How to make better energy policy decisions? The stock and flow perspective Online publication date: Tue, 27-Mar-2018
by Hassan Qudrat-Ullah; Muhammad Ashiq; Naveed Subhani
International Journal of Energy Technology and Policy (IJETP), Vol. 14, No. 2/3, 2018
Abstract: Energy policy issues and challenges abound. This paper addresses the energy policy as a complex, dynamic task whereby the planners and decision makers manage 'stocks' of limited resources. The stock and flow perspective provides a unique and powerful set of tools to better equip the policy decision makers to take on these challenges. By making use of various tools and techniques of system dynamics methodology such as causal loop diagrams, stock and flow diagrams, mathematical formulations, and structure-behaviour graphs of various energy system processes, it is shown how the stock and flow perspective can effectively address energy policy issues. With an understanding of the physics of underlying feedback loop structures of an energy system, and structure-behaviour graphs of various energy system processes including energy demand, policy incentives and inter-fuel substitution mechanism, and energy supply, the energy policy decision makers are expected to develop insights and make better decisions.
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