Table 3.
Investment costs and emission reductions in the power sector.
| Emission reductions (MtCO2) |
Investment costs (M EUR) |
Implicit cost of carbon (EUR/Ton) |
||||
|---|---|---|---|---|---|---|
| Competitive | Strategic | Total | Annualized | Competitive | Strategic | |
| InvestmentO&M | ||||||
| Pandemic | 4.13 | 3.90 | – | – | – | – |
| Solar investments | 4.53 | 4.21 | 6890.11 | 275.60 | 60.80 | 65.44 |
| Wind investments | 4.06 | 3.78 | 6122.97 | 244.92 | 60.34 | 64.81 |
Notes: This table provides the emission reductions triggered by the pandemic (first row), or triggered by investments in renewables: solar PV (second row), or onshore wind (third row). Investment and O&M data come from (IRENA, 2020). The exchange rate for EUR/USD is assumed to be 0.89, which was the average for 2019. The lifetime of the renewable plants is assumed to be 25 years. The implicit cost of carbon is obtained by dividing the fourth column (Annualized Investment) by either the first or second columns. Values from that division may not necessarily match what is reported in the table due to rounding error.