Abstract
One of the most formidable tasks facing humanity at the moment is how to solve the problems associated with energy supply and utilization. The issues are complex, to be sure, and they're compounded by seemingly conflicting objectives involving cost, sustainability, reliability, environmental soundness, free markets, and an energy supply that is accessible to all - anytime. Because there's special interest in enhancing the sustainability of a modern lifestyle, one approach to the problem is to use renewable resources - mainly solar and wind - to power the world economy. Some renewable resources have the added benefit of low environmental impact, especially in greenhouse gas production. There's also great interest in restructured energy and power markets that are called "free" or "liberalized" in some parts of the world and "deregulated" in the United States. The deregulation of the electric power industry in many venues has resulted in a new science and engineering of power marketing. There are complex basic challenges in solving the problems that are related to an unfettered power market that results in an environmentally sound production of electric power and also a reliable and low-cost solution.
| Original language | English (US) |
|---|---|
| Article number | 4787538 |
| Pages (from-to) | 69-78 |
| Number of pages | 10 |
| Journal | IEEE Power and Energy Magazine |
| Volume | 7 |
| Issue number | 2 |
| DOIs | |
| State | Published - Mar 2009 |
ASJC Scopus subject areas
- Energy Engineering and Power Technology
- Electrical and Electronic Engineering