The CompactPRIMES model is designed as a one-shot country-specific model for single-country projections, aiming at addressing energy system planning, power generation investment, energy price forecasting (including removal of energy subsidies) and climate change mitigation policies including energy efficiency policies. The model incorporates energy related CO2 emissions, environmentally oriented policy instruments and emission abatement technologies. The model is designed for medium-term and long-term projections and produces analytical quantitative results in the form of detailed energy balances up to 2050/2070. The model is a simulator of:
- Energy demand by sector and by energy product driven by the development of activity, income and energy prices
- Energy supply by energy carrier driven by energy demand and costs
- Energy prices resulting from explicit market equilibrium, and
- Investment in demand and supply sectors, driven by costs, technology progress and the dynamic turnover of the energy capital in the various sectors.