The project presents a novel integrated assessment model by combining bottom-up techno-economic model, metamodel, vintage stock model, and technology learning curve, based on updated aggregated plant-level data. Essentially, this study answers the following questions: What are the practical limits that various techniques could provide in fossil fuel power plant decarbonization (e.g. ton CO2 reduction)? How much are the corresponding change of levelized cost of electricity (e.g. $ per MWh electricity) and CO2 mitigation costs (e.g. $ per ton CO2 reduction)? It is, to the best of our knowledge, the first of its kind fossil power plant decarbonization potential assessment framework under progressive timeline with detailed technology representation and learning curve of individual power plant. It is believed that such approach would bring additional accuracy to the fossil fuel power plant emission accounting, thus shading light on the understanding of how much CO2 emission from fossil fuel power plant are bound to happen over the next decades and the real capability that various decarbonization techniques are able to offer in the stabilization wedges as well as corresponding economic penalties.
Useful Links
Cambridge Centre for Advanced Research and Education in Singapore (CARES)
Computational Modelling Group, University of Cambridge
J-Park Simulator, A Part of The World Avatar Project
Integrated Environmental Control Model, Carnegie Mellon University