Learn and respond
ClimBiz enables you to explore how your company might respond to a range of future climate trends and variability.
You can assess both the possibilities ahead and the uncertainties as well. Here we consider renewable generation options for the hypothetical Virtual Electric Power Company (VEPCO). A simplified influence diagram for a VEPCO simulation is shown below.
ClimBiz assembles solar insolation projections from a number of computer climate change simulations to create evolving probability distributions of the available solar energy, red denoting larger values, blue smaller. Similar distributions for temperature and available hydropower complete the climate information.
Simulations of VEPCO performance for the rest of the 21st century are computed for 5 solar and 5 hydro options, giving 25 pairs of expected cost and volatility (standard deviation) as averaged over periods two decades long. VEPCO planners can compare options with low cost and high volatility to those with higher cost and less volatility.