Generating Electricity in a Carbon-Constrained World

Fereidoon Sioshansi, Fereidoon P. Sioshansi

• Publisher: Academic Press
• Year: 2009
• Print ISBN: 9781856176552
• eBook ISBN: 9780080889719
• Topic: Technology & Engineering
• Subtopic: Electrical Engineering & Telecommunications
• Index: Technology & Engineering

The electric power sector is what keeps modern economies going, and historically, fossil fuels provided the bulk of the energy need to generate electricity, with coal a dominant player in many parts of the world. Now with growing concerns about global climate change, this historical dependence on fossil-fuels, especially those rich in carbon, are being questioned. Examining the implications of the industry's future in a carbon-constrained world, a distinct reality, is the subject of this book.Containing contributions from renowned scholars and academics from around the world, this book explores the various energy production options available to power companies in a carbon-constrained world. The three part treatment starts with a clear and rigorous exposition of the short term options including Clean Coal and Carbon Capture and Sequestration Technology, Coal, and Emission trading. Renewable energy options such as Nuclear Energy, Wind power, Solar power, Hydro-electric, and Geothermal energy are clearly explained along with their trade-offs and uncertainties inherent in evaluating and choosing different energy options and provides a framework for assessing policy solutions.This is followed by self-contained chapters of case-studies from all over the world. Other topics discussed in the book are Creating markets for tradable permits in the emerging carbon era, Global Action on Climate Change, The Impossibility of Staunching World CO2 Emissions and Energy efficiency.- Clearly explains short term and long term options- Contributions from renowned scholars and academics from around the world- Case-studies from all over the world

Chapter 1. Stabilizing World CO₂ Emissions

A Bridge Too Far?

Alan Moran

Institute of Public Affairs

Abstract

Proposals have been made to reduce greenhouse gas emissions by 20 to 50 percent of prevailing levels to address concerns about climate change. These goals would require emissions to be reduced to 3.4 and 2 tonnes of carbon dioxide per capita, respectively, with corresponding reductions in other greenhouse gases. U.S. emissions are currently 20 tonnes per capita, and the Organization for Economic Cooperation and Development (OECD) countries as a whole are at 11.5 tonnes; China already exceeds 3.4 tonnes per capita. Even in those developed economies that are not predominantly reliant on fossil fuel for electricity generation, emissions far exceed the targets under discussion. If emission reduction targets are to be met alongside higher living standards, solving this problem will require unprecedented ingenuity.

1.1. Introduction

Contrary to many assertions, including those of the Stern report on the economics of climate change, ¹ the costs of reducing emissions of carbon dioxide (CO₂) and other greenhouse gases will be considerable.

¹Stern Review. Economics of Climate Change. 2006. www.hm-treasury.gov.uk/stern_review_final_report.htm

Though urging greater reductions in emissions, many countries have lowered their own emission reduction bars; Australia, for example, counts reductions in land clearing as contributing to its goal. Almost all OECD countries, however, have incurred considerable costs in subsidies to renewables and other measures involving regulating use of energy and energy-using goods. In spite of these reductions and notwithstanding that the first level of cuts is likely to be the easiest, few signatories to the Kyoto Convention will meet the obligations to which they agreed. The OECD group as a whole in 2005 had increased emissions by 20 percent over 1990 levels.

Far more draconian emission reductions are required than agreed to at Kyoto for the period to 2012 if the world is to see a reduction in the concentration of CO₂ and other gases said to be responsible for climate change. This would require vigorous action by all countries, including developing countries, the emissions of which have now surpassed those of the developed world. On average, developing countries' currently have only one quarter of developed countries' per capita emissions.

Developed countries have been reducing their emissions relative to their GDP levels, partly by increasingly outsourcing energy-intensive manufactured goods to developing countries, including oil- and gas-rich countries. This relocation of production, which the Intergovernmental Panel on Climate Change (IPCC) claims has only had a minor effect, does not, of course, bring a global reduction.

At Bali in 2007, the lowest figure discussed for a reduction in emission levels was 20 percent. This means bringing global emissions down from their 2004 levels of 29 gigatonnes (Gt) of CO₂ equivalent to 23 Gt. Under a business-as-usual scenario, emissions in 2030 would grow to 43 Gt. The July 2008 G8 summit agreed on a target of 50 percent reduction in global emissions by 2050 but specified neither a base date nor any intermediate targets.

In per capita terms, adjusted for population growth, 23 Gt translates to some 2.7 tonnes down from the present 4 tonnes. ² Currently the United States represents around 20 tonnes, and even China is now approaching 4 tonnes.

²As Fawcett, Hvelplund, and Meyer point out in Chapter 4, German Chancellor Angela Merkel was calling for a halving of global emission leve...

Table of contents

• Cover Image
• Table of Contents
• Copyright
• Dedication
• Foreword
• Preface-Reducing the Carbon Footprint: A Multidimensional Problem
• About the Contributors
• Introduction-Carbon Constrained: The Future of Electricity Generation
• Chapter 1. Stabilizing World CO2 Emissions
• Chapter 2. Carbon Policies
• Chapter 3. Emerging Carbon Markets and Fundamentals of Tradable Permits
• Chapter 4. Making It Personal
• Chapter 5. Addressing Climate Change
• Chapter 6. Eliminating CO2 Emissions from Coal-Fired Power Plants
• Chapter 7. The Role of Nuclear Power in Climate Change Mitigation
• Chapter 8. Barriers and Policy Solutions to Energy Efficiency as a Carbon Emissions Reduction Strategy
• Chapter 9. Wind Power
• Chapter 10. Solar Energy
• Chapter 11. Geothermal Power
• Chapter 12. Hydroelectricity
• Chapter 13. Ontario
• Chapter 14. Kicking the Fossil-Fuel Habit
• Chapter 15. Carrots and Sticks
• Chapter 16. CO2 Regulations
• Chapter 17. Low-Carbon Electricity Development in China
• Chapter 18. California Dreaming
• Chapter 19. RTOs, Regional Electricity Markets, and Climate Policy
• Epilogue. Two Surprises and One Insight
• Index