Predicting the price of carbon: how to crack the climate change code for good. Supplement 1 Hinkley Point C Nuclear Power Station Enhanced Carbon Audit LCA Case Study

New eBook “Hinkley Point C Nuclear Power Station Enhanced Carbon Audit LCA Case Study” out now

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Predicting the Price of Carbon

Supplement 1: Hinkley Point C Nuclear Power Station

Enhanced Carbon Audit LCA Case Study

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Uniquely, in today’s emerging arena of carbon auditing, Predict Ability Ltd (PAL) offers future-proofed carbon-pricing relevant to every industry as well as all existing and future energy sources. PAL’s new development is called ‘Enhanced Carbon Auditing’ (ECA) and far exceeds the reach of conventional carbon-auditing remits, by quantifying the associated financial impact throughout the Life Cycle Assessment (LCA) – currently and, most notably, to 2050 and beyond.

The credibility of low-carbon energy and renewables technologies rests, to a significant extent, on their life-cycle carbon intensity (kg-CO2/MWh). A cradle-to-grave or life-cycle analysis of the emissions that arise from both the manufacture and operation of plant is compared to its energy output. It is important to conduct an LCA for a near-zero-emissions technology, as most of the emissions are embedded in the machinery and supply chain.

In this comprehensive supplement we apply ECA specifically to the proposed Hinkley Point C installation, to determine its individual and time-dynamic carbon rating, directly proportionate to the loss and damage caused throughout each phase of its lifetime: construction, commissioning, operation, refits and decommissioning. We quantify and compare this with an energy-equivalent series of gas-fired power plants, and also with an alternate plan for wind turbine installations equal to the dispatchable output of Hinkley Point C. Furthermore, in graphical format, we pitch PAL’s carbon pricing methodology directly against various existing schemes including EU ETS, the US Social Cost of CO2 (USscCO2) and UK Carbon Price Floor.

In summary, PAL’s Enhanced Carbon Audit demonstrates that:

  • Hinkley Point C’s reduced CO2 emissions – i.e. their consequent loss and damage across the planet – save UK one-third of its estimated lifetime costs, when compared to those of its energy-equivalent gas base load alternatives
  • The environmental benefits from Hinkley Point C compared to the gas powered alternative have huge fiscal savings, specifically monetised in this Enhanced Carbon Audit
  • Existing carbon-pricing systems fail to account fully for the ‘invisible’ carbon footprint associated with the manufacture of clean technologies
  • PAL’s ‘carbon intensity weighting’ system is the only fair and credible methodology for a full and accurate LCA of Hinkley Point C and its alternatives

The Hinkley Point C Nuclear Power Station: Enhanced Carbon Audit LCA Case Study is Supplement 1 to Predicting the Price of Carbon: How to Crack the Climate Change Code for Good.

Edward Coe

Author: Edward Coe

Edward Coe is Managing Director and co-founder of PAL. He has extensive experience of systems development and implementation for advanced derivative trading systems utilising a broad range of technologies supporting in house, bespoke and third party software. Edward developed the software behind PAL Carbon.

New eBook “Hinkley Point C Nuclear Power Station Enhanced Carbon Audit LCA Case Study” out now was last modified: October 26th, 2018 by Edward Coe

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