A New Generation of Energy-Economy Modeling at the U.S. Energy Information Administration

TL;DR

This paper discusses the development of a new, advanced energy-economy modeling framework by the U.S. EIA to better understand long-term energy system evolution and inform decision-making.

Contribution

It introduces a modular, flexible, and transparent modeling framework designed to address current limitations and evolving demands in energy-economy modeling.

Findings

Current models have limitations in capturing energy system dynamics.

The new framework aims to improve scenario analysis and policy assessment.

Active development is underway for this advanced modeling system.

Abstract

Given the rapid pace of energy system development, the time has come to reimagine the U.S. Government's capability to model the long-term evolution of the domestic and global energy system. As a primary custodian of these capabilities, the U.S. Energy Information Administration (EIA) is embarking on the development of a long-term, modular, flexible, transparent, and robust modeling framework that can capture the key dynamics driving the energy system and economy under a wide range of future scenarios. This new capability will leverage the current state of the art in modeling to produce critical insight for researchers, decision makers, and the public. We describe the evolving demands on energy-economy modeling, the capacity and limitations of existing models, and the key features we see as necessary for addressing these demands in our new framework, which is under active development.