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GTAP Resource #7259

"Role of Advanced Steelmaking Technologies in Global Climate Change Mitigation Scenarios"
by Benavides, Kali, Angelo Gurgel, Jennifer Morris, Haroon Kheshgi, Howard Herzog and Sergey Paltsev

While integrated assessment models (IAMs) are widely used for policy assessments, many IAMs represent key industrial sectors in a highly aggregated manner, which does not capture numerous technical differences between technologies. In this study, we enhance the representation of iron and steel production pathways in a multi-sector, multi-region, computable general equilibrium model that represents the world economy, namely the MIT Economic Projection and Policy Analysis (EPPA) model. This research builds upon prior techno-economic assessments of two low-emission steel production technologies: direct reduced iron-electric arc furnace with carbon capture and storage (DRI-EAF with CCS) and H2 based direct reduced iron-electric arc furnace (H2 DRI-EAF), which utilizes low carbon hydrogen to avoid CO2 emissions. The low carbon hydrogen is represented by “Blue” hydrogen produced via autothermal reforming with CCS and “Green” hydrogen produced via a renewable energy powered electrolyzer. Utilizing the EPPA model, we evaluate the deployment of these technologies in global emissions mitigation scenarios. Our analysis provides insight into regional decarbonization pathways that could occur under specific technology and policy conditions. Our findings can be used to help decision-makers assess various decarbonization options and design economically efficient pathways to reduce emissions in the steel industry and other “hard to abate” sectors.

Resource Details (Export Citation) GTAP Keywords
Category: 2024 Conference Paper
Status: Not published
By/In: Presented during the 27th Annual Conference on Global Economic Analysis (Fort Collins, Colorado, USA)
Date: 2024
Created: Paltsev, S. (4/14/2024)
Updated: Paltsev, S. (5/29/2024)
Visits: 132
- Climate change policy
- Environmental policies
- Technological change
- Model extension/development
- Global

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