Fig. 1: Plant-level dynamic decision-making process under the national carbon emission reduction pathways and the associated transition costs.
From: Reducing transition costs towards carbon neutrality of China’s coal power plants
a Alternative carbon emission reduction pathways (CERPs) under the 50% cumulative emission reduction target (these CERPs are the combination of four carbon peaks and two net-zero timelines; the carbon emission pathway under the business-as-usual scenario represents a situation where all coal plants do not adopt any emission reduction options until their natural retirement; the line colors in (a) correspond to the dot colors in (c); deep decarbonization refers to an 80% reduction in carbon emissions from 2020 levels). b The dynamic decision-making process for a hypothetical coal plant on a five-year interval, where it can opt for flexibility operation (Flex), biomass and coal co-firing technology (BE), carbon capture and storage technology (CCS), or choose early retirement (CR). A coal plant reaching 40 years of age will be naturally retired (NR). If a coal plant adopts both BE and CCS, it can achieve negative emissions depending on its co-firing ratio choice. A BE plant can adjust its co-firing ratio in each decision-making year. A Flex plant can adjust its operation hours as required. c Transition costs associated with the alternative CERPs.
