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- ItemEarly retirement of power plants in climate mitigation scenarios(Bristol : IOP Publ., 2020) Fofrich, Robert; Tong, Dan; Calvin, Katherine; De Boer, Harmen Sytze; Emmerling, Johannes; Fricko, Oliver; Fujimori, Shinichiro; Luderer, Gunnar; Rogelj, Joeri; Davis, Steven J.International efforts to avoid dangerous climate change aim for large and rapid reductions of fossil fuel CO2 emissions worldwide, including nearly complete decarbonization of the electric power sector. However, achieving such rapid reductions may depend on early retirement of coal- and natural gas-fired power plants. Here, we analyze future fossil fuel electricity demand in 171 energy-emissions scenarios from Integrated Assessment Models (IAMs), evaluating the implicit retirements and/or reduced operation of generating infrastructure. Although IAMs calculate retirements endogenously, the structure and methods of each model differ; we use a standard approach to infer retirements in outputs from all six major IAMs and—unlike the IAMs themselves—we begin with the age distribution and region-specific operating capacities of the existing power fleet. We find that coal-fired power plants in scenarios consistent with international climate targets (i.e. keeping global warming well-below 2 °C or 1.5 °C) retire one to three decades earlier than historically has been the case. If plants are built to meet projected fossil electricity demand and instead allowed to operate at the level and over the lifetimes they have historically, the roughly 200 Gt CO2 of additional emissions this century would be incompatible with keeping global warming well-below 2 °C. Thus, ambitious climate mitigation scenarios entail drastic, and perhaps un-appreciated, changes in the operating and/or retirement schedules of power infrastructure.
- ItemEnergy system developments and investments in the decisive decade for the Paris Agreement goals(Bristol : IOP Publ., 2021-6-29) Bertram, Christoph; Riahi, Keywan; Hilaire, Jérôme; Bosetti, Valentina; Drouet, Laurent; Fricko, Oliver; Malik, Aman; Pupo Nogueira, Larissa; van der Zwaan, Bob; van Ruijven, Bas; van Vuuren, Detlef; Weitzel, Matthias; Dalla Longa, Francesco; de Boer, Harmen-Sytze; Emmerling, Johannes; Fosse, Florian; Fragkiadakis, Kostas; Harmsen, Mathijs; Keramidas, Kimon; Kishimoto, Paul Natsuo; Kriegler, Elmar; Krey, Volker; Paroussos, Leonidas; Saygin, Deger; Vrontisi, Zoi; Luderer, GunnarThe Paris Agreement does not only stipulate to limit the global average temperature increase to well below 2 °C, it also calls for 'making finance flows consistent with a pathway towards low greenhouse gas emissions'. Consequently, there is an urgent need to understand the implications of climate targets for energy systems and quantify the associated investment requirements in the coming decade. A meaningful analysis must however consider the near-term mitigation requirements to avoid the overshoot of a temperature goal. It must also include the recently observed fast technological progress in key mitigation options. Here, we use a new and unique scenario ensemble that limit peak warming by construction and that stems from seven up-to-date integrated assessment models. This allows us to study the near-term implications of different limits to peak temperature increase under a consistent and up-to-date set of assumptions. We find that ambitious immediate action allows for limiting median warming outcomes to well below 2 °C in all models. By contrast, current nationally determined contributions for 2030 would add around 0.2 °C of peak warming, leading to an unavoidable transgression of 1.5 °C in all models, and 2 °C in some. In contrast to the incremental changes as foreseen by current plans, ambitious peak warming targets require decisive emission cuts until 2030, with the most substantial contribution to decarbonization coming from the power sector. Therefore, investments into low-carbon power generation need to increase beyond current levels to meet the Paris goals, especially for solar and wind technologies and related system enhancements for electricity transmission, distribution and storage. Estimates on absolute investment levels, up-scaling of other low-carbon power generation technologies and investment shares in less ambitious scenarios vary considerably across models. In scenarios limiting peak warming to below 2 °C, while coal is phased out quickly, oil and gas are still being used significantly until 2030, albeit at lower than current levels. This requires continued investments into existing oil and gas infrastructure, but investments into new fields in such scenarios might not be needed. The results show that credible and effective policy action is essential for ensuring efficient allocation of investments aligned with medium-term climate targets.