Simulation of pathways toward low-carbon electricity generation in the Arctic

• Published in: Sustainability
• Main Authors: Witt, Magnus de, Valfells, Ágúst, Larsen, Joan Nymand, Stefánsson, Hlynur
• Other Authors: Department of Engineering, School of Humanities and Social Sciences
• Format: Article in Journal/Newspaper
• Language: English
• Published: 2022
• Subjects: Arctic energy; energy financing; energy transition; sustainable energy; system dynamics; Computer Science (miscellaneous); Environmental Science (miscellaneous); Geography; Planning and Development; Energy Engineering and Power Technology; Hardware and Architecture; Management; Monitoring; Policy and Law; Building and Construction; Computer Networks and Communications; Renewable Energy; Sustainability and the Environment; Arctic
• Online Access: https://hdl.handle.net/20.500.11815/3686; https://doi.org/10.3390/su142215311

Publisher Copyright: © 2022 by the authors. This paper examines the various pathways toward energy transition available to remote Arctic communities. Inhabitants of Arctic communities often face significant cost burdens due to high energy prices. Electricity costs are particularly high, due in part to the predominant use of diesel for electricity generation in over 80% of remote Arctic communities. This study examines the different approaches for integrating renewable energy sources, with a focus on the different strategies that might be implemented to finance the energy transition toward greater use of such renewable sources. The high costs associated with project realization in the remote Arctic present special challenges. This study uses a system dynamics model to evaluate the various financing tools available to facilitate the energy transition. The model results indicate that the integration of renewable energy sources has the potential to yield long-term electricity cost savings for the remote Arctic communities in question. Peer reviewed