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Can renewable energies with learning-by-doing compete with forest sequestration to cost-effectively meet the EU carbon target for 2050?

Münnich Vass, Miriam (2015). Can renewable energies with learning-by-doing compete with forest sequestration to cost-effectively meet the EU carbon target for 2050? Uppsala: (NL, NJ) > Dept. of Economics, Sveriges lantbruksuniversitet. Working paper series / Swedish University of Agricultural Sciences, Department of Economics ; 2015:04
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Abstract

Renewable energies have great potential to contribute to CO2 emission reductions by substituting for fossil fuels. This study examines whether renewable energies with learning-by-doing technical change can compete with forest sequestration to cost-effectively achieve the EU carbon target for 2050. Cost-effective abatement solutions are obtained from a dynamic, partial equilibrium model that accounts for three kinds of mitigation options: renewable energies and abatement in the forest and fossil fuel sectors. The results show a net present cost of reaching the target of approximately 286 billion Euros and a carbon price of 364 Euro/ton CO2 in 2050. Furthermore, the stock of renewables in 2050 can deliver twice as much as the current electricity production from renewables, which implies a contribution of 8.7% to meeting the emissions target. However, the cost per unit emissions reduction is at least fifteen-fold higher for renewables than for forest sequestration. Hence, the results indicate that renewables are unable to compete with forest sequestration unless they receive continued government support.

Authors/Creators:Münnich Vass, Miriam
Title:Can renewable energies with learning-by-doing compete with forest sequestration to cost-effectively meet the EU carbon target for 2050?
Series/Journal:Working paper series / Swedish University of Agricultural Sciences, Department of Economics (1401-4068)
Year of publishing :16 March 2015
Depositing date:16 March 2015
Number:2015:04
Number of Pages:44
Place of Publication:Uppsala
Publisher:Department of Economics, Swedish University of Agricultural Sciences
ISSN:1401-4068
Language:English
Publication Type:Report
Full Text Status:Public
Agris subject categories.:E Economics, development, and rural sociology > E11 Land economics and policies
P Natural resources > P06 Renewable energy resources
Subjects:(A) Swedish standard research categories 2011 > 5 Social Sciences > 502 Economics and Business > Economics
Agrovoc terms:forests, renewable energy, carbon dioxide, climate, environmental impact, costs, biofuels
Keywords:forest sequestration, renewable energy, cost-effective, EU climate policy, learning-by-doing
URN:NBN:urn:nbn:se:slu:epsilon-e-2508
Permanent URL:
http://urn.kb.se/resolve?urn=urn:nbn:se:slu:epsilon-e-2508
ID Code:11905
Faculty:NJ - Fakulteten för naturresurser och jordbruksvetenskap
Department:(NL, NJ) > Dept. of Economics
Deposited By: Mrs Miriam Munnich Vass
Deposited On:25 Mar 2015 12:51
Metadata Last Modified:06 Nov 2015 11:52

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