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Bhadane, Yuktha Turvey, Calum Tobin, John 2025-08-20T21:35:25Z 2025-08-20T21:35:25Z 2025-05 ProQuest Submission ID: 12421 ProQuest Publication ID: 32000309 https://hdl.handle.net/1813/117398 https://doi.org/10.7298/0tyf-6c51 16938271 122 pages This thesis examines the economic returns of decarbonizing the global power sector. Using data from 79,797 operational power plants across 156 countries, I quantify both costs and benefits through 2035 and 2050, globally and for countries. Themethodology extends the Coasian approach to all fossil fuels in electricity generation. The findings challenge the widespread belief that just climate action is too expensive. With a social cost of carbon of $190/tCO2e, net benefits reach $11.0 trillion by 2035 and $50.4 trillion by 2050. Notably, just 3.3% of total costs come from compensating fossil fuel owners, shifting the focus to mobilizing capital as the main challenge. While 45 countries see positive returns from self-financing by 2035, others need cross-border climate finance. This analysis transforms climate finance from a perceived zero-sum game into a positive-sum opportunity. Rather than charity, investments from developed to developing countries generate returns of 180-1457%. The findings demonstrate that power sector decarbonization represents both a solution to climate change and a compelling economic opportunity. These results provide policymakers with rigorous economic rationale to accelerate energy transition investments. en Attribution 4.0 International https://creativecommons.org/licenses/by/4.0/ Climate Finance Coasian Bargain Decarbonization Fossil Fuels Power Sector Renewable Energy The Economic Returns of Decarbonizing the Global Power Sector dissertation or thesis https://newcatalog.library.cornell.edu/catalog/16938271 application/pdf Applied Economics and Management Cornell University Master of Science M.S., Applied Economics and Management https://hdl.handle.net/1813/59810.2 Publication Cornell Theses and Dissertations Bhadane, Yuktha 5893a6ea-7af3-41d7-abc6-04bcd26ab5df open.access open.access <Publication xmlns="https://www.openaire.eu/cerif-profile/1.1/" id="01bff218-6149-4a55-be07-18c0714b0c3f"> <Type xmlns="https://www.openaire.eu/cerif-profile/vocab/COAR_Publication_Types">http://purl.org/coar/resource_type/c_1843</Type> <Language>en</Language> <Title>The Economic Returns of Decarbonizing the Global Power Sector</Title> <PublishedIn> <Publication> </Publication> </PublishedIn> <PublicationDate>2025-05</PublicationDate> <DOI>https://doi.org/10.7298/0tyf-6c51</DOI> <Authors> <Author> <DisplayName>Bhadane, Yuktha</DisplayName> <Affiliation> <OrgUnit> </OrgUnit> </Affiliation> </Author> </Authors> <Editors> </Editors> <Publishers> <Publisher> <OrgUnit /> </Publisher> </Publishers> <License>https://creativecommons.org/licenses/by/4.0/</License> <Keyword>Climate Finance</Keyword> <Keyword>Coasian Bargain</Keyword> <Keyword>Decarbonization</Keyword> <Keyword>Fossil Fuels</Keyword> <Keyword>Power Sector</Keyword> <Keyword>Renewable Energy</Keyword> <Abstract>This thesis examines the economic returns of decarbonizing the global power sector. Using data from 79,797 operational power plants across 156 countries, I quantify both costs and benefits through 2035 and 2050, globally and for countries. Themethodology extends the Coasian approach to all fossil fuels in electricity generation. The findings challenge the widespread belief that just climate action is too expensive. With a social cost of carbon of $190/tCO2e, net benefits reach $11.0 trillion by 2035 and $50.4 trillion by 2050. Notably, just 3.3% of total costs come from compensating fossil fuel owners, shifting the focus to mobilizing capital as the main challenge. While 45 countries see positive returns from self-financing by 2035, others need cross-border climate finance. This analysis transforms climate finance from a perceived zero-sum game into a positive-sum opportunity. Rather than charity, investments from developed to developing countries generate returns of 180-1457%. The findings demonstrate that power sector decarbonization represents both a solution to climate change and a compelling economic opportunity. These results provide policymakers with rigorous economic rationale to accelerate energy transition investments.</Abstract> <Access xmlns="http://purl.org/coar/access_right" > </Access> </Publication>