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Energy Systems and Technologies for the Coming Century ...

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80%70%60%China's share ofglobal CO 2 emissions40%35%30%China's share of global CO 2emission reductions50%25%40%20%30%20%10%0%1a Ref1b Mit Default1c Mit No CCS2b Mit Pessimistic3b Mit Optimistic15%10%5%0%1b Mit Default1c Mit No CCS2b Mit Pessimistic3b Mit Optimistic2005200720122020203020402050206020702080209021002012202020302040205020602070208020902100Figure 1 China’s share of global CO 2 emissions <strong>and</strong> reductionsBecause <strong>the</strong> policy scenario is ra<strong>the</strong>r stringent, it drives up <strong>the</strong> price of CO 2 emissions,<strong>and</strong> increasingly more expensive mitigation options are utilized. Figure 1 plots <strong>the</strong> CO 2prices over time in <strong>the</strong> various policy cases. As can be seen, excluding CCS from <strong>the</strong>technology portfolio increases <strong>the</strong> price of CO 2 by a factor of 6 to meet <strong>the</strong> stabilizationtarget.USD/tCO 27000600050001b Mit Default1c Mit No CCS2b Mit Pessimistic3b Mit Optimistic400030002000100002012202020302040205020602070208020902100Figure 2 Global CO 2 priceA fur<strong>the</strong>r indication of <strong>the</strong> relative difficulty of staying on <strong>the</strong> stabilization pathway isgiven by changes in total discounted costs of <strong>the</strong> energy system in <strong>the</strong> differentmitigation scenarios. In all scenarios, China’s share of <strong>the</strong> total discounted costs of <strong>the</strong>global energy system is approximately 13%, while its share of <strong>the</strong> mitigation costs variesbetween approximately 13% <strong>and</strong> 17%, with <strong>the</strong> highest share taking place in scenario 2b(Mitigation Pessimistic), where biomass is more limited <strong>and</strong> plays a smaller role inmitigation.Table 2 shows <strong>the</strong> relative cost increase of different mitigation scenarios, i.e., increasesin total discounted costs. In scenario 1b (Mitigation Default) <strong>and</strong> 3b (MitigationOptimistic), China’s total discounted costs rise at approximately <strong>the</strong> same rate as <strong>the</strong>total global costs. With a low biomass potential (2b), or exclusion of CCS (1c), however,China’s costs increase relatively more than <strong>the</strong> global cost. When CCS is excluded as amitigation option (1b versus 1c), China’s mitigation costs rise approximately 171%. Incomparison, <strong>the</strong> corresponding global mitigation costs increase only 118%.5Risø International <strong>Energy</strong> Conference 2011 Proceedings Page 262

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