regulation

JEL Codes:
D24 - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
C59 - Econometric Modeling: Other
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Low CO2 stabiliization, POLES model,

DOI: 10.5547/ISSN0195-6574-EJ-Vol31-NoSI-3

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Published in Volume 31, Special Issue of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.