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System Dynamics Modeling of the Massachusetts SREC Market
Meister Consultants Group, 98 North Washington Street, Boston, MA 02114, USA
Massachusetts Department of Energy Resources, 100 Cambridge Street, Suite 1020, Boston, MA 02114, USA
* Author to whom correspondence should be addressed.
Received: 4 August 2010; in revised form: 19 August 2010 / Accepted: 20 August 2010 / Published: 31 August 2010
Abstract: As states across the country struggle to increase local development of renewable energy, policymakers are turning to innovative program designs to meet their renewable electricity targets. Massachusetts recently adopted a unique, auction-based price support mechanism for the solar portion of its renewable portfolio standard. During the program development process, the Massachusetts Department of Energy Resources (DOER) used system dynamics to simulate potential solar renewable energy certificate market conditions under the proposed regulations. The modeling exercise resulted in several program design changes that will lead to a more stable certificate market. System dynamics can be a useful tool for developing and improving sustainability programs.
Keywords: solar; system dynamics; renewable portfolio standard; renewable energy certificate; auction
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Flynn, H.; Breger, D.; Belden, A.; Bier, A.; Laurent, C.; Andrews, N.; Rickerson, W. System Dynamics Modeling of the Massachusetts SREC Market. Sustainability 2010, 2, 2746-2761.
Flynn H, Breger D, Belden A, Bier A, Laurent C, Andrews N, Rickerson W. System Dynamics Modeling of the Massachusetts SREC Market. Sustainability. 2010; 2(9):2746-2761.
Flynn, Hilary; Breger, Dwayne; Belden, Andrew; Bier, Asmeret; Laurent, Chad; Andrews, Natalie; Rickerson, Wilson. 2010. "System Dynamics Modeling of the Massachusetts SREC Market." Sustainability 2, no. 9: 2746-2761.