Feature Article—Energy Policy Modeling: A Survey

Abstract

This survey provides an exposition of seven technoeconomic models that are representative of recent work on energy policy. The paper begins with several microeconomic concepts related to energy conservation and to energy-economy interactions. We then examine three representative medium-term models which deal with pricing, import policy and investment decisions in today's conventional supply technologies. Next, we analyze four studies dealing with longer-range issues—alternative research and development strategies for a transition away from depletable energy resources. The paper concludes with a summary of unresolved issues, and with suggestions on the future role of modeling in the public policy process.