Clean Energy and Climate Change
description
Transcript of Clean Energy and Climate Change
Clean Energy and Climate Change
Chris Mottershead
integrated response to key drivers
security of energysupply
changes to our environment
economic growth and social progress
carbon constraint
1990 2050
fossil fuel base
carb
on
em
issi
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7Gtc/year
• there are many uncertainties, and science is always provisional• precautionary action to limit global temperature changes to around 2oC • means limiting atmospheric concentrations of CO2 to 500-550ppm• and therefore aiming for 7Gtc/year of emissions by 2050
reducing emission intensity
1990 2050
reduction in carbon intensity
(environmental incentives)
fossil fuel base
carb
on
em
issi
on
s
technology enabled breakthroughs
1990 2050
reduction in carbon intensity
(environmental incentives)
technology enabled breakthroughs
(economic growth incentives)
fossil fuel base
carb
on
em
issi
on
s
policy regimes
1990 2050
lower carbon economy
engagement and emission
constraintsbusiness development
and competition
reduction in carbon intensity
(environmental incentives)
technology enabled breakthroughs
(economic growth incentives)
fossil fuel base
carb
on
em
issi
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stabilization wedge
Rob Socolow and Steve Pacala Princeton University
20502000
14
7Gtc/year
19500
Stabilization Triangle
current p
ath
seven 1Gtc/year wedges
Stabilization
Triangle
Flat path
1 “wedge”
Flat path
1 wedge
20502000
14
7
19500
7 wedgesare needed to
build the stabilisation
Wedge
1 wedgeavoids 1 billion
tonnes of carbon emissions
per year by 2050
possible 1Gtc/year wedges
1. internal combustion engine efficiency
2. demand side reductions, e.g. reduce use of vehicles
3. buildings energy efficiency
4. industrial process efficiency
5. efficient baseload coal plant
6. gas for coal power
7. carbon capture & storage for power
8. carbon capture & storage for transport, e.g. synfuels from coal
9. nuclear
10.wind
11.pv solar
12.biomass for transport and power
13.hydrogen from gas
14.zero emission hydrogen
15.forestation
16.tillage
climate change – the BP journey1
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BP acknowledges need for precautionary action to cut GHG emissions after exiting the Global Climate Coalition.
BP predicts $1 bn revenue in its solar business in 2007
BP sets target to cut emissions from operations to 10% below 1990 levels by 2010
BP begins funding the Carbon Mitigation Initiative at Princeton University, exploring solutions to climate change
BP initiates the CO2 Capture Project with other companies and governments, studying methods of capturing and storing carbon dioxide at power plants
BP’s solar business moves into profit and announces plans to double production. On track to meet 1997 revenue prediction
BP launches carbon dioxide capture and storage project at gas field in Algeria
BP announces plans for world’s first commercial hydrogen power station.
BP launches Alternative Energy
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BP achieves its 2010 target 9 years early, having reduced GHG emissions by energy efficiency projects and cutting flaring of unwanted gas, creating $650M in value
Based on work at Princeton, BP sets out range of technology options to stabilize GHG emissions over 50 years, including increases in solar, wind, gas-fired power and carbon capture and storage
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BP announces plans to build wind farm at Nerefco, Netherlands
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BP’s response – so far
• alternative energy – new business, investing $8B over 10 years
• profitable PV business with $1B revenues by 2007• 450MW of wind by 2008• 2 hydrogen power stations under construction by 2008 (UK & US)• CCGT (already have 13 GW - 6GW net, plus fleet of 500 turbines)
– reducing emissions by 24Mtco2/year by 2015
• sustainable mobility– around 10% of global biofuels market– advanced biofuels have considerable potential, possibly 30% of
transport fuel– Global Choice in Australia offsetting 1MtCO2– lubricants can have a big impact, Castrol in India nearly 0.3
MtCO2/year
• increased gas production– one major gas pipeline offsets 120Mtco2, if it displaces coal
policy dimensions
need for ‘wedges’ to compete with fossil fuels,
when carbon externality is included,
by support of :
• market development
engagement of business and consumers
• technology development
R&D and demonstration projects in those areas identified as being potential ‘wedges’
• business development
incentives and support to establish new and competitive businesses
policy partnership for business growth
• Emissions Cap and Trade or Taxes schemes to drive efficiency into existing infrastructure,
• Transitional Incentives to encourage the commercial deployment of near to market technologies like renewables and carbon capture and storage,
• Investment Criteria to ensure that all new energy infrastructures are competitive against cost and emission benchmarks,
• Public Awareness to create acceptance of public policy and an increasing customer base for clean and secure energy,
• Regulation where there is clear market failure, for example energy efficiency in buildings,
• Tax and Trade Consistency to remove inconsistencies and barriers, for example to allow the creation of an open global market for biofuels.