Here we talk of World Energy Model. Energy optimal utilization and conservation are two major factors concerning the economies across the world. The issues which are being pressed today are the prospects of oil and gas production and the effect on climate. Since 1993 IEA is using World Energy Model (WEM). WEM is a large scale mathematical model designed to replicate how energy markets function. For 2007 the World Energy Model updated with the cooperation of TERI in India (Tata Energy and Research Institute) and ERI in China (Energy Research Institute)
The WEM model is made up of the six modules. Energy demand, Power generation, refinery, Fossil fuel supply, Carbon Di Oxide Emissions, Investments. The main exogenous assumptions concern economic growth, demographics, international fossil fuel prices, technological developments etc.
Total final energy demand is the sum of energy consumption in each final demand sector. In each sub-sector or end-use, at least six types of energy are shown: coal, oil, gas, electricity, heat and renewables. However, this level of aggregation conceals more detail. For example, the different oil products are modelled separately as an input to the refinery model. The OECD regions and the major non-OECD regions are modelled in greater sectoral and end-use detail than other non-OECD regions for which data are less available. Within each sub-sector or end-use, energy demand is estimated as the product of an energy intensity variable and an activity variable.
The WEM fully incorporates a detailed bottom up approach for the transport sector in all regions. Transport modes are split between road, sea and pipeline transport. Road transport projects a gasoline / diesel fuel split. The activity levels are either accounted in passenger kilometers or tonne – kilometers.
Total final energy demand is the sum of energy consumption in each final demand sector. In each sub-sector or end-use, at least six types of energy are shown: coal, oil, gas, electricity, heat and renewables. However, this level of aggregation conceals more detail. For example, the different oil products are modelled separately as an input to the refinery model. The OECD regions and the major non-OECD regions are modelled in greater sectoral and end-use detail than other non-OECD regions for which data are less available. Within each sub-sector or end-use, energy demand is estimated as the product of an energy intensity variable and an activity variable.
The WEM fully incorporates a detailed bottom up approach for the transport sector in all regions. Transport modes are split between road, sea and pipeline transport. Road transport projects a gasoline / diesel fuel split. The activity levels are either accounted in passenger kilometers or tonne – kilometers.
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