We will use En-ROADS to simulate the impact of the carbon price on climate goals. First, we switch off the efficiency buttons from the previous runs. And set the carbon price to 100 $/tone CO2.
It would be interesting to see how the price impacted the energy mix.
As you can see, the market turned away from Coal in favour of more renewables. We now raise the price to 200 $/tone CO2.
References
The Paris Agreement: UNFCCC
EN-ROADS: Climate Interactive
