IDEAS home Printed from https://ideas.repec.org/p/fem/femwpa/2014.44.html
   My bibliography  Save this paper

From Expert Elicitations to Integrated Assessment: Future Prospects of Carbon Capture Technologies

Author

Listed:
  • Elena Claire Ricci

    (Fondazione Eni Enrico Mattei (FEEM), Centro Euro-Mediterraneo per i Cambiamenti Climatici (CMCC) and Università degli Studi di Milano, Italy)

  • Valentina Bosetti

    (Fondazione Eni Enrico Mattei (FEEM) and IEFE, Bocconi University, Italy)

  • Erin Baker

    (University of Massachusetts at Amherst, USA)

Abstract

This paper analyzes the future prospects of carbon capture technologies. The first part of the analysis presents and discusses the results of an expert elicitation survey on a broad range of carbon capture options. The survey collected probabilistic estimates on the future values of energy penalty under three different scenarios of R&D investments and climate policies from twelve leading European experts from both academia and industry. In the second part of the analysis, the elicitation results are used as input to an integrated assessment model. This allows us to evaluate the potentials of success of this technology within a broad mitigation portfolio of options and under different policy assumptions, in an intertemporal optimizing setting. Both parts of the work provide results that are of interest to policy-makers, integrated-assessment and energy modelers.

Suggested Citation

  • Elena Claire Ricci & Valentina Bosetti & Erin Baker, 2014. "From Expert Elicitations to Integrated Assessment: Future Prospects of Carbon Capture Technologies," Working Papers 2014.44, Fondazione Eni Enrico Mattei.
  • Handle: RePEc:fem:femwpa:2014.44
    as

    Download full text from publisher

    File URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2014-044.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Baker, Erin & Chon, Haewon & Keisler, Jeffrey, 2009. "Advanced solar R&D: Combining economic analysis with expert elicitations to inform climate policy," Energy Economics, Elsevier, vol. 31(Supplemen), pages 37-49.
    2. Valentina Bosetti & Carlo Carraro & Marzio Galeotti & Emanuele Massetti & Massimo Tavoni, 2006. "WITCH. A World Induced Technical Change Hybrid Model," Working Papers 2006_46, Department of Economics, University of Venice "Ca' Foscari".
    3. Bosetti, Valentina & Catenacci, Michela & Fiorese, Giulia & Verdolini, Elena, 2012. "The future prospect of PV and CSP solar technologies: An expert elicitation survey," Energy Policy, Elsevier, vol. 49(C), pages 308-317.
    4. Gregory F. Nemet & Erin Baker, 2009. "Demand Subsidies Versus R&D: Comparing the Uncertain Impacts of Policy on a Pre-commercial Low-carbon Energy Technology," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 49-80.
    5. Valentina Bosetti & Carlo Carraro & Marzio Galeotti & Emanuele Massetti & Massimo Tavoni, 2006. "A World Induced Technical Change Hybrid Model," The Energy Journal, , vol. 27(2_suppl), pages 13-37, June.
    6. Valentina Bosetti & Emanuele Massetti & Massimo Tavoni, 2007. "The WITCH Model. Structure, Baseline, Solutions," Working Papers 2007.10, Fondazione Eni Enrico Mattei.
    7. Gunnar Luderer & Valentina Bosetti & Michael Jakob & Marian Leimbach & Jan Steckel & Henri Waisman & Ottmar Edenhofer, 2012. "The economics of decarbonizing the energy system—results and insights from the RECIPE model intercomparison," Climatic Change, Springer, vol. 114(1), pages 9-37, September.
    8. Rao, Anand B. & Rubin, Edward S. & Keith, David W. & Granger Morgan, M., 2006. "Evaluation of potential cost reductions from improved amine-based CO2 capture systems," Energy Policy, Elsevier, vol. 34(18), pages 3765-3772, December.
    9. Lindhjem, Henrik & Navrud, Ståle, 2011. "Are Internet surveys an alternative to face-to-face interviews in contingent valuation?," Ecological Economics, Elsevier, vol. 70(9), pages 1628-1637, July.
    10. Holloway, S., 2005. "Underground sequestration of carbon dioxide—a viable greenhouse gas mitigation option," Energy, Elsevier, vol. 30(11), pages 2318-2333.
    11. Gale, John, 2004. "Geological storage of CO2: What do we know, where are the gaps and what more needs to be done?," Energy, Elsevier, vol. 29(9), pages 1329-1338.
    12. Chung, Timothy S. & Patiño-Echeverri, Dalia & Johnson, Timothy L., 2011. "Expert assessments of retrofitting coal-fired power plants with carbon dioxide capture technologies," Energy Policy, Elsevier, vol. 39(9), pages 5609-5620, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Elena Verdolini & Laura Díaz Anadón & Erin Baker & Valentina Bosetti & Lara Aleluia Reis, 2018. "Future Prospects for Energy Technologies: Insights from Expert Elicitations," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 12(1), pages 133-153.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Erin Baker & Olaitan Olaleye & Lara Aleluia Reis, 2015. "Decision Frameworks and the Investment in R&D," Working Papers 2015.42, Fondazione Eni Enrico Mattei.
    2. Nemet, Gregory F. & Baker, Erin & Jenni, Karen E., 2013. "Modeling the future costs of carbon capture using experts' elicited probabilities under policy scenarios," Energy, Elsevier, vol. 56(C), pages 218-228.
    3. Laura Diaz Anadon & Erin Baker & Valentina Bosetti & Lara Aleluia Reis, 2016. "Expert views - and disagreements - about the potential of energy technology R&D," Climatic Change, Springer, vol. 136(3), pages 677-691, June.
    4. Fiorese, Giulia & Catenacci, Michela & Bosetti, Valentina & Verdolini, Elena, 2014. "The power of biomass: Experts disclose the potential for success of bioenergy technologies," Energy Policy, Elsevier, vol. 65(C), pages 94-114.
    5. Laura Diaz Anadon & Erin Baker & Valentina Bosetti & Lara Aleluia Reis, 2016. "Too Early to Pick Winners: Disagreement across Experts Implies the Need to Diversify R&D Investment," Working Papers 2016.22, Fondazione Eni Enrico Mattei.
    6. Stergios Athanassoglou & Valentina Bosetti, 2015. "Setting Environmental Policy When Experts Disagree," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(4), pages 497-516, August.
    7. Favero, Alice & Massetti, Emanuele, 2014. "Trade of woody biomass for electricity generation under climate mitigation policy," Resource and Energy Economics, Elsevier, vol. 36(1), pages 166-190.
    8. Massetti, Emanuele & Ricci, Elena Claire, 2013. "An assessment of the optimal timing and size of investments in concentrated solar power," Energy Economics, Elsevier, vol. 38(C), pages 186-203.
    9. Baker, Erin & Bosetti, Valentina & Anadon, Laura Diaz & Henrion, Max & Aleluia Reis, Lara, 2015. "Future costs of key low-carbon energy technologies: Harmonization and aggregation of energy technology expert elicitation data," Energy Policy, Elsevier, vol. 80(C), pages 219-232.
    10. Gregory Nemet & Erin Baker & Bob Barron & Samuel Harms, 2015. "Characterizing the effects of policy instruments on the future costs of carbon capture for coal power plants," Climatic Change, Springer, vol. 133(2), pages 155-168, November.
    11. Bosetti, Valentina & Carraro, Carlo & Duval, Romain & Tavoni, Massimo, 2011. "What should we expect from innovation? A model-based assessment of the environmental and mitigation cost implications of climate-related R&D," Energy Economics, Elsevier, vol. 33(6), pages 1313-1320.
    12. Emanuele Massetti & Lea Nicita, 2010. "The Optimal Climate Policy Portfolio when Knowledge Spills across Sectors," CESifo Working Paper Series 2988, CESifo.
    13. Mort Webster & Karen Fisher-Vanden & David Popp & Nidhi Santen, 2017. "Should We Give Up after Solyndra? Optimal Technology R&D Portfolios under Uncertainty," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 4(S1), pages 123-151.
    14. Milan Ščasný & Emanuele Massetti & Jan Melichar & Samuel Carrara, 2015. "Quantifying the Ancillary Benefits of the Representative Concentration Pathways on Air Quality in Europe," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 62(2), pages 383-415, October.
    15. Bosetti, Valentina & Carraro, Carlo & Massetti, Emanuele & Tavoni, Massimo, 2008. "International energy R&D spillovers and the economics of greenhouse gas atmospheric stabilization," Energy Economics, Elsevier, vol. 30(6), pages 2912-2929, November.
    16. Alice Favero & Robert Mendelsohn, 2013. "Evaluating the Global Role of Woody Biomass as a Mitigation Strategy," Working Papers 2013.37, Fondazione Eni Enrico Mattei.
    17. Bosello, Francesco & Carraro, Carlo & De Cian, Enrica, 2013. "Adaptation can help mitigation: an integrated approach to post-2012 climate policy," Environment and Development Economics, Cambridge University Press, vol. 18(3), pages 270-290, June.
    18. Bosetti, Valentina & Carraro, Carlo & De Cian, Enrica & Massetti, Emanuele & Tavoni, Massimo, 2013. "Incentives and stability of international climate coalitions: An integrated assessment," Energy Policy, Elsevier, vol. 55(C), pages 44-56.
    19. Bosetti, Valentina & Longden, Thomas, 2013. "Light duty vehicle transportation and global climate policy: The importance of electric drive vehicles," Energy Policy, Elsevier, vol. 58(C), pages 209-219.
    20. Favero, Alice & Mendelsohn, Robert & Sohngen, Brent, 2016. "Carbon Storage and Bioenergy: Using Forests for Climate Mitigation," MITP: Mitigation, Innovation and Transformation Pathways 232215, Fondazione Eni Enrico Mattei (FEEM).

    More about this item

    Keywords

    Carbon Capture; Expert Elicitation; Integrated Assessment Modeling;
    All these keywords.

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fem:femwpa:2014.44. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alberto Prina Cerai (email available below). General contact details of provider: https://edirc.repec.org/data/feemmit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.