AbstractStrategic energy planning is concerned with investments in energy technologies with long lead times and long life times. Of special interest are uncertainties about future developments that could lead to a major reappraisal of the cost‐efficiency of different energy technologies. Decision making in this context is concerned, therefore, with finding a solution to the decision problem which is both low‐cost and robust. Here, a method is described for using hedging to improve the robustness of the energy system. The method is applied using a standard energy systems model, MARKAL. It is shown how the model results can be used for a quantitative analysis of the robustness of the energy system. A study of the Swedish energy system is used as an example, where the uncertain factor is whether or not future restrictions on CO2emissions will be impo
展开▼