A considered panel of the world's most eminent pure market economists concluded that of 15 different systems for cutting emissions, the three worst, the three least effective, the three most costly per
tonne of abatement were variations of the carbon tax or ETS.
Not exact matches
We present the first global analysis
of the costs
of abating the estimated 76 million
tonnes of methane emitted worldwide each year in oil and gas operations, which suggest that 40 - 50 %
of these emissions can be mitigated at no net cost, because the value
of the captured methane could cover the
abatement measures.
Accounting for emissions from indirect land - use change pushes up
abatement costs for agricultural biofuels to between # 215 and # 5,540 ($ 330 - 8,500) per
tonne of CO2e depending on the feedstock used, says the report.
While the Government says carbon
abatement costs per
tonne of carbon dioxide equivalent (CO2e) should be about # 56 ($ 87) for road transport, the report says the cost using the current generation
of biofuels ranges from about # 105 to # 715 ($ 165 - 1,100).
Using costs derived for the Federal Department
of Resources, Energy and Tourism the costs for the system are estimated to be: $ 336 / MWh cost
of electricity and $ 290 /
tonne CO2
abatement cost.
The potential
abatement is in the order
of many billions
of tonnes in Australia.
As an example in China, replacement
of residential coal burning by large boiler houses providing district heating is among the
abatement options providing the largest net benefit per
tonne of CO2 reduction, when the health benefits from improved ambient air conditions are accounted for (Mestl et al., 2005).
This is an
abatement cost
of $ 80 /
tonne.
The price per
tonne of carbon dioxide
abatement in the ERF auction last month was $ 10.23.
Moreover, the report forecasts that planned deployment
of HELE technology in the countries profiled, rather than subcritical, will result in an estimated 1.1 billion
tonnes of CO2
abatement annually.
Pacific Hydro state that the CO2
abatement due to the power production
of each
of their 1.5 MW turbines is 5000
tonnes per year (13.7
tonnes per day).
Joe Morrison, CEO
of the North Australian Indigenous Land and Sea Management Alliance, explained that «in time, as the carbon market matures and world prices per
tonne rise, these credits will more than pay for the costs
of the fire
abatement projects.»