Carbon dioxide removal (CDR) options - GCAM: Difference between revisions
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Note: The documentation of GCAM is 'under review' and is not yet 'published'!
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GCAM can be considered as a process model for CO<sub>2</sub> emissions and reductions. CO<sub>2</sub> emissions change over time as fuel consumption in GCAM endogenously changes. Application of Carbon Capture and Storage (CCS) is explicitly considered as separate technological options for a number of processes, such as electricity generation and fertilizer manufacturing. | GCAM can be considered as a process model for CO<sub>2</sub> emissions and reductions. CO<sub>2</sub> emissions change over time as fuel consumption in GCAM endogenously changes. Application of Carbon Capture and Storage (CCS) is explicitly considered as separate technological options for a number of processes, such as electricity generation and fertilizer manufacturing. GCAM, in effect, produces a Marginal Abatement Curve for CO<sub>2</sub> as a carbon-price is applied within the model [http://jgcri.github.io/gcam-doc/emissions.html#co2-emissions <nowiki>[1]</nowiki>]. | ||
Revision as of 17:12, 25 August 2020
Note: The documentation of GCAM is 'under review' and is not yet 'published'!| Corresponding documentation | |
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| Model information | |
| Model link | |
| Institution | Pacific Northwest National Laboratory, Joint Global Change Research Institute (PNNL, JGCRI), USA, https://www.pnnl.gov/projects/jgcri. |
| Solution concept | General equilibrium (closed economy)GCAM solves all energy, water, and land markets simultaneously |
| Solution method | Recursive dynamic solution method |
| Anticipation | GCAM is a dynamic recursive model, meaning that decision-makers do not know the future when making a decision today. After it solves each period, the model then uses the resulting state of the world, including the consequences of decisions made in that period - such as resource depletion, capital stock retirements and installations, and changes to the landscape - and then moves to the next time step and performs the same exercise. For long-lived investments, decision-makers may account for future profit streams, but those estimates would be based on current prices. For some parts of the model, economic agents use prior experience to form expectations based on multi-period experiences. |
GCAM can be considered as a process model for CO2 emissions and reductions. CO2 emissions change over time as fuel consumption in GCAM endogenously changes. Application of Carbon Capture and Storage (CCS) is explicitly considered as separate technological options for a number of processes, such as electricity generation and fertilizer manufacturing. GCAM, in effect, produces a Marginal Abatement Curve for CO2 as a carbon-price is applied within the model [1].