Browsing by Subject "Carbon emissions"
Now showing 1 - 4 of 4
Results Per Page
Sort Options
Item Carbon sequestration and carbon management policy effects on production agriculture in the Texas High Plains(2012-08) Zivkovic, Sanja; Hudson, Darren; Knight, Thomas; Chenggang, Wang; Misra, Sukant K.Increased concentration of greenhouse gases in the atmosphere, especially of carbon dioxide, has led to attempts to implement carbon policies in order to limit and stabilize gases at acceptable levels. Agricultural activities can increase greenhouse gases in the atmosphere, but they can also mitigate the increasing atmospheric concentration of carbon dioxide and help prevent climate change by sequestering additional carbon. Although agriculture is currently not the target of carbon management policies, it is often seen as a potential market for sequestration credits and the agricultural industry needs to have more information about the values of sequestration management in case it becomes one of the targets of these policies. This study evaluated carbon emissions and carbon sequestration and examined the impacts of payments for sequestration and taxes on carbon emissions on cropping choices, profitability, and water consumption in the Texas High Plains. The results showed that reduction of total carbon emissions to 15% of a baseline and imposing a tax would reduce the amount of water consumed for irrigation, by about 20% and 16%, respectively. However, carbon payment for sequestration did not affect reduction of carbon emissions, water consumption nor the product mix.Item Economics of biomass fuels for electricity production: a case study with crop residues(2009-05-15) Maung, Thein AyeIn the United Sates and around the world, electric power plants are among the biggest sources of greenhouse gas emissions which the Intergovernmental Panel on Climate Change argued was the main cause of climate change and global warming. This dissertation explores the factors which may induce electricity producers to use biomass fuels for power generation and thereby mitigate the impact of greenhouse gas emissions. Analyses in this dissertation suggest that there are two important factors which will play a major role in determining the future degree of bioelectricity production: the price of coal and the future price of carbon emissions. Using The Forest and Agricultural Sector Optimization Model?Green House Gas version (FASOMGHG) in a case study examining the competitiveness of crop residues, this dissertation finds that crop residues currently cost much more than coal as an electricity generation feedstock because they have lower heat content and higher production /hauling costs. For them to become cost competitive with coal, the combined costs of production and hauling must be cut by more than half or the coal price needs to rise. In particular, for crop residues to have any role in electricity generation either the price of coal has to increase to about $43 per ton or the carbon equivalent price must rise to about $15 per ton. The simulation results also show that crop residues with higher heat content such as wheat residues will have greater opportunities in bioelectricity production than the residues with lower heat content. In addition, the analysis shows that improvements in crop yield do not have much impact on bioelectricity production. However, the energy recovery efficiency does have significant positive impact on the bioelectricity desirability but again only if the carbon equivalent price rises substantially. The analysis also shows the desirability of cofiring biomass as opposed to 100% replacement because this reduces haling costs and increases the efficiency of heat recovery. In terms of policy implications, imposing carbon emission restrictions could be an important step in inducing electric power producers to include biofuels in their fuelmix power generation portfolios and achieve significant greenhouse gas emission reductions.Item Internalizing the carbon externality : greenhouse gas mitigation’s financial impact on electric utilities and their customers(2010-05) Woodward, James T. (James Terence), 1982-; Groat, Charles G.; Boske, Leigh B.Social, political, and economic trends suggest that the United States may soon join other United Nations Framework Convention on Climate Change (UNFCCC) countries in drafting substantive, national climate change policy. After providing a brief overview of past and present climate action taken both nationally and internationally, this paper explores different economic solutions to address the externalities of fossil fuel emissions. Alternatives include command-and-control regulation, a carbon tax, and a cap-and-trade program. Several factors, including domestic political anti-tax sentiment, suggest that a cap-and-trade framework is the most promising market-based alternative to reduce carbon emissions within the United States’s electricity sector. Case studies focus on the power generation components of four Texas utilities: Austin Energy, CPS Energy of San Antonio, NRG Energy, and Luminant and assess cap-and-trade’s ramifications on electricity prices. Utilities would seek to pass through to customers in the form of higher electricity prices up to 100 percent of expenses incurred from mitigating greenhouse gas (GHG) emissions. Three primary factors will determine how a given carbon dioxide cap-and-trade allowance price will affect the electricity price charged by utilities: the carbon intensity of the generation fuel mix, whether the wholesale electricity market is regulated or competitive, and whether greenhouse gas allowances are auctioned or grandfathered to covered entities. Consumer elasticity would determine resulting demand for the higher priced energy. Relatively inelastic electricity consumption could cause electricity sector customers to incur financial losses approximately eight times larger than producers by the year 2020 under a mature cap-and-trade framework. Furthermore, evidence suggests market-based GHG reduction tools such as a cap-and-trade schema alone are not sufficient to decarbonize the electricity generation sector. Without complementary regulatory policies that mandate transition to clean energy sources, cap-and-trade will only succeed in redistributing the opportunity cost associated with the carbon externality.Item Risk management strategies and portfolio analysis for electricity generation planning and integration of renewable portfolio standards(2010-05) Ritter, Stephanie Michelle; Spence, David B.; Groat, CharlesRenewable Portfolio Standards (RPS) require electricity providers to supply a minimum fixed percentage or total quantity of customer load from designated renewable energy resources by a given date. These policies have become increasingly prevalent in the past decade as state governments seek to increase the use of renewable energy sources. As a policy tool, RPS provide a cost-effective, market-based approach for meeting targets which promote greater use of renewable energy in both regulated and deregulated markets. To facilitate the obtainment of Renewable Portfolio Standards, most states allow the trading of Renewable Energy Credits (RECs). RECs represent the environmental attributes of renewable energy generation which are decoupled from the generated power. These credits are created along with the generation of renewable energy, decoupled from energy generation, tracked by regional systems, and eventually purchased by retail suppliers to fulfill their RPS obligations. As of April 2010, RPS have been passed into law in 29 states and Washington D.C. and an additional 6 states have non-mandatory renewable portfolio goals however the U.S. government has yet to enact a Federal Renewable Portfolio Standard. Although the final requirements and details of a Federal RPS are undecided, federal standards would be unlikely to preempt or override state programs which are already in place. A key concern regarding the passage of a federal RPS is that a national REC market would result in a shift of wealth from states with few renewable energy resources and limited resource potential to regions richer in renewable resources. Because of the implications that a federal renewable portfolio standard would have on the economy, the environment, and the equitable treatment of all the states, many issues and concerns must be resolved before federal standards will be passed into law. A theoretical case study for an electric utility generation planning decision that includes obligations to meet Renewable Portfolio Standard is presented here. A framework is provided that allows decision makers and strategic planning teams to: assess their business situation, identify objectives of generation planning, determine the relative weights of the objectives, recognize tradeoffs, and create an efficient portfolio using Portfolio Theory. The case study follows the business situation for Austin Energy as it seeks to meet Texas State RPS and mandates set by Austin City Council and prepares for potential National RPS legislation.