The Pathway to NDC and Carbon Neutrality: Roles of Optimum Degree between Marginal Abatement Cost and Social Cost of Carbon in the Thai Power and Industrial Sector

Phitsinee Muangjai, Wongkot Wongsapai (), Tassawan Jaitiang, Chaichan Ritkrerkkrai, Sopit Daroon and Waranya Thepsaskul
Additional contact information
Phitsinee Muangjai: Office of Research Administration, Chiang Mai University, Chiang Mai 50200, Thailand
Wongkot Wongsapai: Faculty of Engineering, Chiang Mai University, Chiang Mai 50200, Thailand
Tassawan Jaitiang: Multidisciplinary Research Institute, Chiangmai University, Chiang Mai 50200, Thailand
Chaichan Ritkrerkkrai: Office of Research Administration, Chiang Mai University, Chiang Mai 50200, Thailand
Sopit Daroon: Program in Energy Engineering, Department of Mechanical Engineering, Faculty of Engineering, Chiang Mai University, Chiang Mai 50200, Thailand
Waranya Thepsaskul: Program in Energy Engineering, Department of Mechanical Engineering, Faculty of Engineering, Chiang Mai University, Chiang Mai 50200, Thailand

Sustainability, 2023, vol. 16, issue 1, 1-24

Abstract: Thailand has formulated its climate change policy and updated the relevant plans and policies to align with the goal of achieving carbon neutrality and net-zero greenhouse gas (GHG) emissions. This study investigated the optimal level of GHG mitigation in Thailand by taking into account the marginal abatement cost (MAC) and social cost of carbon (SCC). The research also evaluated how energy efficiency and renewable energy technologies could influence GHG reduction in the power and industrial sectors and illustrate policy recommendations that could be aligned with the 2020–2050 policy and plan period. The findings indicated that there could be instances where GHG mitigation potential would be insufficient to reach the national milestone. In such cases, it would become imperative to leverage all technologies within the marginal abatement cost curve (MACC) and also utilize the SCC for policy decision-making and meeting the desired goals. In certain scenarios, the adoption of additional technologies or measures would be necessary, such as flexible power generation and deploying carbon capture and storage or hydrogen, which are high-cost technologies. Furthermore, preparations should be made for multiple levels of climate change policies and plans beyond 2030.

Keywords: NDC; carbon neutrality; optimum degree; marginal abatement cost; social cost of carbon; Thailand (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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