Power generation and pollutant emissions in the European Union: A mean-variance model

• Type: Article in International Scientific Journal
• Date: 2018

Authors

deLlano Paz, F (Author) Other; Calvo Silvosa, A (Author) Other; Iglesias Antelo, SI (Author) Other; Soares, I (Author) FEP

Journal

Title: Journal of Cleaner Production

Vol. 181

Pages: 123-135

ISSN: 0959-6526

Publisher: Elsevier

Indexing

ISI Web of Knowledge - 19 Citations

Scopus - 20 Citations

Other information

Authenticus ID: P-00N-MWT

DOI: 10.1016/j.jclepro.2018.01.108

Abstract (EN): In this work, portfolio theory is applied to efficient electricity generation from both an economic and environmental point of view. The proposed model includes all the generation costs for different technologies, including externalities; the risk derived from them, and a set of constraints on the emission of pollutant gases, such as carbon dioxide, sulphur dioxide, nitrogen oxides and particulate matter. Our results show that the EU technology portfolio, as proposed by the International Energy Agency for the 2030 horizon, is far from efficient. The joint cost-risk-environmental perspective confirms the need to increase the share of renewable energy technologies in the European energy mix, including photovoltaic energy, and to promote wind power as much as possible, to reduce the environmental impact. It is also necessary to continue to rely on hydro, CCS and nuclear technologies, in order to optimize the cost-risk tradeoff and the security of supply. In addition, it is concluded that restrictions on other pollutant gases should be also imposed, because they would contribute to reducing the environmental impact, with a relatively small increase in terms of cost-risk.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 13