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The Impact Of Carbon Capture And Storage On A Decarbonized German Power Market

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  • Stephan Spiecker

    ()

  • Volker Eickholt

    ()
    (Chair for Management Sciences and Energy Economics, University of Duisburg-Essen)

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    Abstract

    The European energy policy is substantially driven by the target to reduce the CO2-emissions significantly and to mitigate climate change. Nevertheless European power generation is still widely based on fossil fuels. The carbon capture and storage technology (CCS) could be part of an approach to achieve ambitious CO2 reduction targets without large scale transformations of the existing energy system. In this context the paper investigates in how far the CCS-technology could play a role in the European and most notably in the German electricity generation sector. To account for all the interdependencies with the European neighboring countries, the embedding of the German electricity system is modeled using a stochastic European electricity market model (E2M2s). After modeling the European side constraints, the German electricity system is considered in detail with the stochastic German Electricity market model (GEM2s). The focus is thereby on the location of CCS plant sites, the structure of the CO2-pipeline network and the regional distribution of storage sites. Results for three different European energy market scenarios are presented up to the year 2050. Additionally, the use of CCS with use of onshore and offshore sites is investigated.

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    File URL: http://www.wiwi.uni-due.de/fileadmin/fileupload/BWL-ENERGIE/Arbeitspapiere/RePEc/pdf/wp1304_TheImpactOfCarbonCaptureAndStorageOnADecarbonizedGermanPowerMarket.pdf
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    Bibliographic Info

    Paper provided by University of Duisburg-Essen, Chair for Management Science and Energy Economics in its series EWL Working Papers with number 1304.

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    Length: 24 pages
    Date of creation: Oct 2013
    Date of revision: Oct 2013
    Handle: RePEc:dui:wpaper:1304

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    Keywords: stochastic optimization; carbon capture and storage; power system economics;

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    References

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    1. Szolgayova, Jana & Fuss, Sabine & Obersteiner, Michael, 2008. "Assessing the effects of CO2 price caps on electricity investments--A real options analysis," Energy Policy, Elsevier, vol. 36(10), pages 3974-3981, October.
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    8. Lohwasser, Richard & Madlener, Reinhard, 2010. "Relating R&D and Investment Policies to CCS Market Diffusion Through Two-Factor Learning," FCN Working Papers 6/2010, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
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    11. Otto, Vincent M. & Reilly, John, 2008. "Directed technical change and the adoption of CO2 abatement technology: The case of CO2 capture and storage," Energy Economics, Elsevier, vol. 30(6), pages 2879-2898, November.
    12. Nykvist, Björn, 2013. "Ten times more difficult: Quantifying the carbon capture and storage challenge," Energy Policy, Elsevier, vol. 55(C), pages 683-689.
    13. Spiecker, Stephan & Vogel, Philip & Weber, Christoph, 2013. "Evaluating interconnector investments in the north European electricity system considering fluctuating wind power penetration," Energy Economics, Elsevier, vol. 37(C), pages 114-127.
    14. McFarland, James R. & Herzog, Howard J., 2006. "Incorporating carbon capture and storage technologies in integrated assessment models," Energy Economics, Elsevier, vol. 28(5-6), pages 632-652, November.
    15. Kraeusel, Jonas & Möst, Dominik, 2012. "Carbon Capture and Storage on its way to large-scale deployment: Social acceptance and willingness to pay in Germany," Energy Policy, Elsevier, vol. 49(C), pages 642-651.
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