Low-stabilisation scenarios and technologies for carbon capture and sequestration

Endogenous technology scenarios for meeting low stabilization CO2 targets are derived in this study and assessed regarding emission reductions and mitigation costs. The aim is to indentify the most important technology options for achieving low stabilization targets. The significance of an option is indicated by its achieved emission reduction and the mitigation cost increase, if this option were not available. Quantitative results are computed using a global multi-regional hard-linked hybrid model that integrates the economy, the energy sector and the climate system. The model endogenously determines the optimal deployment of technologies subject to a constraint on climate change. The alternative options in the energy sector comprise the most important mitigation technologies: renewables, biomass, nuclear, carbon capture and sequestration (CCS), and biomass with CCS as well as energy efficiency improvements. The results indicate that the availability of CCS technologies and espec. biomass with CCS is highly desirable for achieving low stabilization goals at low costs. The option of nuclear energy is different: although it could play an important role in the primary energy mix, mitigation costs would only mildly increase, if it could not be expanded. Therefore, in order to promote prudent climate change mitigation goals, support of CCS technologies reduces the costs and-thus-is desirable from a social point of view. © 2009 Elsevier Ltd. All rights reserved

Low-stabilisation scenarios and technologies for carbon capture and sequestration

Endogenous technology scenarios for meeting low stabilization CO2 targets are derived in this study and assessed regarding emission reductions and mitigation costs. The aim is to indentify the most important technology options for achieving low stabilization targets. The significance of an option is indicated by its achieved emission reduction and the mitigation cost increase, if this option were not available. Quantitative results are computed using a global multi-regional hard-linked hybrid model that integrates the economy, the energy sector and the climate system. The model endogenously determines the optimal deployment of technologies subject to a constraint on climate change. The alternative options in the energy sector comprise the most important mitigation technologies: renewables, biomass, nuclear, carbon capture and sequestration (CCS), and biomass with CCS as well as energy efficiency improvements. The results indicate that the availability of CCS technologies and espec. biomass with CCS is highly desirable for achieving low stabilization goals at low costs. The option of nuclear energy is different: although it could play an important role in the primary energy mix, mitigation costs would only mildly increase, if it could not be expanded. Therefore, in order to promote prudent climate change mitigation goals, support of CCS technologies reduces the costs and-thus-is desirable from a social point of view. © 2009 Elsevier Ltd. All rights reserved

Induced Technological Change: Exploring its Implications for the Economics of Atmospheric Stabilization: Synthesis Report from the Innovation Modeling Comparison Project

This paper summarizes results from ten global economy-energy-environment models implementing mechanisms of endogenous technological change (ETC). Climate policy goals represented as different CO2 stabilization levels are imposed, and the contribution of induced technological change (ITC) to meeting the goals is assessed. Findings indicate that climate policy induces additional technological change, in some models substantially. Its effect is a reduction of abatement costs in all participating models. The majority of models calculate abatement costs below 1 percent of present value aggregate gross world product for the period 2000-2100. The models predict different dynamics for rising carbon costs, with some showing a decline in carbon costs towards the end of the century. There are a number of reasons for differences in results between models; however four major drivers of differences are identified. First, the extent of the necessary CO2 reduction which depends mainly on predicted baseline emissions, determines how much a model is challenged to comply with climate policy. Second, when climate policy can offset market distortions, some models show that not costs but benefits accrue from climate policy. Third, assumptions about long-term investment behavior, e.g. foresight of actors and number of available investment options, exert a major influence. Finally, whether and how options for carbon-free energy are implemented (backstop and end-of-the-pipe technologies) strongly affects both the mitigation strategy and the abatement costs

Could resource rents finance universal access to infrastructure? A first exploration of needs and rents

It is often argued that, ethically, resource rents should accrue to all citizens. Yet, in reality, the rents from exploiting national resources are often concentrated in the hands of a few. If resource rents were to be taxed, on the other hand, substantial amounts of public money could be raised and used to cover the population's infrastructure needs, such as access to electricity, water, sanitation, communication technology and roads, which all play important roles in a nation's economic development process. Here, the authors examine to what extent existing resource rents could be used to provide universal access to these infrastructures

[Letter] Zero emission targets as long-term global goals for climate protection

Recently, assessments have robustly linked stabilization of global-mean temperature rise to the necessity of limiting the total amount of emitted carbon-dioxide (CO2). Halting global warming thus requires virtually zero annual CO2 emissions at some point. Policymakers have now incorporated this concept in the negotiating text for a new global climate agreement, but confusion remains about concepts like carbon neutrality, climate neutrality, full decarbonization, and net zero carbon or net zero greenhouse gas (GHG) emissions. Here we clarify these concepts, discuss their appropriateness to serve as a long-term global benchmark for achieving temperature targets, and provide a detailed quantification. We find that with current pledges and for a likely (>66%) chance of staying below 2 °C, the scenario literature suggests net zero CO2 emissions between 2060 and 2070, with net negative CO2 emissions thereafter. Because of residual non-CO2 emissions, net zero is always reached later for total GHG emissions than for CO2. Net zero emissions targets are a useful focal point for policy, linking a global temperature target and socio-economic pathways to a necessary long-term limit on cumulative CO2 emissions

Carbon Pricing Revenues Could Close Infrastructure Access Gaps

Introducing a price on greenhouse gas emissions would not only contribute to reducing the risk of dangerous anthropogenic climate change, but would also generate substantial public revenues. Some of these revenues could be used to cover investment needs for infrastructure providing access to water, sanitation, electricity, telecommunications, and transport. In this way, emission pricing could promote sustainable socio-economic development by safeguarding the stability of natural systems which constitute the material basis of economies, while at the same time providing public goods that are essential for human well-being. For a scenario that is consistent with limiting global warming to below 2°C, we find that domestic carbon pricing (without redistribution of revenues across countries) has substantial potential to close existing access gaps for water, sanitation, electricity, and telecommunication. However, for the majority of countries carbon pricing revenues would not be sufficient to pave all unpaved roads, and for most countries in Sub-Saharan Africa they would be insufficient to provide universal access to all types of infrastructure except water. If some fraction of the global revenues of carbon pricing is redistributed, e.g., via the Green Climate Fund, more ambitious infrastructure access goals could be achieved in developing countries. Our paper also bears relevance for the design of climate finance mechanisms, as it suggests that supporting carbon pricing policies instead of project based finance might not only permit cost-efficient emission reductions, but also leverage public revenues to promote human development goals

Integration of risk and uncertainty on levelized cost of electricity calculation

The electric sector is still largely dependent on non-renewable energy sources. The importance of using renewable energies is increasingly recognized all across the world yet they are not fully ready to compete with the mature and ancient technologies that use non-renewable energies. The economic characteristics of different energy technologies can be compared by using the method of levelized cost of electricity (LCOE). LCOE represents the total cost of a power plant including investment and operation and maintenance costs over the assumed life-cycle and discounted to account for the time-value of money. In this paper, an analysis of the levelized costs is proposed for two renewable technologies in Portugal: wind power and solar photovoltaic. Firstly, a deterministic value of LCOE was computed for both technologies. Secondly, recognizing the uncertainty associated with all the assumed parameters, a probabilistic risk analysis was conducted with Monte Carlo simulation to complement the analysis. The results show the high variability of the obtained LCOE values, largely influenced by the investment values and load factors.INCT-EN - Instituto Nacional de Ciência e Tecnologia para Excitotoxicidade e Neuroproteção(UID/CEC/00319/2013

The german energy transition: Societal experiment and social learning process

[No abstract available