Agent-Based Models of Energy Investment Decisions (Sustainability and Innovation)

As societies face the challenge of securing an efficient and environmentally sound energy supply, researchers have strived to determine the future development of energy consumption, infrastructure and technology endowment.

This book proposes a new agent-based approach to studying the development of urban energy systems. Decisions of private and commercial investors and operators are modeled using a bounded rational decision model which are parameterized by socio-economic data. The study goes on to analyze the impact of firms’ competition on technology diffusion and calculate diffusion curves for energy technologies such as solar collectors, boilers and efficiency upgrades for buildings. While making an important methodological contribution to the field of energy modelling, the author also presents practical results which will help urban planners and policy makers take more accurate decisions.