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Paying a Premium fo...
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Johansson, Per-OlovStockholm School of Economics,Handelshögskolan i Stockholm
(författare)
Paying a Premium for "Green Steel" : Paying for an Illusion?
- Artikel/kapitelEngelska2022
Förlag, utgivningsår, omfång ...
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Cambridge Univ Press,2022
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electronicrdacarrier
Nummerbeteckningar
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LIBRIS-ID:oai:hhs.se:1156922190006056
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https://research.hhs.se/esploro/outputs/journalArticle/Paying-a-Premium-for-Green-Steel/991001493498806056URI
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https://doi.org/10.1017/bca.2022.20DOI
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https://res.slu.se/id/publ/119909URI
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Språk:engelska
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Sammanfattning på:engelska
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Ämneskategori:art swepub-publicationtype
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Ämneskategori:ref swepub-contenttype
Anmärkningar
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http://creativecommons.org/licenses/by/4.0/
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The iron and steel industry generates around 10 % of global greenhouse gas emissions. The bulk of the emissions originates from the iron ore reduction. In this reduction, coal is used as a reagent. Steelmakers could switch to hydrogen-based direct reduction using hydrogen instead of coal as a reagent to reduce iron ore to pig iron. This would eliminate the CO2 emissions from the equivalent process in a traditional blast furnace. However, the process requires massive amounts of electricity. This paper looks at the economics of such a switch to "green steel." We assess a marginal increase in the production of a hypothetical green steelmaker. We also undertake an investment appraisal of a green plant, based on an ongoing installation in Northern Sweden, but also briefly consider a possible/planned investment in the US. This appraisal is complemented by computing the survival function for the net present value in a systematic sensitivity analysis. It seems highly unlikely that a green steel plant can be socially profitable. If the green plant displaces conventional steel produced within the European Union's cap-and-trade system for greenhouse gases, total emissions remain more or less unaffected; permits and emissions are simply reshuffled. Hence, if end-users of green steel pay a premium, they might pay for an illusion.
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Kriström, BengtSwedish University of Agricultural Sciences,Sveriges lantbruksuniversitet,Institutionen för skogsekonomi,Department of Forest Economics(Swepub:slu)47411
(författare)
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Handelshögskolan i StockholmStockholm School of Economics
(creator_code:org_t)
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Sveriges lantbruksuniversitet
Sammanhörande titlar
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Ingår i:Journal of Benefit-Cost Analysis: Cambridge Univ Press13:3, s. 383-3932152-28122194-5888
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