Air Pollution Control in the Context of Carbon Policy Uncertainty
This study analyzed the then-impending Mercury and Air Toxics (MATS) rule, which has forced retrofit or retire decisions at a large portion of the existing US coal fleet. FACETS was used to assess the impact of uncertainty about future carbon emissions policies on the retrofit or retire decision, and to estimate the value of stranded investments that would be created by carbon policies of varying degrees of stringency revealed only after retrofit investments had been undertaken. Special attention was paid to the regional distribution of losses and gains, and the opportunities for foresight about the carbon policy to reduce losses.
This contribution to a book of TIMES modeling case studies, organized by the Energy Technology Systems Analysis Program of the International Energy Agency to demonstrate how TIMES models are being used to address complex energy policy questions, was designed as an illustration of how the TIMES platform can be used to analyze problem spaces that are much more highly detailed than has been common previously. It also documents in detail the emissions and emissions control modeling in FACETS.
The chapter can be downloaded here.