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Expectations for Coal Demand in Response to Evolving Carbon Policy and Climate Change Awareness.

Authors :
Aguirre-Villegas, Horacio Andres
Benson, Craig H.
Source :
Energies (19961073); May2022, Vol. 15 Issue 10, pN.PAG-N.PAG, 21p
Publication Year :
2022

Abstract

Increasing awareness of climate change has induced demand for action most notably. As public demand for action on climate change increases, conversion to energy sources with lower greenhouse gas (GHG) intensity will accelerate. Experience during the COVID-19 pandemic provided insight into how atmospheric conditions will respond to lower GHG emissions. A low-carbon future will require decarbonization of the energy supply mix for electrical production and industrial processes. Coal demand likely will decrease more rapidly than other fossil energy sources, replaced by natural gas and renewable energy sources that have lower GHG intensity and that will be available readily and economically. This decline will accelerate as China focuses on its carbon neutrality goals, the U.S. re-engages in the Paris Agreement, and India moves to a lower carbon future. However, perturbations in the decline will inevitably occur in response to global issues (e.g., pandemic, military conflict). Carbon capture, utilization, and storage (CCUS) technologies can reduce GHG emissions from coal as an energy source, but the capital and operation costs of CCUS remain high, which translates to slow commercial deployment. In this study, a literature review and interviews with industry experts and business leaders were conducted to understand the current and projected role of fossil fuels, primarily coal, in the global energy matrix; present their contributions to GHGs; analyze the effects of social expectations and climate policy on energy choices and coal demand; and describe the expected impacts on coal production for decades to come. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
19961073
Volume :
15
Issue :
10
Database :
Complementary Index
Journal :
Energies (19961073)
Publication Type :
Academic Journal
Accession number :
157190972
Full Text :
https://doi.org/10.3390/en15103739