TIMES-DK, the first Danish energy system model that includes the
complete national energy system and covers investments over the entire
modelling horizon (2050).
The development of the model was initiated from a growing need to be
able to prioritise and describe socioeconomic optimal pathways to a low-emissions
society across all economic sectors. Covering all sectors in a single model
speeds up the analysis process, while providing a consistent method of policy
evaluation across all the sectors. Another important consideration taken into
account in the development of TIMES-DK is that it is based on data sets that
are continuously maintained making it easier to update and refine the model.
Some of the key strengths of the model are simultaneous optimisation of
operation and investments across the complete energy system over the whole
modelling horizon, explicit representation of the most important sectors of the
economy, modular structure and a possibility of linking to a computable general
equilibrium model for an additional insight on e.g., public finance or
CO2-leakage.
TIMES-DK is developed in close collaboration between an energy agency, a
university and an SME, and allows for a wide range of applications including
exploratory energy scenarios and policy analysis. Besides, it benefits from the
continuous evolution of the TIMES model generator carried out by the ETSAP
community, as well as know-hows and insights generated within the community
through application of the TIMES models in the various parts of the world.