Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2019.07.010 |
How can carbon capture utilization and storage be incentivized in China? A perspective based on the 45Q tax credit provisions | |
Fan, Jing-Li1,2; Xu, Mao1; Yang, Lin3; Zhang, Xian4; Li, Fengyu5,6,7 | |
2019-09-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2019 |
卷号 | 132页码:1229-1240 |
文章类型 | Article |
语种 | 英语 |
国家 | Peoples R China; Netherlands |
英文摘要 | Carbon capture utilization and storage (CCUS) technologies are crucial for achieving long-term climate change goals in China. Drawing on the 45Q tax credit provisions enacted by the U.S., three subsidy modes, two scenarios and two carbon emission reduction options are developed in this study, in which the real options approach combined with a trinomial tree model is employed to evaluate investment decisions made by coal-fired power plants (CFPP) in China. The results show that offering a 12-year CO2 storage subsidy to full-chain CCUS CFPP provides the motivation needed for CCUS investment during the 12-year subsidy period; however the economic benefits of such investment cannot be sustained over the 40-year lifetime. It's economically viable for CFPP to capture 90% CO2 emissions and sell them to oil enterprises for enhanced oil recovery (EOR) over a 40-year period. Besides, for full-chain CCUS CFPP the incentive effects of the 45Q subsidy mode and the full initial investment plus operation and maintenance (I + O&M) subsidy mode are much more suited to the 40-year emission reduction option, whereas the simple O&M subsidy mode is more suitable for the 12-year emission reduction option. However, for CO2-EOR projects, there is no significant difference between the three subsidy modes. |
英文关键词 | Subsidy policy CCUS retrofitting investment 45Q tax credit provisions Real options China |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000483425800115 |
WOS关键词 | INVESTMENT DECISION-MAKING ; CCS INVESTMENT ; REAL-OPTIONS ; POWER-GENERATION ; LOCK-IN ; CO2 ; MODEL ; UNCERTAINTY ; POLICY ; STRATEGIES |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/186478 |
专题 | 气候变化 |
作者单位 | 1.CUMTB, Sch Energy & Min Engn, Beijing 100083, Peoples R China; 2.China Univ Min & Technol, State Key Lab Coal Resources & Safe Min, Beijing 100083, Peoples R China; 3.China Univ Geosci, Sch Econ & Management, Beijing 100083, Peoples R China; 4.Minist Sci & Technol MOST, Adm Ctr Chinas Agenda 21 ACCA21, Beijing 100038, Peoples R China; 5.Cent Univ Finance & Econ, Sch Finance, Beijing 100081, Peoples R China; 6.Tilburg Univ, TIAS Sch Business & Soc, NL-5000 LE Tilburg, Netherlands; 7.Shandong Guohui Asset Management Co Ltd, Jinan 250014, Shandong, Peoples R China |
推荐引用方式 GB/T 7714 | Fan, Jing-Li,Xu, Mao,Yang, Lin,et al. How can carbon capture utilization and storage be incentivized in China? A perspective based on the 45Q tax credit provisions[J]. ENERGY POLICY,2019,132:1229-1240. |
APA | Fan, Jing-Li,Xu, Mao,Yang, Lin,Zhang, Xian,&Li, Fengyu.(2019).How can carbon capture utilization and storage be incentivized in China? A perspective based on the 45Q tax credit provisions.ENERGY POLICY,132,1229-1240. |
MLA | Fan, Jing-Li,et al."How can carbon capture utilization and storage be incentivized in China? A perspective based on the 45Q tax credit provisions".ENERGY POLICY 132(2019):1229-1240. |
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