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

Abstract

This study presents an economic model for evaluating U.S. electricity generation policies. It integrates non-renewable and renewable energy sources, demand-supply dynamics, and environmental constraints. The non-renewable sector includes coal, natural gas, and petroleum, while the renewable sector comprises nuclear, hydro, wind, solar photovoltaic, biomass wood, biomass waste, and geothermal energy. The model assesses electricity demand across residential, industrial, and commercial sectors to ensure a holistic policy framework. The electricity supply mechanisms are analyzed, differentiating between retail and wholesale consumers and considering variable pricing structures. Environmental considerations focus on CO2 emissions from fossil fuel combustion, ensuring sustainable policy assessments. The model also incorporates labor market dynamics, examining the impact of electricity policies on employment across different sectors. The findings indicate that balancing fossil fuel dependence with renewable energy investments is crucial for sustainable electricity generation. Regulatory measures are essential to reducing emissions while maintaining energy reliability. Policymakers can leverage these insights to formulate strategies that foster economic growth, environmental sustainability, and energy security. This study highlights the significance of comprehensive energy models in shaping informed decision-making. By integrating supply, demand, pricing, environmental impact, and employment, the model offers a framework for evaluating electricity policies. The results emphasize the need for strategic investments in renewable energy, regulatory interventions, and employment-focused energy policies. The transition toward a sustainable energy future requires data-driven approaches that ensure economic stability while addressing environmental concerns, making this model a valuable tool for policymakers and stakeholders in the energy sector.