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The Pathway to NDC and Carbon Neutrality: Roles of Optimum Degree between Marginal Abatement Cost and Social Cost of Carbon in Thai Power and Industrial Sector
Muangjai, P.; Wongsapai, W.; Jaitiang, T.; Ritkrerkkrai, C.; Daroon, S.; Thepsaskul, W. The Pathway to NDC and Carbon Neutrality: Roles of Optimum Degree between Marginal Abatement Cost and Social Cost of Carbon in the Thai Power and Industrial Sector. Sustainability2024, 16, 160.
Muangjai, P.; Wongsapai, W.; Jaitiang, T.; Ritkrerkkrai, C.; Daroon, S.; Thepsaskul, W. The Pathway to NDC and Carbon Neutrality: Roles of Optimum Degree between Marginal Abatement Cost and Social Cost of Carbon in the Thai Power and Industrial Sector. Sustainability 2024, 16, 160.
Muangjai, P.; Wongsapai, W.; Jaitiang, T.; Ritkrerkkrai, C.; Daroon, S.; Thepsaskul, W. The Pathway to NDC and Carbon Neutrality: Roles of Optimum Degree between Marginal Abatement Cost and Social Cost of Carbon in the Thai Power and Industrial Sector. Sustainability2024, 16, 160.
Muangjai, P.; Wongsapai, W.; Jaitiang, T.; Ritkrerkkrai, C.; Daroon, S.; Thepsaskul, W. The Pathway to NDC and Carbon Neutrality: Roles of Optimum Degree between Marginal Abatement Cost and Social Cost of Carbon in the Thai Power and Industrial Sector. Sustainability 2024, 16, 160.
Abstract
Thailand has formulated her climate change policy and updated relevant plans and policies to align with the goal of achieving carbon neutrality and net zero GHG emissions. This study investigates the optimal level of GHG mitigation in Thailand, taking into account the marginal abatement cost (MAC) and social cost of carbon (SCC). It evaluates how energy efficiency and renewable energy technologies influence GHG reduction in the power and industrial sector and illustrates policy recommendations that align with the 2020 to 2050 policy and plan period. The findings indicate that there may be instances where GHG mitigation potential is insufficient to reach the national mile-stone. In such cases, it becomes imperative to leverage all technologies within the marginal abatement cost curve (MACC) and also utilization of the social cost of carbon for policy decision making and meeting the desired goals. In certain scenarios, the adoption of additional technologies or measures may be necessary, such as flexible power generation and deploying carbon capture and storage or hydrogen which are high-cost technologies. Furthermore, preparations should be made for multiple levels of climate change policies and plans beyond 2030.
Keywords
NDC; Carbon Neutrality; Optimum Degree; Marginal Abatement Cost; Social Cost of Carbon; Industry Sector; Power Sector; Thailand
Subject
Engineering, Energy and Fuel Technology
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.