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Incentives for early adoption of carbon capture technology: Further considerations from a European perspective

Listed author(s):
  • Albert Banal-Estañol

    (Université de Londres - Université de Londres)

  • Jeremy Eckhause

    (RAND Corp - RAND Corp)

  • Olivier Massol

    (IFPEN - IFP Energies Nouvelles - IFP Energies Nouvelles, IFP School - IFP Energies Nouvelles)

This note details two comments on a recent policy proposal in Comello and Reichelstein (2014) aimed at favoring the early adoption of Carbon Capture (CC) technology in the next generation of thermal-based power plants to be installed in the United States. First, we examine the implications of a worst-case scenario in which no new CC is adopted internationally beyond what is in place in 2014. Second, we show the potential, under the original proposed subsidy, for the emergence of coordination failures capable of hampering the desired early CC deployment. We propose and evaluate modified schedules of tax-credits sufficient to overcome these concerns. These additions strengthen the argument in the original article: namely, though higher incentive levels are necessary, our findings confirm that the cost of the proposed policy is not out of reach.

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File URL: https://hal.archives-ouvertes.fr/hal-01297599/document
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Paper provided by HAL in its series Post-Print with number hal-01297599.

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Date of creation: 2016
Publication status: Published in Energy Policy, Elsevier, 2016, pp.246-252. <10.1016/j.enpol.2015.12.006>
Handle: RePEc:hal:journl:hal-01297599
DOI: 10.1016/j.enpol.2015.12.006
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-01297599
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

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