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The Pathway to NDC and Carbon Neutrality: Roles of Optimum Degree between Marginal Abatement Cost and Social Cost of Carbon in the Thai Power and Industrial Sector

Author

Listed:
  • Phitsinee Muangjai

    (Office of Research Administration, Chiang Mai University, Chiang Mai 50200, Thailand
    Faculty of Engineering, Chiang Mai University, Chiang Mai 50200, Thailand)

  • Wongkot Wongsapai

    (Faculty of Engineering, Chiang Mai University, Chiang Mai 50200, Thailand
    Multidisciplinary Research Institute, Chiangmai University, Chiang Mai 50200, Thailand)

  • Tassawan Jaitiang

    (Multidisciplinary Research Institute, Chiangmai University, Chiang Mai 50200, Thailand)

  • Chaichan Ritkrerkkrai

    (Office of Research Administration, Chiang Mai University, Chiang Mai 50200, Thailand
    Faculty of Engineering, Chiang Mai University, Chiang Mai 50200, Thailand)

  • Sopit Daroon

    (Program in Energy Engineering, Department of Mechanical Engineering, Faculty of Engineering, Chiang Mai University, Chiang Mai 50200, Thailand)

  • Waranya Thepsaskul

    (Program in Energy Engineering, Department of Mechanical Engineering, Faculty of Engineering, Chiang Mai University, Chiang Mai 50200, Thailand)

Abstract

Thailand has formulated its climate change policy and updated the relevant plans and policies to align with the goal of achieving carbon neutrality and net-zero greenhouse gas (GHG) emissions. This study investigated the optimal level of GHG mitigation in Thailand by taking into account the marginal abatement cost (MAC) and social cost of carbon (SCC). The research also evaluated how energy efficiency and renewable energy technologies could influence GHG reduction in the power and industrial sectors and illustrate policy recommendations that could be aligned with the 2020–2050 policy and plan period. The findings indicated that there could be instances where GHG mitigation potential would be insufficient to reach the national milestone. In such cases, it would become imperative to leverage all technologies within the marginal abatement cost curve (MACC) and also utilize the SCC for policy decision-making and meeting the desired goals. In certain scenarios, the adoption of additional technologies or measures would be necessary, such as flexible power generation and deploying carbon capture and storage or hydrogen, which are high-cost technologies. Furthermore, preparations should be made for multiple levels of climate change policies and plans beyond 2030.

Suggested Citation

  • Phitsinee Muangjai & Wongkot Wongsapai & Tassawan Jaitiang & Chaichan Ritkrerkkrai & Sopit Daroon & Waranya Thepsaskul, 2023. "The Pathway to NDC and Carbon Neutrality: Roles of Optimum Degree between Marginal Abatement Cost and Social Cost of Carbon in the Thai Power and Industrial Sector," Sustainability, MDPI, vol. 16(1), pages 1-24, December.
    • Handle: RePEc:gam:jsusta:v:16:y:2023:i:1:p:160-:d:1306044
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    1. van den Bergh, J.C.J.M. & Botzen, W.J.W., 2015. "Monetary valuation of the social cost of CO2 emissions: A critical survey," Ecological Economics, Elsevier, vol. 114(C), pages 33-46.
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    3. Malladi, Krishna Teja & Sowlati, Taraneh, 2020. "Impact of carbon pricing policies on the cost and emission of the biomass supply chain: Optimization models and a case study," Applied Energy, Elsevier, vol. 267(C).
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