Modelling the impacts of investors' decision making on decarbonisation pathways in industry

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Title: Modelling the impacts of investors' decision making on decarbonisation pathways in industry
Authors: Budinis, S
Giarola, S
Sachs, J
Hawkes, AD
Item Type: Conference Paper
Abstract: The Paris Climate agreement calls for dramatic changes in the energy system. This will be challenging for demand sectors like industry, which is notoriously energy intensive. Although increased efficiency has proven to be suitable options to reduce energy and environmental impacts, stringent regulations on carbon will require this sector to undergo an unprecedented innovation effort, which will go well beyond cost efficiency measures to include the deployment of novel technologies and, most likely, of carbon capture and storage (CCS). This manuscript focuses on the uptake of novel technologies in the industrial sector and the barriers which might prevent or slow down the pace of innovation. Some of these barriers are technological as they depend on the availability and the technology readiness level of a specific technology. Others are instead related to the attitude that investors show towards innovative and the inherent level of risk. Among the many innovation options in the industrial sector, the focus here is on the uptake of the carbon capture and storage technologies. The industrial sector is modelled including the top-energy intensive industries, such as those manufacturing pulp and paper, iron and steel, chemicals and petrochemicals, the non-ferrous metals as well as non-metallic minerals. The simulations are carried out using a novel energy systems model, MUSE, the Modular energy systems Simulation Environment.
Issue Date: 5-Dec-2017
Date of Acceptance: 31-Aug-2017
Publisher: IAMC
Copyright Statement: © 2017 The Author(s)
Sponsor/Funder: Shell Global Solutions International BV
Funder's Grant Number: PO 4550156770
Conference Name: 10th Annual Meeting of the IAMC
Publication Status: Published
Start Date: 2017-12-05
Finish Date: 2017-12-07
Conference Place: Recife, Brazil
Appears in Collections:Faculty of Engineering
Earth Science and Engineering
Chemical Engineering

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