Simulation of Pathways toward Low-Carbon Electricity Generation in the Arctic

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 electri...

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Bibliographic Details
Published in:Sustainability
Main Authors: Magnus de Witt, Ágúst Valfells, Joan Nymand Larsen, Hlynur Stefánsson
Format: Article in Journal/Newspaper
Language:English
Published: MDPI AG 2022
Subjects:
Arctic energy
sustainable energy
energy transition
system dynamics
energy financing
envir
geo
Arctic
Online Access:https://doi.org/10.3390/su142215311
https://doaj.org/article/1b5a4b0448764fb69561179032a46644
Description
Summary: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.

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