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On a global scale, governments have expedited their objectives toward effective mitigation of climate change. Integrated Energy System Illustration. Image Credit: Heriot-Watt University. In this fight to handle the complicated and universal problem of climate change, what is evident is that no single technology or stakeholder can power the entire, timely decarbonization that is needed by the world and its people.
Thus, under this global energy transition, there is an unparalleled rise in decarbonization investments along with new levels of accessibility to both markets and energy systems. Therefore, the main research question is how well to comprehend and maximize the value proposition for various stakeholders.
As a result of the demand to fast-track decarbonization and to guarantee that this is an inclusive energy transition together with social justice and equity at its center, citizens need to comprehend the dynamics and interdependencies among economics, people, and technology.
Within the Smart Systems Group at Heriot-Watt University , a research group has been examining how Game-theoretic models could constitute a potential method to investigate tactical interactions between self-interested private energy system investors.
In this study, the researchers developed and assessed a game-theoretic framework to analyze planned interactions between profit-maximizing players who invest in a storage capacity, […]