Development of a sophisticated TIMES optimization model for energy, electricity and greenhouse gas emissions projections in Quebec (Canada)

ESMIA works closely with the these ministries for the development of a sophisticated TIMES optimization model linked with a general equilibrium model for Quebec. Unveiled for the first time during the presentation of the 2020 budget by the Quebec Minister of Finance, the optimization model brings a detailed techno-economic view on the different greenhouse gas (GHG) mitigation options that is complementary to the macroeconomic vision brought about their existing general equilibrium model. The powerful coupling of the two models allows to project energy and GHG emissions by 2050 based on various socio-economic growth scenarios, to study the interrelations between the economy, technological innovation and climate change mitigation options, to estimate sectoral GHG reduction potentials and to assess the impacts of numerous regulations and measures proposed to reach the -37.5% mitigation target for 2030.