The framework used in this note is organized around the estimates of industry demand, market share, costs, and performance. All data
Additionally, the CGE model “focuses on traditional economic performance indicators and environmental impacts in terms of emissions from fossil fuel combustion, most notably CO2” (Amin, 2009, p.334). Therefore, it is helpful to evaluate the effects of environmental policies, such as the carbon tax within the framework of the CGE model.
The prevalence and severity of extreme changes in climate will likely affect how much energy is produced, delivered and consumed all over the world. There?s pressure to produce more energy resources for the growing population that have been depleted by unsustainable production systems. Impetus to better manage nonrenewable energy resources must become part of market systems and signals that form decision making in energy resources.
The International Energy Outlook 2013 predicts that the biggest future increase in world energy use will be caused by Non-OECD (Organization for Economic Cooperation and Development) countries, while the energy use within the OECD countries will stay generally stable as it has for the past decades which can be observed in figure 1 (EIA 2015). The OECD countries are experiencing a growth rate of about 0.5% which roughly equates their population growth (EIA 2015). The energy use in non-OECD countries is estimated to increases with an annual rate of 2.2% which would mean they make up for 65% of the world’s primary energy demand in 2040 (EIA 2015).
The objective of this paper is twofold. First, we introduce the modern condition of Canada’s energy consumption and the economic benefits. Second, we define and analyze the projections of Canada’s future with respect to the renewable energy frontier. The demand for Energy across the globe has drastically increased since the Industrial revolution. From coal to steam, all the way to electricity and nuclear energy, modern economies and industries rely on sustainable sources of energy to produce their desired output levels (Zelby 2002). Ontario, and Canada in general are on the frontier of energy production and sustainability with regards to smart grid technologies and so forth (Ontario Energy Plan). Canada specializes in many of the
The issue of carbon emissions is an important one not only from an environmental perspective but also an economic one. While reducing carbon emissions is an important one for the health of human beings as well as that of the environment, the larger question is what type of policy strategy is best for both reducing such emissions which might have an impact on efforts to mitigate the effects of pollution on climate change. While ther are options to consider which does not rely on economics-- technological or output standards achieved by command and control regulations--they are often fraught with political resistance by industry because they do not allow industry to make any choices or play a role in solving the problem of
Renewable energy has currently become a significant aspect in the countries generation, combination, and a constitution focus of government policy for energy, and environmental protection. As a result of public’s growing responsibility for the environment and constantly binding rules, and regulations of emission in the electric power industry, government has facilitated policies to boost the amount of renewable energy in the electricity generation portfolio. Additionally, the generation of electricity from renewable resources creates insufficient, and frequently, zero emissions of pollutants that comes from traditional fossil fuel production technologies. The additional use of renewable energy aids utilities in their emission agreement obligations. Furthermore, the anticipation of agreement with any future carbon emissions management would further toughen the incentive to move towards cleaner electricity creating technologies (Langwith, 2009).
Efficiency at a power plant is determined by energy conversion rate. This is rate is measured by the input energy source, in this case coal, in proportion to the output, which is the power generated. The less fuel that is required for power generation, the more efficient it is. Efficiency is very sensitive in relation to the amount of carbon dioxide emitted. A single percentage increase in the efficiency of a coal fired power plant yields a 2-3% reduction in the carbon dioxide levels emitted by this plant. The power stations on the upper side on the scale of efficiency may emit up to 40% less carbon dioxide than the average power stations currently installed. The efficiency of power plant improvements include the most cost effective and shortest lead time actions for reducing emissions from coal fired electricity. This is especially true in developing and lower-economy countries
The International Energy Agency’s (IEA’s) preliminary estimate of energy-related CO2 emissions in 2015 reveals that emissions stayed flat compared with the year before, whereas the global economy grew (3). The IEA noted that “There have been only four periods in the past 40 years in which CO2 emission levels were flat or fell compared with the previous year, with three of those—the early 1980s, 1992, and 2009—being associated with global economic weakness. By contrast, the recent halt in emissions growth comes in a period of economic growth.”
Socolow and Stephen W. Pacala in their article, “A Plan to Keep Carbon In Check (2006)" suggests that “today’s notoriously inefficient energy system can be replaced if the world gives unprecedented attention to energy efficiency.” Taking steps to institute policies and be cost-efficient will entail structural change, but in the end will be in the best interest for countries to aid in the adaptation of lower carbon products and economic competitiveness. They further state that governments need “to stimulate the commercialization of low-carbon technologies” so there is less demand for fossil fuels thereby increasing “competitive options” for the future. (Socolow & Pacala, 2006) Consequently, the emissions of carbon dioxide into the atmosphere is causing the rise of global temperatures. Utilizing technology specifically for carbon capture and storage is crucial so we can slowly begin our process of adapting to other energy resources. It is also important that all countries participate in policies that will reduce emissions in a cost-effective
In Chinese proverb, “It coming from its people, should absolutely benefit the people.” It means although with a high ratepayer taxes, the government is able to use the taxes on the people. The rest of carbon revenue should spend on investment. Farms have plenty of sunlight for solar and biomass for burning. Diesel engines can be made to run off of plant oils. It is efficiency to replacing coal with clean energy for reduce the greenhouse gas emission. It could build wind turbines replace coal. It is more safely and reliably use the intermittent flow of electricity that comes form wind turbines. It will reward from invested new technology, even have high cost
The problem we face is big corporations. They have invested million dollars in non-renewable energy sources, and have continued to fight against the renewable energy movement. Amory Lovins, in his 40-year plan for energy, stated our non-renewable current energy system would have to be replaced by 2050, costing a total of $6 trillion. It would cost the same amount of money to replace coal and power plants with wind farms, solar panels, and other renewable energy sources. While also, maximizing security, saving $5 trillion throughout their life cycle, 158% bigger economy, and reducing fossil carbon emissions by 82-86%. The federal government offers tax breaks, grants, and other refunds for switching to more environmental friendly equipment. For the coal and gas industry to follow suit, there will need to be more of a demand for cleaner energy through electric cars and other products that don’t rely on non-renewable energy sources.
As climate change continues to loom as the greatest threat to the future of humanity, economists and scientists across the globe must come together in order to provide solutions. Atmospheric carbon dioxide is on the rise, at higher rates than ever before. Historically, 337 billion metric tonnes of carbon has been released into the atmosphere since 1751 (Boden et al., 2010). Of these global emissions, approximately 76% is produced through the burning of fossil fuels, 19% due to combustion of gas fuels (most commonly natural gas), 4% through cement production,
This essay focuses on two renewable energy resources. First of all, biofuel is now accepted as alternative energy in worldwide. The figures continue upward trend in the biofuel production. ‘An annual growth rate of 6.8% from 2006 to 2030 is expected for total biofuels consumption in the transport sector’ (International Energy Agency: 2008 cited in Zhou, et al., 2009:S11). Significant leaders of the biofuel market are Brazil, the United States and the European Union. The results of research indicated that 92% of the world’s ethanol is produced by Brazil and US together, while 90% of the world’s biodiesel manufactured by the EU. In addition, several developing countries in Asia such as Indonesia, Malaysia, Thailand, and the Philippines have an enormous potential for biofuel production. Now these countries are
On the same note, the energy revolution spoken of above brings forth another advance in the ongoing global climate situation. The nature of the Kyoto Protocol calls for nations to increase research and eventually semi-convert their energy usage to accommodate for cleaner energy. Products such as solar power, wind power, biomass, geothermal power, and hydropower are now widely being studying to create processes that use less coal, oil, and natural gas in production. Altogether the results have