Modelling global renewables targets

This project for the International Renewable Energy Agency (IRENA) looked at the potential impact on energy markets and the global economy of three possible futures using different mixes of renewable energy.

Key stages were:

• a literature review of research on the macroeconomic costs of energy and climate change mitigation policy;
• expansion of our E3ME model to provide a more detailed geographical coverage;
• macroeconomic assessment using the expanded version of E3ME; and
• presentation of the results in an accessible form for policy-makers

E3ME was expanded to improve its treatment of: South Africa, Ukraine, Saudi Arabia and Nigeria, while the project also included additional econometric analyses for Iran, Algeria, Malaysia, Egypt, Kenya and Morocco.