William Harrel, 2013, Operations Research and Financial Engineering

William Harrel ’13

The goal of this project was to create a model of Solar Renewable Energy ­Credits (SRECs) to compute a forward price curve and assess the viability of solar energy, ­especially in Massachusetts. Working with Professor Powell, I created a multi-agent stochastic model and a simulation interface to run with many different input ­parameters. Upon ­completion, we noticed that the design of the credit system led to huge ­uncertainties, and this was discouraging companies from building solar energy. In response to these uncertainties, we worked to design a better system that would be more effective at stimulating growth, while still minimizing the cost for ratepayers and taxpayers. We have recently started working with two people from the Woodrow Wilson School to determine the best way to change our ideas from theory into actual policy. I learned quite a bit about energy systems, modeling, and programming this summer, and I am continuing my work as junior independent work. I had a fantastic time, and as I ­consider future ­summer plans, I will definitely be looking at academic positions so I can have another great experience.