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| 1 |
ID:
167020
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| Summary/Abstract |
Carbon capture utilization and storage (CCUS) technologies are crucial for achieving long-term climate change goals in China. Drawing on the 45Q tax credit provisions enacted by the U.S., three subsidy modes, two scenarios and two carbon emission reduction options are developed in this study, in which the real options approach combined with a trinomial tree model is employed to evaluate investment decisions made by coal-fired power plants (CFPP) in China. The results show that offering a 12-year CO2 storage subsidy to full-chain CCUS CFPP provides the motivation needed for CCUS investment during the 12-year subsidy period; however the economic benefits of such investment cannot be sustained over the 40-year lifetime. It's economically viable for CFPP to capture 90% CO2 emissions and sell them to oil enterprises for enhanced oil recovery (EOR) over a 40-year period. Besides, for full-chain CCUS CFPP the incentive effects of the 45Q subsidy mode and the full initial investment plus operation and maintenance (I + O&M) subsidy mode are much more suited to the 40-year emission reduction option, whereas the simple O&M subsidy mode is more suitable for the 12-year emission reduction option. However, for CO2-EOR projects, there is no significant difference between the three subsidy modes.
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| 2 |
ID:
125525
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| Publication |
2013.
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| Summary/Abstract |
To reduce gasoline consumption and emissions, the Chinese government has introduced a series of preferential policies to encourage the purchase of new energy vehicles (NEVs). However, enthusiasm for the private purchase of NEVs appears to be very low. This timely paper addresses the need for an empirical study to explore this phenomenon by identifying purchase motivations of potential NEV consumers and examining the impact of government policies introduced to promote NEVs in China. A questionnaire survey was carried out. The acceptance of NEVs is measured in three different logistic models: the willingness of consumers to purchase NEVs, the purchasing time, and the acceptable price. The results showed that financial benefits, performance attributes, environmental awareness and psychological needs are the four most important factors influencing consumers' acceptance of NEVs. Among these, performance attributes rather than financial benefits are the most important indicator. The moderating effect of government policies to relations between purchasing intention, time and price is not strong as respected while the policy implications are clear that the 'public awareness of government policy' functions as a moderator in the process of acceptance. These findings could give some hints to the government to make better NEV industry policy.
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| 3 |
ID:
185734
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| Summary/Abstract |
Coal-fired power plants (CFPPs) are the main source of CO2 emissions in China, and carbon capture, utilization, and storage (CCUS) is widely recognized as a key technology for achieving carbon neutrality in the power industry. However, due to the high investment risk and cost of CCUS technology, it has not yet entered commercialization. Based on a source-sink matching model, this study uses the Levelized Cost of Energy (LCOE) approach to evaluate the cost of electricity generation after retrofitting CCUS projects at plant-level to CFPPs nationwide and considers the incentive effects of carbon markets, subsidies for additional generation hours, and a U.S. 45Q tax credit policy. Analysis indicates that without any incentives, the LCOEs of Chinese CFPPs after retrofitting with CCUS range from −15 to 134 USD/MWh, with an average value of 73 USD/MWh. Multiple incentives used together will help the early development of CCUS projects, and if coal-fired CCUS is given the same subsidies as carbon-free electricity, this will promote the retrofitting of CCUS to CFPPs. These insights suggest that CCUS is a key cost-effective technology that can help China's existing CFPPs achieve economic decarbonization, and provide useful information for electric power enterprises and government decisionmakers.
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| 4 |
ID:
162323
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| Summary/Abstract |
A unified policy framework for energy and water would be beneficial considering the high interdependence of the two resources in China. In this paper, a recursive dynamic computable general equilibrium model is established to examine the existence of synergetic effects within water fee policy and energy related climate policy, i.e. carbon tax, and provide insights for Chinese integrative policy-making. The results show that water fee can contribute to industrial water conservation, whereas its effect is limited under current water fee level. The adoption of a carbon tax in addition to it might further improve its water saving benefits. Furthermore, water fee can also promote the enhancement of China's emission reduction goal, and a higher carbon tax and water fee rate can achieve greater emission reduction effects. At this point, the synergetic spillover effects that water conservation benefits will be achieved simultaneously via the transition of industry into a more low-carbon form is critical for elaborating an effective strategy of environmental policy. Besides, our results suggest that giving priority to renewable power is regarded as the silver bullet to address the water and emission constraints on energy system, as it can optimize the water conservation benefits of emission reduction.
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| 5 |
ID:
125441
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| Publication |
2013.
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| Summary/Abstract |
Carbon capture, utilization and storage (CCUS) technology will likely become an important approach to reduce carbon dioxide (CO2) emissions and optimize the structure of energy consumption in China in the future. In order to provide guidance and recommendations for CCUS Research, Development and Demonstration in China, a high level stakeholder workshop was held in Chongqing in June 2011 to develop a technology roadmap for the development of CCUS technology. This roadmap outlines the overall vision to provide technically viable and economically affordable technological options to combat climate change and facilitate socio-economic development in China. Based on this vision, milestone goals from 2010 to 2030 are set out in accordance with the technology development environment and current status in China. This study identifies the critical technologies in capture, transport, utilization and storage of CO2 and proposes technical priorities in the different stages of each technical aspect by evaluating indices such as the objective contribution rate and technical maturity, and gives recommendations on deployment of full-chain CCUS demonstration projects. Policies which would support CCUS are also suggested in this study.
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