This group brings together the best thinkers on energy and climate. Join us for smart, insightful posts and conversations about where the energy industry is and where it is going.

Post

Social Cost of Carbon 3X+ Higher

Karl R. Rábago's picture
Principal, Rábago Energy LLC

Karl R. Rábago operates an energy consultancy as Rábago Energy LLC, based in Denver, Colorado, USA. Karl has more than 30 years of experience in energy and climate policy and markets and is...

  • Member since 2021
  • 9 items added with 1,051 views
  • Sep 2, 2022
  • 753 views

My inbox is blowing up - on the Friday before a long weekend, to boot - about the new story at the Washington Post that says researchers published in the journal Nature. It says that the social cost of carbon emissions is not $7/ton as used by the Trump administration, and not $51/ton as used by the Obama and Biden administration, but a whopping $185/ton.

Surely this will prompt debate, but I think it is worth thinking about how a much higher social cost of carbon could impact all manner of things energy. A short list includes IRPs, dispatch, and electrification. There are doubtless energy justice and equity issues related to who bears the costs, as well.

How do we grapple with such information? Here are some questions for potential discussion:

Is an IRP valid if it doesn't include at least one scenario or sensitivity that reflects carbon costs at $150 or above?

Can we afford NOT to encourage distributed generation and net metering?

How much faster can we electrify transportation with renewables?

What is the present value of potential damages for the existing fleet, and how does that factor into retirement studies?

Do long term decarbonization commitments all need a fresh look and more aggressive timetables?

Can we really accept continued externalization of such costs when they are so high?

karl

 

 

Discussions

No discussions yet. Start a discussion below.

Karl R. Rábago's picture
Thank Karl R. for the Post!
Energy Central contributors share their experience and insights for the benefit of other Members (like you). Please show them your appreciation by leaving a comment, 'liking' this post, or following this Member.
More posts from this member

Get Published - Build a Following

The Energy Central Power Industry Network® is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.

If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.

                 Learn more about posting on Energy Central »