Open Access

THE POWER SECTOR'S DECARBONIZATION TRAJECTORY: DEVELOPING AN ELECTRICITY CLIMATE ALIGNMENT METRIC

https://doi.org/10.55640/ijrgse-v02i07-01

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Dr. Tobias Müller ¹ , Dr. Chen Li ¹ ,

⁴ Institute for Renewable Energy Systems, Technical University of Munich, Germany

⁴ Department of Electrical Engineering, Tsinghua University, China

Abstract

The global power sector is pivotal to achieving climate targets, yet its decarbonization presents complex challenges, including the risk of stranded assets. This article proposes an Electricity Climate Alignment Metric (ECAM) to comprehensively assess and track global progress towards a low-carbon electricity future. The ECAM integrates key components such as carbon intensity, share of low-carbon electricity, fossil fuel plant profiles, committed emissions, stranded asset risk, and investment flows. Anticipated results highlight a multi-speed transition and pinpoint regions vulnerable to stranded assets due to existing fossil fuel infrastructure. The discussion emphasizes the profound policy and investment implications, advocating for accelerated renewable deployment, managed fossil fuel phase-out, robust carbon pricing, and international cooperation. The ECAM aims to provide quantifiable insights for policymakers and investors to navigate the transition, manage financial risks, and accelerate the shift to a climate-compatible electricity system.

Keywords

Electricity, Decarbonization, Climate Change

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