Sustainable Power Choices: An Analysis of CO2 Mitigation and Renewable Energy in USA

Abstract

An intricate economic model has been meticulously devised to evaluate policies associated with electricity generation within the United States. This sophisticated framework meticulously accounts for the equilibrium between non-renewable and renewable energy sources, taking into consideration multifaceted elements such as the intricacies of demand and supply dynamics. Furthermore, the model incorporates a discerning analysis of environmental constraints, ensuring a holistic approach to the assessment of policies governing the nation's electricity generation landscape. Within the non-renewable energy sector, a nuanced analysis is conducted across three distinct fossil fuels—coal, natural gas, and petroleum—each contributing to the intricate web of energy production. Concurrently, the renewable sector incorporates a diverse array of sources, including nuclear, hydraulic, wind, solar photovoltaic, biomass wood, biomass waste, and geothermal resources, all of which collectively shape the sustainable energy landscape. The economic model's expansive scope extends beyond the energy sources themselves to include a meticulous examination of various energy demand sectors. These sectors encompass the residential domain, industrial manufacturing processes, and the expansive realm of non-manufacturing commercial enterprises. By incorporating such a comprehensive perspective, the model ensures a thorough and holistic assessment of policies related to electricity generation in the United States, catering to the intricate interplay between energy sources and diverse sectors. The energy supply facet of the model meticulously accounts for the electricity provided to consumers by utility companies, discerning between retail and wholesale customers and considering the variable pricing structures associated with each. Environmental considerations are predominantly centered on the discernment of CO2 emissions stemming from the combustion of fossil fuels. Furthermore, this comprehensive model extends its purview to encompass the employment landscape across various sectors, acknowledging the intricate interplay between labor supply and demand dynamics.