Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/74398
Authors: 
Jägemann, Cosima
Fürsch, Michaela
Hagspiel, Simeon
Nagl, Stephan
Year of Publication: 
2012
Series/Report no.: 
EWI Working Paper 12/13
Abstract: 
In this paper, the implications of alternative decarbonization pathways for Europe's power sector up until the year 2050 are analyzed. In speci fic, an electricity system optimization model is used to investigate the minimal costs of decarbonization under a stand-alone CO2 reduction target and to quantify the excess costs associated with renewable energy targets and politically implemented restrictions on alternative lowcarbon technologies, such as nuclear power. Our numerical simulations con firm the theoretical argumentation concerning counterproductive overlapping regulation. The decarbonization of Europe's power sector is found to be achieved at minimal costs under a stand-alone CO2 reduction target (171 bn €2010). Additionally implemented RES-E targets lead to signi cant excess costs of at least 237 bn €2010. Excess costs of a complete nuclear phase-out in Europe by 2050 are of the same order of magnitude (274 bn €2010).
Subjects: 
Electricity
CO2 target
renewable target
excess costs
optimization model
JEL: 
C61
Q40
Q50
Document Type: 
Working Paper

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