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Introduction
Innovations in Renewable Technology, This dissertation will provide the possible development with respect to the coal-related Carbon Abatement Technologies (CATs) in U.K. It will present different situations for coal-related issues that can be predicted up till 2030. The main purpose of the paper is to predict the importance and future of coal-related things in the U.K. for almost next two decades.
It will also focus upon bringing a strategy for development in the coal sector. Through the demonstration of different scenarios related to the coal sector, it will be possible to understand coal issues and how different suppositions are made in this sector with respect to technology innovation. It will also provide how coal production will have an impact on the supply and demand with respect to technological innovation and how the share of U.K for coal will be affected in the international market.
Scope and Research
This dissertation will be carrying out a study for estimating the future of the coal sector in U.K. However, there are certain limitations or scope to this study. It will be exploring new innovated crushed fuel combustion plant with and without the impact of CCS and new Integrated Gasification Combined Cycle (IGCC) with and without the influence of CCs. It will also focus upon the newly advanced Oxy fuel plan under CCS and CCS retrofit.
There are also some other sources of coal like bio-mass co-firing plants, engineering consultancy for research in the new coal plant, CO2 storage facilities and financial along with legal departments. These areas will also be explored in this dissertation. However the functions of power generation technologies, gas fired generation plant, maintenance of equipment, portfolios for investment purposes and financial market trading will not be explored in detail. Along with these functions, this dissertation will also not be responsible for coal cleaner projects and the social or environmental purposes associated with these projects.
The green house effect associated with coal will also not be the focal point of this paper. By exploring the report of 2008 issued by the IEA Energy Technology Perspectives, it can be said that there seems to be an immense addition of gas Fired CAT by 40 percent roughly. This report was presented with the focus upon the gas fired plant up till 2050 (444). It can be implied from this report that there seems to be somewhat equality in investment in terms of gas and coal related technologies.
Methodology
This section will cover the three important aspects of the paper i.e. outlining the research and study approach, methodology uses in terms of estimating the coal plant markets and retrofit markets and lastly the how the methodology will be used to define and estimate the share of U.K. with respect to other international markets.
There are basically two definitions that are to be used frequently in the research paper. Carbon Abatement Technologies” (CAT) refers to the coal market in the U.K. that is built after 2010 and have innovated and advanced technological equipment in it. This will also count towards the CAT, CCS and biomass co-firing plants. Future value of the U.K. is referring to two aspects.
It can be defined under the influence of economic activities and employment rates. It means the extent of work done related to coal industry in U.K. at present. It can also be called Gross Value added or GVA. On the other hand, it can also be defined in terms of the contracts that are assigned to and managed by the U.K. companies related to the coal manufacturing. Under this condition for the definition, all the contracts managed by the UK based coal companies whether they are to serve their own country or exporting the product. However, job creation or wealth will not have any influence under the second definition (5555).
First definition will be used and GVA concept will be applied to the UK coal industry. There are also some critical questions upon this approach that are essentially needed to be answered. What can be expected the share for UK industry for these new coal plant projects? However, these are uncertainties that will limit the application of the research.
Model Approach
The below picture shows a model this dissertation will be using as a model process. This figure outlines all the basic structure of the new coal power plants running in the UK. A few of them are also pointing towards running in 2030 or before. The estimation of the production is assigned according to the technological equipment used by every power plant, new planning costs for coal production and investment related to different models for business designs and constructions. It also tells the readers about the estimated costs for U.K. coal industry in the near future and how it will be bringing these figures in the coming years.
Different Scenarios
There are also some specific situations where coal value associated with UK is to be investigated to get deep insights of it. These scenarios include the higher new coal plant being carried out by a separate IEA situation,
CCS and IGCC slower uptake, the low level of UK share of international markets due to the discouraging responses from the stakeholders and when there is no UK firm manufacturing coal product. The last scenario shows the affected firms when the product manufacturing is being done in the overseas and coming to UK.
LITERATURE:
SUPPLY
Supply refers to the theory which explains the streaming of goods/services in the market by producers that too in a specific time period (Henderson, 1958).
Price shares direct relations with supply i.e. supply would be highest with maximum price. A supply curve is drawn to graphically demonstrate this relation hence; the price is on the y-axis and quantity supplied on the x-axis. The curve is upwards sloping from the left side to the right.
Determinants of supply:
Supply of goods and services in a market is never invariable; various internal and external factors affect the flow of goods and services (Henderson, 1958).
• Price: Supply is directly proportional to supply which means that a positive change in price result in the increase in supply too.
• Price of other Goods and Services: Complement goods are a specific type of goods that are jointly produces using a certain resource. Their supply is inter-dependent which means if the price of say Good X increases so the supply for good Y, (which is its complement) whose price has not increased, will become less certain. An example would be the CNC kits installed in vehicles, if the price of these CNG kits increases so even though the price of CNG installed cars wouldn’t have increased its supply will defiantly become less attractive.
• Cost of Factors of Production; The inputs or the factor of production are directly related to the cost of producing hence: the ability of producers to actually produce goods and services. There are 4 of these costs which include labour, land, entrepreneur and capital. If the cost of any one of these production resources increases so the producer would try and shift the production process in a way which would require less of that factors of production as compared to the other 3. For example, if the labour demands a raise so the producer would try and shift the production process to capital and hence: start using more machinery in the process of producing these goods and services.
• Technological Advancements: As the technology evolves so does its ability to reduce the cost per unit hence: increasing supply.
• Producers’ Objectives and Goals: The concept of various microeconomic theories enforce the idea that producers main objective is to maximize their profit, however, in real life the producer might have..
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