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The economics of low stabilization: Model comparison of mitigation strategies and costs

The economics of low stabilization: Model comparison of mitigation strategies and costs

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Edenhofer, Ottmar, Knopf, Brigitte, Barker, Terry, Baumstark, Lavinia, Bellevrat, Elie, Chateau, Bertrand, Criqui, Patrick, Isaac, Morna, Kitous, Alban Kitous, Kypreos, Socrates, Leimbach, Marian, Lessmann, Kai, Magne, Bertrand, Scrieciu, Serban, Hal Turton, Hal and van Vuuren, Detlef P. (2010) The economics of low stabilization: Model comparison of mitigation strategies and costs. The Energy Journal, 31. pp. 11-48. ISSN 0195-6574 (Print), 1944-9089 (Online) (doi:10.5547/ISSN0195-6574-EJ-Vol31-NoSI-2)

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Abstract

This study gives a synthesis of a model comparison assessing the technological feasibility and economic consequences of achieving greenhouse gas concentration targets that are sufficiently low to keep the increase in global mean temperature below 2 degrees Celsius above pre-industrial levels. All five global energy-environment-economy models show that achieving low greenhouse gas concentration targets is technically feasible and economically viable. The ranking of the importance of individual technology options is robust across models. For the lowest stabilization target (400 ppm CO2 eq), the use of bio-energy in combination with CCS plays a crucial role, and biomass potential dominates the cost of reaching this target. Without CCS or the considerable extension of renewables the 400 ppm CO2 eq target is not achievable. Across the models, estimated aggregate costs up to 2100 are below 0.8% global GDP for 550 ppm CO2 eq stabilization and below 2.5% for the 400 ppm CO2 eq pathway. Copyright © 2010 by the IAEE.

Item Type: Article
Additional Information: [1] Published in The Energy Journal - The Quarterly Journal of the IAEE's Energy Economics Education Foundation Volume 31, Special Issue. First published in 2010. [2] Published as: The Energy Journal (2010) Volume 31, Special Issue, pp. 11-48.
Uncontrolled Keywords: greenhouse gas, economic theory, environmental targets, CO2, carbon dioxide, Greenhouse gas mitigation, model comparison, low stabilization, MERGE-ETL, REMIND-R, POLES, TIMER, E3MG
Subjects: H Social Sciences > HB Economic Theory
Faculty / Department / Research Group: Faculty of Engineering & Science > Natural Resources Institute
Related URLs:
Last Modified: 09 Dec 2013 10:50
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
URI: http://gala.gre.ac.uk/id/eprint/9774

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