Understanding the Physics of Stocks and Flows
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Human decision making albeit energy policy making has mostly been about managing various stocks (e.g., capital, people, money, technology). These stocks can only be managed by controlling their flows (i.e., decision makers can influence these stocks by regulating flows). These stocks and flows over time give rise to various dynamics of an energy system (i.e., imbalance between demand and supply of electricity increases (or decreases), renewable electricity generation capacity increases but with an unexpected rise in electricity price). In this chapter, we begin to unfold the physics of underlying stocks and flows of various feedback loops of energy systems.
KeywordsElectricity Increases Unexpected Rise Material Delays Feedback loopsFeedback Loops physicsPhysics
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