Carbon mitigation in the electric power sector under cap-and-trade and renewables policies |
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| Affiliation: | 1. Jinan University, Guangzhou 510632, China;2. IPAG Business School, IPAG Lab, 184 Boulevard Saint-Germain, 75006 Paris, France;3. Université Paris 8, LED, 2 avenue de la Liberté, 93526 Saint-Denis Cedex,Cedex, France;4. Center for Energy and Environmental Policy Research, Beijing Institute of Technology, Beijing 100081, China;1. Crawford School of Public Policy, Australian National University, Canberra 0200, ACT, Australia;2. University of Münster, Department of Economics, 48143 Münster, Germany;3. University of International Business and Economics, Beijing 100029, China;4. Centre for European Economic Research (ZEW), Mannheim, Germany;1. Key Lab on Pollution Ecology and Environmental Engineering, Institute of Applied Ecology, Chinese Academy of Sciences, No. 72 Wenhua Road, Shenyang 110016, China;2. Social and Environmental Systems Division, National Institute for Environmental Studies, 16-2 Onogawa, Tsukuba City, Ibaraki 305-8506, Japan;3. School of Environmental Science and Engineering, Shanghai Jiao Tong University, No. 800 Dongchuan Road, Minhang, Shanghai 200240, China;4. University of Chinese Academy of Sciences, No. 19A Yuquan Road, Beijing 100049, China;5. Department of Social Engineering, Tokyo Institute of Technology, 2-12-1 Ookayama, Meguro-ku, Tokyo 152-8550, Japan;1. MOE Key Laboratory of Northwest Water Resource Environment and Ecology, Faculty of Environmental and Municipal Engineering, Xi''an University of Architecture and Technology, Xi''an 710055, Shanxi Province, China;2. MOE Key Laboratory of Regional Energy Systems Optimization, Resources and Environmental Research Academy, North China Electric Power University, Beijing 102206, China;3. Environmental Systems Engineering Program, Faculty of Engineering and Applied Science, University of Regina, Regina, Sask. S4S 0A2, Canada;4. Faculty of Applied Science & Engineering, University of Toronto, Toronto, ON M5S 1A4, Canada |
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| Abstract: | In Europe, CO2 emissions from the electric power sector and energy intensive industries are capped under a cap-and-trade system (i.e., the EU ETS). When other indirect measures are taken to impact emissions in a specific sector under the cap (such as a push for renewables in the electric power sector), this has implications on the overall allowance price, and on CO2 emissions both from this specific sector and the other sectors under the cap. The central contribution of this paper is the derivation of impact curves, which describe these interactions, i.e., the impact on allowance price and the shift of emissions across sectors. From a set of detailed simulations of the electric power system operation, a so-called “emission plane” is obtained, from which impact curves can be derived. Focus is on interactions between CO2 abatement through fuel switching and measures affecting the residual electricity demand (such as deployment of renewables) in the electric power sector, as well as on interactions with other sectors, both in a short-term framework. A case study for Central-Western Europe is presented. The analysis reveals a substantial impact of renewables on CO2 emissions, and hence on emissions shifts across sectors and/or on the CO2 price. |
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| Keywords: | Renewables Cap-and-trade EU ETS Policy interaction effects Electric power sector |
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