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Adaptation of thermal power plants: The (ir)relevance of climate (change) information

The (ir)relevance of climate (change) information

descriptionPublicationkeyboard_double_arrow_right Article , Journal , Other literature type 01 Feb 2017 Austria, Netherlands Publisher:Elsevier BVJournal:Energy Economics, volume 62, pages 1-18 (issn: 0140-9883,

Authors: Michelle T. H. van Vliet; Michelle T. H. van Vliet; Christian Bogmans; Gerard P.J. Dijkema;

doi: 10.1016/j.eneco.2016.11.012

handle: 11370/ec540e67-d88b-4975-b86d-3f05db961c06

Adaptation of thermal power plants: The (ir)relevance of climate (change) information

- Summary
- Subjects
- Metrics

Abstract

When does climate change information lead to adaptation? We analyze thermal power plant adaptation by means of investing in water-saving (cooling) technology to prevent a decrease in plant efficiency and load reduction. A comprehensive power plant investment model, forced with downscaled climate and hydrological projections, is then numerically solved to analyze the adaptation decisions of a selection of real power plants. We find that operators that base their decisions on current climatic conditions are likely to make identical choices and perform just as well as operators that are fully ‘informed’ about climate change. Where electricity supply is mainly generated by thermal power plants, heat waves, droughts and low river flow may impact electricity supply for decades to come.

Countries

Austria, Netherlands

Related Organizations

International Monetary Fund
United States
International Monetary Fund
United States
Wageningen University & Research
Netherlands
University of Groningen
Netherlands
International Institute for Applied Systems Analysis
Austria

Keywords

330, OPTION VALUES, IMPACT, 333, RESOURCE, Real options, Thermal power plants, WATER, Climate change, Adaptation, TEMPERATURE, GENERATION

Impact byBIP!

	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	12
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Top 10%
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Average
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Average