Volume 26: Closing Carbon Cycles – A Transformation Process Involving Technology, Economy, and Society: Part I

Exploring the investment cost of construction of renewable power plant considering the effect of climate impact Mohammad Reza Yazdi-Samadi

Abstract

By the end of the century, all countries must reduce carbon dioxide emissions to zero. As a result of deep decarbonization and the highest greenhouse gas emissions pathways, this study examines the effects of climate change on our planet. It is necessary to build renewable power plants in order to keep the global temperature well below 2 centigrade degrees. Despite this, building new renewable power plants costs almost twice as much as stranded fossil fuel power plants. Based on different emission reduction targets, this study compares the costs of different mitigation strategies. When comparing mitigation strategies, indirect consequences such as socioeconomic costs and environmental costs should be taken into account.

Keywords renewable power plants, climate change impacts, integrated assessment, human-earth systems, electricity