Steven Sala has been a quantitative analyst at Bank of America Merrill Lynch (BAML) since 2017. Before completing his Masters of Finance at Illinois Institute of Technology he was an instructor of physics and mathematics at a secondary and junior college level. He also has a degree in physics from Rutgers University. While at IIT he worked with Professor Sang Kang on the economics of energy stations and government policy. Shortly after joining BAML, he received recognitions for identifying savings opportunities and working with the desk to execute those items. Steven’s current work involves modeling and efficiency, liquidity stress modeling, and collateral allocation/optimization. Outside work, Steven competes in powerlifting and holds several state titles.
This paper looks at the conditions under which a reasonable green policy by a US state encourages the early replacement of existing coal plants with new natural gas plants.