Search NASA⌕ Search

SEARCH · Search NASA

Results for “carbon pricing”

Search indexed NASA NTRS and DOE OSTI research on propulsion, heat transfer, battery materials and energy systems. Follow report and document links to the original sources.

Quote a phrase for an exact phrase match. Source license links do not imply unrestricted reuse.

At least 19 records
All sourcesNASA NTRSDOE OSTI
DOE OSTI2021

The effect of price-based demand response on carbon emissions in European electricity markets: The importance of adequate carbon prices

Price-based demand response (PBDR) has recently been attributed great economic but also environmental potential. However, the determination of its short-term effects on carbon emissions requires the knowledge of marginal emission factors (MEFs), which compared to grid mix emission factors (XEFs), are cumbersome to calculate due to the complex characteristics of national electricity markets. This study, therefore, proposes two merit order-based methods to approximate hourly MEFs and applies them to readily available datasets from 20 European countries for the years 2017–2019. Based on the calculated electricity prices, standardized daily load shifts were simulated which indicated that carbon emissions increased for 8 of the 20 countries and by 2.1% on average. Thus, under specific circumstances, PBDR leads to carbon emissions increases, mainly due to the economic advantage fuel sources such as lignite and coal have in the merit order. MEF-based load shifts reduced the mean resulting carbon emissions by 35%, albeit with 56% lower monetary cost savings compared to price-based load shifts. Finally, by repeating the load shift simulations for different carbon price levels, the impact of the carbon price on the resulting carbon emissions was analyzed. The Spearman correlation coefficient between carbon intensity and marginal cost along the German merit order substantially increased with increasing carbon price. The coefficients were -0.13 for the 2019 carbon price of 24.9 €/t, 0 for 42.6 €/t, and 0.4 for 100.0 €/t. Therefore, with adequate carbon prices, PBDR can be an effective tool for both economical and environmental improvement.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2023

Contribution of carbon pricing to meeting a mid-century net zero target

A mid-century net zero target creates a challenge for reducing the emissions of emissions-intensive, trade-exposed sectors with high cost mitigation options. These sectors include aluminium, cement, chemicals, iron and steel, lime, pulp and paper and petroleum refining. Available studies agree that decarbonization of these sectors is possible by mid-century if more ambitious policies are implemented soon. Existing carbon pricing policies have had limited impact on the emissions of these sectors because their marginal abatement costs almost always exceed the tax rate or allowance price. But emissions trading systems with free allowance allocations to emissions-intensive, trade-exposed sectors have minimized the adverse economic impacts and associated leakage. Internationally coordinated policies are unlikely, so implementing more ambitious policies creates a risk of leakage. This paper presents policy packages a country can implement to accelerate emission reduction by these sectors with minimal risk of leakage. To comply with international trade law the policy packages differ for producers whose goods compete with imports in the domestic market and producers whose goods are exported. Carbon pricing is a critical component of each package due its ability to minimize the risk of adverse economic impacts on domestic industry, support innovation and generate revenue. The revenue can be used to assist groups adversely impacted by the domestic price and production changes due to carbon pricing and to build public support for the policies.

54 ENVIRONMENTAL SCIENCES↗
DOE OSTI2020

Co-benefits of subnationally differentiated carbon pricing policies in China: Alleviation of heavy PM 2.5 pollution and improvement in environmental equity

Carbon policies differentiated according to regional disparities have been recognized and recommended. However, the air quality co-benefits of differentiated policies remain unclear. Here we combine a multi-regional dynamic computable general equilibrium (CGE) model and an extend response surface model (ERSM) to investigate the impact of nationally uniform and subnationally differentiated carbon pricing policies on fine particulate matter (PM 2.5 ) concentrations in China. All policies examined lead to the same accumulated national CO 2 emissions (2020–2050), with the 2030 emissions attaining China's national abatement target. We find that, when subnational policies differentiated according to provincial PM 2.5 concentrations are implemented, the higher-than-average carbon price over more polluted provinces results in twice as much reduction in CO 2 and air pollutant emissions in 2050 as the national policy. As a result, the subnational policies cause larger PM 2.5 concentration reductions in these provinces (9%–18%) than the national policy (7%–11%). Also, the subnational policies eliminate high PM 2.5 exposure of over 45 μg/m 3 which 12% people suffer from under the national policy. Overall, the subnational policies substantially reduce regional disparity in PM 2.5 pollution and hence improve environmental equity. The results suggest that subnationally differentiated carbon policies are a promising instrument to mitigate severe pollution and promote environmental equity.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2020

A near-term to net zero alternative to the social cost of carbon for setting carbon prices

The social cost of carbon (SCC) is commonly described and used as the optimal CO 2 price. However, the wide range of SCC estimates provides limited practical assistance to policymakers setting specific CO 2 prices. In this study we describe an alternate near-term to net zero (NT2NZ) approach, estimating CO 2 prices needed in the near term for consistency with a net-zero CO 2 emissions target. This approach dovetails with the emissions-target-focused approach that frames climate policy discussions around the world, avoids uncertainties in estimates of climate damages and long-term decarbonization costs, offers transparency about sensitivities and enables the consideration of CO 2 prices alongside a portfolio of policies. We estimate illustrative NT2NZ CO 2 prices for the United States; for a 2050 net-zero CO 2 emission target, prices are US $ \$34$ to US $ \$64$ per metric ton in 2025 and US $ \$77$ to US $ \$124$ in 2030. These results are most influenced by assumptions about complementary policies and oil prices.

54 ENVIRONMENTAL SCIENCES↗
DOE OSTI2022

The economic impacts of carbon emission trading scheme on building retrofits: A case study with U.S. medium office buildings

As a popular emission reduction tool, the carbon emission trading scheme (ETS) can potentially add an economic incentive for building owners to retrofit buildings in addition to the cost savings in energy. However, the additional economic benefits of building retrofits brought by ETS has not been quantitively investigated yet. Here, in order to fill this gap, this study proposed a systematic economic evaluation method to investigate the economic impacts of ETS on building retrofits. The reduction of the payback period and the increase of the return on investment are adopted as evaluation metrics. Using medium office buildings as an example, this study predicted the economic impacts of ETS on building retrofits at four locations in the U.S., and three different carbon prices were investigated. The results show that carbon prices have significant economic impacts on building retrofits. With the relatively low forecasted time-variant carbon prices (around 10 USD per ton), the economic impacts of ETS on building retrofits are small. When carbon prices increase, the impacts of ETS would be up to 25% for 50 USD per ton (current prices in European Union) and 51% for 100 USD per ton. Furthermore, locations with more fossil energy have higher relative changes in the payback period and ROI but are more sensitive to carbon prices.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2022

Decarbonization Scenarios in the United States: Comparing Biofuels Growth in Two Models - GCAM and BSM

Scenarios for deep decarbonization rely on biomass for biofuels, biopower, and bioproducts, often including negative emissions via carbon capture and storage or utilization. Despite the prominence of biomass in many deep decarbonization pathways, critical questions remain about biomass allocation, effects of transportation electrification, the pace of growth, and implications for agriculture and land use. We address these questions through a unique comparison of carbon pricing effects on the growth of biomass utilization and its effects on land use in the United States by comparing results from a multisectoral integrated assessment model, the Global Change Analysis Model [GCAM], with results from a biomass-to-biofuels system dynamics model, the Biomass Scenario Model [BSM]. We contribute to model comparison efforts by analyzing the biomass deployment needed for a scenario consistent with a "Middle of the Road" Shared Socioeconomic Pathway [SSP2] and a representative concentration pathway of 2.6 W/m2. The GCAM scenarios solve for global equilibrium conditions that are consistent with this pathway, including demands for biomass across all economic sectors and representing bioenergy with carbon capture and storage as a technology option. The BSM scenarios assess those biomass and biofuel results for the United States and identify challenges associated with that pace and amount of expansion. In the scenario analysis, we harmonize key factors such as carbon price trajectory, domestic ethanol fuel demand, ethanol blending, and arable land availability, and vary them in both models. In GCAM, we vary the carbon price, transportation electrification, ethanol blending constraints, and arable land availability inputs and the value of the carbon in land; in BSM, in addition to directly inputting certain GCAM results, we vary the maximum rate of biorefinery construction, flexibility of feedstock types across conversion processes, and policy incentives such as tax credits and renewable identification number payments. The selected carbon price trajectory results in a rapid increase in biofuel production in the United States, reaching about 9.4 EJ/year in 2060 in the highest scenario analyzed in GCAM. Results differ between the two models in timing and ultimate quantity of biomass and biofuel production. GCAM biofuel quantities generally exceed BSM amounts because CCS is applied to biofuel pathways in GCAM, and because of differences in capacity expansion and related dynamics of land allocation, biomass production, and price dynamics. These dynamics include rapid biorefinery capacity expansion in high demand cases. To satisfy this biomass demand, GCAM rapidly equilibrates land allocation, but the BSM limits the rate at which this re-allocation can occur. A further contrast with the equilibrium approach in GCAM is that the BSM represents a delay between planting and harvesting woody biomass resources. As a result of these model contrasts, feedstock costs in BSM increase more than in GCAM, and the absence of CCS in the BSM also reduces the relative economic attractiveness of biofuels production. The bottlenecks, lags, and price increases also lead to potential for volatility in feedstock price and land allocation to biomass in the BSM. GCAM has more biomass production than BSM in all scenarios, partly because of the broader, economy-wide coverage of GCAM, in contrast to BSM's exclusive focus on biofuels. In both models, trends like those of biofuels production were observed for biomass production: minimal growth without a carbon price and policy incentives, and increases with a carbon price, particularly with carbon capture and storage, because the inputs assume that biopower and biofuels decrease greenhouse gas emissions. In high policy scenarios, biomass demand is high, and the consequent high biomass prices due to the land re-allocation bottleneck in the BSM limit biofuel production even if the biorefinery capacity is expanded. However, because biomass prices do not increase as much in the low policy scenario, growth is slower and the land-reallocation bottleneck no longer dominates, such that the effect of increased capacity can be seen. Across both the models, a change in assumptions from less to more land availability increases biofuel production in both GCAM and BSM, as the upward pressure on feedstock price and volatility are both reduced.

biofuels↗
DOE OSTI2024

A Pathway Analysis Framework for Evaluating the Economic and Environmental Viability of Biomass-Based Plastic Production

Plastic production from fossil feedstocks (e.g., naphtha, coal, and natural gas) is not sustainable and causes known environmental impacts such as global warming. A possible solution is to shift production pathways to use biomass, which is a sustainable feedstock that can sequester atmospheric carbon dioxide. This study presents an optimization-based pathway analysis framework for evaluating the carbon footprints of the production of mainstream plastics from biomass and fossil feedstocks. We use the modeling framework to quickly navigate complex interdependencies that exist between the production pathways of different plastics and to determine pathways of minimum production cost under a range of carbon pricing scenarios. The framework interprets carbon prices as an exogenous taxation scheme or an endogenous negative value perceived by producers. The proposed approach reveals the biomass feedstock quantities needed to displace fossil counterparts and the plastics and technologies that should be prioritized. The framework can also be used for evaluating system-wide trade-offs between production costs and carbon footprints that arise from pathway interdependencies. We also evaluate hidden environmental impacts associated with the large-scale use of biomass as a feedstock, such as land use and water eutrophication that results from a significant increase in fertilizer use. Therefore, it is important to highlight that there are trade-offs between decarbonization and other environmental issues. Here, the proposed framework provides an integrative platform for basic techno-economic and life-cycle data that can be used for analyzing diverse scenarios and determining necessary technology targets (e.g., yields, footprints, and costs) to achieve required levels of decarbonization.

37 INORGANIC, ORGANIC, PHYSICAL, AND ANALYTICAL CH↗
DOE OSTI2025

Policy implications of net-zero emissions: A multi-model analysis of United States emissions and energy system impacts

Many countries, subnational jurisdictions, and companies are setting net-zero emissions goals; however, questions remain about strategies to reach these targets, policy measures, technology gaps, and economic impacts. Here, we investigate the potential policy implications of reaching economy-wide net-zero CO 2 emissions across the United States by 2050 using results from a multi-model comparison with 14 energy-economic models. Model results suggest that achieving net-zero CO 2 targets depends on policies that accelerate deployment of zero- and low-emitting technologies that have seen rapid cost reductions in recent years (including wind, solar, battery storage, and electric vehicles) as well as relatively nascent options (including carbon capture and storage, advanced biofuels, low-carbon hydrogen, advanced nuclear, and long-duration energy storage). While net-zero policies are likely to lower fossil fuel consumption, including considerable coal and petroleum reductions, achieving net-zero emissions does not necessarily mean phasing out all fossil fuels. Model results indicate that the Inflation Reduction Act’s energy and climate provisions amplify near-term decarbonization but that net-zero policies have larger impacts on long-run outcomes. Stringent climate policy can have large fiscal impacts on tax revenue and government spending—revenues from carbon pricing and subsidies for carbon removal range from 0.1 % to 3.7 % of GDP in 2050 across models. Each dollar per metric ton carbon price leads to a 0.06 % to 0.31 % reduction in economy-wide CO 2 emissions relative to a reference scenario with current policies. Spending on energy across the economy decreases relative to today for many models under reference and net-zero policies, especially as a share of GDP, due primarily to end-use electrification and energy efficiency.

54 ENVIRONMENTAL SCIENCES↗
DOE OSTI2024

Biochar as a carbon dioxide removal strategy in integrated long-run mitigation scenarios

Abstract Limiting global warming to under 2 °C would require stringent mitigation and likely additional carbon dioxide removal (CDR) to compensate for otherwise unabated emissions. Because of its technology readiness, relatively low cost, and potential co-benefits, the application of biochar to soils could be an effective CDR strategy. We use the Global Change Analysis Model, a global multisector model, to analyze biochar deployment in the context of energy system uses of biomass with CDR under different carbon price trajectories. We find that biochar can create an annual sink of up to 2.8 GtCO 2 per year, reducing global mean temperature increases by an additional 0.5%–1.8% across scenarios by 2100 for a given carbon price path. In our scenarios, biochar’s deployment is dependent on potential crop yield gains and application rates, and the competition for resources with other CDR measures. We find that biochar can serve as a competitive CDR strategy, especially at lower carbon prices when bioenergy with carbon capture and storage is not yet economical.

54 ENVIRONMENTAL SCIENCES↗
DOE OSTI2023

Deep decarbonization and U.S. biofuels production: a coordinated analysis with a detailed structural model and an integrated multisectoral model

Scenarios for deep decarbonization involve biomass for biofuels, biopower, and bioproducts, and they often include negative emissions via carbon capture and storage or utilization. However, critical questions remain about the feasibility of rapid growth to high levels of biomass utilization, given biomass and land availability as well as historical growth rates of the biofuel industry. We address these questions through a unique coordinated analysis and comparison of carbon pricing effects on biomass utilization growth in the United States using a multisectoral integrated assessment model, the Global Change Analysis Model (GCAM), and a biomass-to-biofuels system dynamics model, the Bioenergy Scenario Model (BSM). We harmonized and varied key factors—such as carbon prices, vehicle electrification, and arable land availability—in the two models. We varied the rate of biorefinery construction, the fungibility of feedstock types across conversion processes, and policy incentives in BSM. The rate of growth in biomass deployment under a carbon price in both models is within the range of current literature. However, the reallocation of land to biomass feedstocks would need to overcome bottlenecks to achieve growth consistent with deep decarbonization scenarios. Investments as a result of near-term policy incentives can develop technology and expand capacity—reducing costs, enabling flexibility in feedstock use, and improving stability—but if biomass demand is high, these investments might not overcome land reallocation bottlenecks. Biomass utilization for deep decarbonization relies on extraordinary growth in biomass availability and industrial capacity. In this paper, we quantify and describe the potential challenges of this rapid change.

09 BIOMASS FUELS↗
DOE OSTI2025

Spatially explicit terrestrial carbon densities for calibrating the carbon cycle in human-Earth system Models

Soil and vegetation carbon stocks play a critical role in human-Earth system models. These stocks (denominated as densities in MgC/ha) affect variables such as land use change emissions and also influence land use change pathways under climate forcing scenarios where terrestrial carbon is assigned a carbon price. Here we present reharmonized soil and vegetation carbon densities both at the 5-arcmin resolution grid cell level and also aggregated to 235 water sheds for 4 land use types (Cropland, Grazed land, Urban land and unmanaged vegetation) and 15 unmanaged land cover types. Moreover, we use the distribution of carbon within and across pixels to define statistical "states" of carbon, once again differentiated by land type. These statistical states are used to define a range of possible carbon values that can be used for defining initial conditions of soil and vegetation carbon in human-Earth system models. We implement these data in a state-of-the-art multi sector dynamics model, namely the Global Change Analysis Model (GCAM), and show that these new data improve several land use responses, especially when terrestrial carbon is assigned a carbon price.

54 ENVIRONMENTAL SCIENCES↗
DOE OSTI2023

The interaction of wholesale electricity market structures under futures with decarbonization policy goals: A complexity conundrum

Competitive wholesale electricity markets can help facilitate energy system decarbonization by incentivizing investments in clean energy technologies that meet evolving system needs. We explore market structure impacts on generator operations and deployment by risk-averse, heterogeneous investor firms using the Electricity Markets and Investment Suite - Agent-based Simulation (EMIS-AS) model. Here we apply clean energy targets of 45%-100% by 2035 considering energy, ancillary services, capacity, and clean energy credit products and pricing and eligibility rules. Results highlight a complexity conundrum, whereby finding the "right" market design to achieve decarbonization goals and avoid unintended consequences can be a highly-nuanced, non-incremental challenge. Carefully designed energy-only markets can achieve the same clean energy targets as capacity market structures but with different revenue and profitability outcomes. Operating reserve demand curve-based scarcity pricing can substitute capacity markets for similar deployment outcomes. Carbon pricing alone is most effective at achieving decarbonization levels at low clean energy targets, and clean energy credit markets and carbon pricing are substitutionary at high clean energy targets. Restricting technology participation in capacity and operating reserve markets can impact deployment and operations, even for nonrestricted technologies. Adding an inertia product with fast frequency response yields insufficient provision at high clean energy targets, but work is needed to understand frequency requirements and capabilities.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2024

Carbon management technology pathways for reaching a U.S. Economy-Wide net-Zero emissions goal

The Carbon Management Study Group of the 37 th Energy Modeling Forum (EMF 37) designed seven scenarios to explore the role of three potentially key technology suites – point source carbon dioxide capture and storage (PSCCS), direct air capture of carbon dioxide (DACCS), and hydrogen systems (H 2 ) – in shaping the broader technology pathways to reaching net-zero carbon dioxide (CO 2 ) emissions in United States by 2050. Each scenario was run by up to 13 models participating in the EMF 37 study. Results show that carbon dioxide removal technologies were consistently a major part of successful pathways to net-zero U.S. CO 2 emissions in 2050. Achieving this net-zero CO 2 goal without any form of carbon dioxide capture and storage was found to be impossible for most models; some models also found it impossible to reach net-zero without DACCS. The marginal cost of achieving net-zero CO 2 emissions in 2050 was between two and 10 times higher without PSCCS and/or DACCS available. The carbon price at which DACCS was deployed as a backstop technology depended upon the assumed cost at which DACCS was available at scale. Carbon prices were between $\$$250 and $\$$500 per ton CO 2 when DACCS deployed as a backstop. The average CO 2 capture rate across all models in 2050 in the central net-zero scenario was 1.3 GtCO 2 /year, which implies a substantial upscaling of capacity to move and store CO 2 . Finally, hydrogen sensitivity scenarios showed that H 2 typically constituted a relatively small share of the overall U.S. energy system; however, H 2 deployed in applications that are considered hard to decarbonize, facilitating transition towards net-zero emissions.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2022

Which “second-best” climate policies are best? Simulating cost-effective policy mixes for passenger vehicles

In the real-world of political opposition and complex market failures, carbon pricing alone will not achieve deep GHG mitigation targets. Hence, in this study, we search for the most cost-effective “second-best” policies. Focusing on the light-duty vehicle sector in the case of Canada, we compare several policies in terms of effectiveness (regarding 2030 GHG goals) and mitigation costs, namely: (i) a carbon tax; (ii) a vehicle emission standard (or VES); (iii) a zero emissions vehicle (ZEV) mandate, and (iv) combinations of all three at various stringencies. In this effort, we apply the AUtomaker-consumer Model (AUM), which endogenously simulates consumer and automaker decisions and technological change. Comparing individual policies, the regulations are about three times more expensive than the carbon tax. Among “second-best” policies, the VES is cheaper than a ZEV mandate at lower stringencies, but at higher stringencies the two are similarly efficient (both incentivize widespread ZEV deployment). In policy mixes, cost-effectiveness is improved by a carbon tax. Specifically, inclusion of a CDN$100–150/tonne tax can achieve targets while being 30–40% less costly than a regulation alone. We suggest that policymakers implement carbon pricing as stringently as politically feasible (for efficiency), complemented by regulations as needed (for efficacy) to meet GHG targets.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2021

Geothermal District Heating in the United States: 2021 Update

As of 2021, there are 23 geothermal district heating (GDH) systems in the United States. Most are over 30 years old. This paper presents an overview of GDH development in the United States and the performance of GDH systems over time. Calculations of the estimated levelized cost of heat (LCOH) for existing U.S. GDH systems were made using NREL's GEOPHIRES tool. Estimated LCOH for existing U.S. GDH systems ranges from $15 to $105/MWhth. This paper explores other factors in GDH development such as resource and system size, capacity factor, and the role of policy. U.S. GDH utilization and deployment are compared to worldwide trends. Results show that the market for GDH in the United States has been weak over the past 40 years due to the combination of inexpensive fossil fuel alternatives (mostly natural gas), lack of incentives focused on heating/cooling, and other factors. Future opportunities for increased GDH deployment in the United States related to increased demand for low-carbon heating and cooling solutions (driven by decarbonization goals in the residential, commercial and industrial heating/cooling sectors, and particularly aggressive ones on college campuses) are outlined. Lastly, this paper identifies policy mechanisms that have been implemented in other countries to incentivize GDH (such as financial incentives targeting GDH, geothermal risk reduction mechanisms, carbon prices benefiting low-carbon heat production, and others).

geothermal district heating↗
DOE OSTI2021

Geospatial assessment of the economic opportunity for reforestation in Maryland, USA

Afforestation and reforestation have the potential to provide effective climate mitigation through forest carbon sequestration. Strategic reforestation activities, which account for both carbon sequestration potential (CSP) and economic opportunity, can provide attractive options for policymakers who must manage competing social and environmental goals. In particular, forest carbon pricing can incentivize reforestation on private land, but this may require landholders to forego other profits. Here, we utilize an ambitious geospatial approach to quantify economic opportunities for reforestation in the state of Maryland (USA) based on high-resolution remoting sensing, ecosystem modeling, and economic analysis. Our results identify spatially-explicit areas of economic opportunity where the potential revenue from forest carbon outcompetes the expected profit of existing cropland at the hectare scale. Specifically, we find that under a baseline economic scenario of 20 dollars per ton of carbon (5% rental rate) and decadal average crop profitability, a transition to forest on agricultural land would be more profitable than 23.2% of cropland in Maryland under a 20-year land-use commitment. Accounting for variations in carbon and crop pricing, 5.5% to 55.4% of cropland would be immediately outcompeted by expected forest carbon revenue, with the potential for an additional 0.5% to 10.6% of outcompeted cropland within 20 years. Under the baseline economic scenario, an annual allocation of $5.8 million towards a carbon rental program could protect 6.93 Tg C (2.2% of the state’s total CSP) on reforested croplands. This moderate yearly cost is equal to 9.7% of Maryland’s average annual auction proceeds from participation in the Regional Greenhouse Gas Initiative (between 2014-2018), and 19.3% of the average annual subsidy payments for corn, soy, and wheat allocated over the same period. This methodological approach may be useful for state governments, not-for-profit organizations, or regional climate initiatives interested in identifying strategic areas for reforestation.

54 ENVIRONMENTAL SCIENCES↗
DOE OSTI2024

Impact of carbon dioxide removal technologies on deep decarbonization: EMF37 MARKAL–NETL modeling results

Here this paper examines the MARKAL-NETL modeling results for the Energy Modeling Forum Study on Deep Decarbonization & High Electrification Scenarios for North America (EMF 37) with specific focus on carbon dioxide removal (CDR) technologies and opportunities under different scenarios guidelines, policies, and technological advancements. The results demonstrate that CDR, such as, bioenergy with carbon capture and storage (BECCS), direct air capture (DAC) and afforestation are key negative emission technologies in deep decarbonization scenarios in the U.S. are accounted for about 70% of annually avoided carbon dioxide emissions (CO 2 ) by 2050, or more than 2 billion tons of CO 2 (GtCO 2 ). The potential scale of CDR and its impact on the energy system depends on energy supply and demand technologies advancement and their costs, the level of end-use sectors electrification, availability and costs of CDR. Results show that the carbon prices are substantially lower if the advanced technologies available, particularly, in carbon management scenarios.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗