Investments in Liberalized Electricity Markets and the Low-Carbon Energy Transition: A Mixed-method Analysis of the German Case [Elektronische Ressource] / Michael Pahle. Betreuer: Ottmar Edenhofer

Investments in Liberalized Electricity Marketsand the Low-Carbon Energy Transition:A Mixed-method Analysis of the German Casevorgelegt vonDiplom-PhysikerMichael Pahlegeboren in Mainzvon der Fakultät VI – Planen Bauen Umweltder Technischen Universität Berlinzur Erlangung des akademischen GradesDoktor der WirtschaftswissenschaftenDr. rer. oec.genehmigte DissertationGutachter:Prof. Dr. Ottmar EdenhoferProf. Dr. Thomas BrucknerPromotionsausschuss:Prof. Dr. Volkmar Hartje (Vorsitz)Prof. Dr. Ottmar EdenhoferProf. Dr. Thomas BrucknerTag der wissenschaftlichen Aussprache: 17.06.2011Berlin 2011D832 ContentsContentsSummary 7Zusammenfassung 81 Introduction 111.1 Climate Change & Power Supply 121.2 Problem Dimensions 161.2.1 Political Dimension 161.2.2 Economic 191.2.3 Technological Dimension 211.3 The German Case 242 Germany’s dash for coal: Exploring drivers and factors 352.1 Introduction 362.2 Investments in generation capacity 372.2.1 Historic investments 372.2.2 Investments in the newly liberalized market 372.2.3 Current investments and plans 382.2.4 Investments since 2001 in comparison: trend and counter-trend 392.3 Exploring drivers and decision factors 392.3.1 CO2 emission costs and windfall profits (EU ETS) 392.3.2 Fuel costs 402.3.3 Capital costs and financing 412.3.4 Market and generation 412.3.5 Cost structure comparison 422.3.6 Carbon capture and storage 422.3.7 Thermal efficiency 4334 Contents2.3.8 Replacing and siting 442.