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Carbon Tax and Renewable Energy Diffusion in the Deregulated Texas Electricity Market: An Agent-Based Analysis

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DOI: 10.4236/jpee.2015.34052    3,515 Downloads   3,809 Views  

ABSTRACT

In the United States, emission regulations are enacted at a state level; individual states are allowed to define what methods they will use to mitigate their carbon emissions. The consequence of this is especially interesting in the state of Texas where new legislation has created a “deregulated” electricity market in which end-users are capable of choosing their electricity provider and subsequently the type of electricity they wish to consume (generated by fossil fuels or renewable sources). In this paper we analyze the effects of carbon tax on the development of renewable generation capacity at the utility level while taking into account expected adoption of rooftop PV systems by individual consumers using agent based modeling techniques. Monte Carlo simulations show carbon abatement trends and proffer updated renewable portfolio standards at various levels of likelihood.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

Halperin, J. and Tsai, I. (2015) Carbon Tax and Renewable Energy Diffusion in the Deregulated Texas Electricity Market: An Agent-Based Analysis. Journal of Power and Energy Engineering, 3, 384-393. doi: 10.4236/jpee.2015.34052.

References

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