REACT Carbon Tax Calculator Overview
PALcarbon is produced by Predict Ability Ltd (PAL). REACT (Reinsurance Event-Attributed Carbon Tax) Calculator provides predictable carbon prices by energy type based on current electricity generation data and provides ‘what-if’ carbon emission and revenue scenario analysis. Features include:
- Dollar prices on damage attributable to climate change per tonne of CO2 emitted,
- Selected fuel and energy types price-weighted by their CO2 impact and usage
- Intraday tracking of power generation, carbon emissions and carbon costs for 30 countries.
- Historical tracking of carbon metrics for 100 more countries.
For example, lets say switching on Hinkley Point C nuclear power station would provide an additional 3.2 GW of installed capacity. The calculator provides an indication of how overall emissions and damages would change, and by how much. Similarly, if Hinkley C were to replace existing energy supplies arising from biomass, gas or coal combustion, the calculator will indicate how overall carbon intensity, emissions and damages would be reduced.
The PALcarbon app is the data and calculation vehicle that Predict Ability Ltd has published as the world’s first independent, scientifically robust scheme for a fair and meaningful approach to dealing with past, present and future carbon emissions. It has a major advantage over existing cap and trade systems: it is not vulnerable to political manipulation.
The science that underpins PALcarbon is explained in ‘Predicting the Price of Carbon: How to Crack the Climate Change Code for Good’. Written by Richard H. Clarke, Director (Research), Predict Ability Ltd, this book is available to buy in electronic version from iBooks and Kindle, and in paperback from Amazon.
CO2 emissions are not going to stop any time soon, and their consequences will last for hundreds of years. PALcarbon is a common sense pricing algorithm for a carbon world.
REACT Carbon Tax Calculator Screenshot
REACT Carbon Tax Calculator Detail
- fuel – the list of fuels that make up the system, sector country or region.
- energy % – the percentage allocation of each fuel used in the energy-mix.
- energy E – the total useful energy consumed, in megawatts
- carbon intensity e – the emission rate for the given fuel expressed in tonnes of CO2 emitted per megawatt hour of useful energy consumed.
- carbon emissions Ee – the current rate ofCO2 emissions expressed in tonnes of CO2 per hour.
- carbon price y – the carbon price per fuel-type expressed in US$ per tonne of CO2 emitted.
- carbon revenue tax R – the cost of weather related loss and damage attributable to climate change, expressed in US$ per hour. R = Ee x y
What-if Scenario Analysis
- select a sector, country or region. The calculator will show current energy usage and carbon pricing data. UK Electricity is shown here.
- update the total energy consumed, E, as needed.
- alter the energy mix by dragging the sliders. Alternatively type in the percentage allocations into the yellow boxes.
- update the global carbon price, y, as needed.
- click calculate to view the revised energy, emissions, per-enery-type carbon prices and tax revenue.
- You can then save and share different scenario links by clicking e-mail . Here is one we made earlier: Hinkley Point C before and after scenario showing how carbon intensity might drop from 0.3 to 0.2 tCO2/MWh .
- Market – choice list for selecting the sector/country/region.
- Calculate – tap to update energy, emissions, per-enery-type carbon prices and tax revenue calculations.
- Price Dashboard – tap to start the PALcarbon Dashboard for current global predictable carbon prices along with historical price, emission and financial damage charts for all energy types
- Real-time Prices – tap to start the PALcarbon App and see intraday prices.
- Email – tap to save and share specific calculator scenarios with colleagues.
- PALcarbon Simply Explained
- View the PALcarbon UK Dashboard. A France Dashboard and France-UK Composite Dashboard is available also.
- Read about the PALcarbon Dashboard
- Find out more about Carbon Intensity Weightings including an excellent worked example.
- Start using the PALcarbon API for accessing predictable real-time carbon price data.