Energy security refers to the ability of a country or region to meet its energy needs without disruption or excessive reliance on imports.

Demand for energy is influenced by a combination of factors, including population growth, technological advancements, and economic development.

Renewable energy sources, such as solar and wind, do not emit greenhouse gases, which contribute to climate change.

The transition to renewable energy faces several economic challenges, including high upfront costs, the intermittency of renewable energy sources, and the need for infrastructure development.

A carbon tax aims to reduce greenhouse gas emissions by putting a price on carbon pollution, generating revenue for the government, and encouraging energy efficiency.

Externalities are costs or benefits that arise from energy production but are not reflected in the market price of energy, such as environmental pollution or health impacts.

Energy efficiency measures can lead to reduced energy costs, increased energy security, and reduced environmental impact.

Energy subsidies can be used to promote the production of certain energy sources, reduce the cost of energy for consumers, and encourage energy conservation.

Energy independence refers to the ability of a country to meet its energy needs without relying on imports, reducing its vulnerability to supply disruptions and price fluctuations.

The development of renewable energy technologies faces several economic challenges, including high research and development costs, lack of economies of scale, and the intermittency of renewable energy sources.

An energy portfolio is a mix of different energy sources used to meet a country's energy needs, aiming to diversify sources, ensure reliability and affordability, and reduce greenhouse gas emissions.

Energy storage technologies offer several economic benefits, including increased flexibility in the energy grid, reduced reliance on fossil fuels, and improved energy efficiency.

Peak demand refers to the highest level of energy demand during a specific period, typically occurring during times of high usage or extreme weather conditions.

The transition to a low-carbon economy faces several economic challenges, including high costs of renewable energy technologies, job losses in fossil fuel industries, and increased energy prices for consumers.

A renewable portfolio standard (RPS) aims to require utilities to generate a certain percentage of their electricity from renewable energy sources, provide financial incentives for the development of renewable energy technologies, and reduce greenhouse gas emissions.