SEES582 SPECIAL TOPICS: POWER SYSTEM ECONOMICS AND ENVIRONMENTAL POLICY MODELING
| Course Code: |
3900582 |
| METU Credit (Theoretical-Laboratory hours/week): |
3(0-0) |
| ECTS Credit: |
6.0 |
| Department: |
Sustainable Environment And Energy Systems |
| Language of Instruction: |
English |
| Level of Study: |
Masters |
| Course Coordinator: |
|
| Offered Semester: |
Fall and Spring Semesters. |
Course Content
This course investigates the substance of essential energy policy issues and provides the necessary skills for their planning with focus on sustainability. Electricity market restructuring and climate change mitigation are addressed as today’s two distinct energy and environmental policy challenges. Fundamentals of electricity markets are explored in the first part of the course. The market clearing mechanism for electricity trading in a competitive environment is elaborated elaborating the underlying microeconomic theory. Short- and long-run equilibrium conditions in the electricity market are studied. The grid and reliability issues are explored together with the implied formulations for modeling power flow and auctions. An interactive power market simulation game is included to complement the understanding of theoretical issues and diffusion prospects for sustainable energy systems. In the second part of the course, the basic concepts and different approaches used in energy and environmental policy modeling are explored ranging from technologically detailed bottom-up energy models to top-down policy models. Modeling energy flow and pollutant emissions, developing investment planning models to evaluate the diffusion prospects for renewable energy technologies, evaluating the impact of energy conservation and demand-side management on CO2 emissions, modeling the macroeconomy and representing energy-economy-environment interactions form the learning objectives of this part. The course includes an electricity market simulation game as well as various practical case studies applied using the GAMS software.
