CAPITALIZING GREEN PAVEMENT A METHOD AND VALUATION
Transcript of CAPITALIZING GREEN PAVEMENT A METHOD AND VALUATION
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CAPITALIZING GREEN PAVEMENTA METHOD AND VALUATION
Xiaoyu Liu, David Choy (presenting), Qingbin Cui, Charles Schwartz
Pavement Life-Cycle Assessment Symposium
Champaign, IL; April 12-13
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Presentation Overview
1. Problem2. Big Ideas3. Voluntary Carbon Markets4. Pavement Performance Benchmark5. Conclusion
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Hot-mixed vs foamed asphalt (HMA vs FSB)
1/5: PROBLEM
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HMA
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HMA
317Mt produced each year in the U.S.NAPA 2015(in metric)
90%Paved roads in US, Canda, and EuropeMagnum 2006
3xMore GHG/$ spent than power and communication linesTruit 2009
+4Other pollutants: CO, NO2, SO2, various organic compoundsTruit 2009
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HMA
317Mt produced each year in the U.S.NAPA 2015(in metric)
90%Paved roads in US, Canda, and EuropeMagnum 2006
3xMore GHG/$ spent than power and communication linesTruit 2009
+4Other pollutants: CO, NO2, SO2, various organic compoundsTruit 2009
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HMA
317Mt produced each year in the U.S.NAPA 2015(in metric)
90%Paved roads in US, Canda, and EuropeMagnum 2006
3xMore GHG/$ spent than power and communication linesTruit 2009
+4Other pollutants: CO, NO2, SO2, various organic compoundsTruit 2009
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317Mt produced each year in the U.S.NAPA 2015(in metric)
90%Paved roads in US, Canda, and EuropeMagnum 2006
3xMore GHG/$ spent than power and communication linesTruit 2009
+4Other pollutants: CO, NO2, SO2, various organic compoundsTruit 2009
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HMA
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Hot Mix vs Foam Stabilized Base (FSB)
HMA FSB
Aggregate Virgin & Recycled 100% Recycled
Cost $$ $
Mix temperature High Low (Ambient)
Hauling More Less
Use High Low
Thickness Standard A bit more
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Interstate Highway Projects
Only eleven states use recycled materials on interstate highway projects
Image credit: Brian Diefenderfer, PhD, PE, Virginia Transportation Research Council (September 2016)
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Project
• $190 million
• Reconstruction of 7.08 miles (3,000+ trucks/day)
• Addition of a 12ft shoulder
Estimated Impact
• 30 to 50% cost savings
• 50% less greenhouse gasses*
• Fixes deterioration causes, not just symptoms
• Faster than full reconstruction
FSB Example:I-64 Highway: Restoration & Widening
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* initial estimate; I believe actual results will vary
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Full Depth Reclamation (FDR)
Recycles materials on-site
1. Pulverize existing asphalt + underlying base (4 to 12 inches)
2. Treat reclaimed material with additives
3. Compact (drum or pneumatic tire roller)
4. Apply a surface layer
Image credit: Brian Diefenderfer, PhD, PE, Virginia Transportation Research Council (September 2016)
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Cold Central Plant Recycling (CCPR)
Recycles materials in a central place
• In urban areas, central plants can stockpile RAP from contractors that have excess amounts
• Normally requires hauling/fuel
• Mobile mix plants reduce hauling
Image courtesy of Global Resource Recyclers Engineering (2017)
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Barriers
• Business as usual in the U.S.
• Unregulated CO2 markets
• Equipment / re-tooling
• Training
• No consensus on use or structural performance
Drivers
• Low cost of recycled materials
• Environmental goodwill?
••
FSB Barriers and Drivers
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Voluntary Markets & App
2/5: THE BIG IDEAS
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Two Ideas to Drive Adoption
1. Economic
2. Social
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Two Ideas to Drive Adoption
1. Economic: Voluntary Carbon Market
2. Social: App
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Baselines and Performance Benchmarks for
3/5: VOLUNTARY CARBON MARKETS
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Voluntary Carbon Market Projects
1. Projects reduce CO2 emissions
2. Standard organizations verify reductionsand award carbon offset credits
3. Credits are sold at market prices
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Voluntary Carbon Market Projects
Two ways to verify emission reductions:
• Project Baselines
• Performance Benchmarks
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Baseline
Emis
sion
s (C
O 2)
Offset
VoluntaryProject
BaselineProject
Voluntary Market
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Baseline Method
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Baseline
Emis
sion
s (C
O 2)
Offset
VoluntaryProject
BaselineProject
Voluntary Market
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Baseline Method
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Baseline
Cap
Emis
sion
s (C
O 2)
ForSale
VoluntaryProject
NormalProject
BaselineProject
Voluntary Market Organizations with Emission Cap Goals
Actual Emissions
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Baseline Method
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Baseline Method
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Baseline Method
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Many projectsare different sizesbut technically similar.
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How can wecapitalize on theirsimilarities?
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We can compare different size projects with arate – a performance benchmark:CO2 / Project Factor
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Project Baseline vs Performance Benchmark
ProjectBaseline
Emis
sion
s (C
O 2)
PerformanceBenchmark
Emis
sion
s (C
O 2) /
Pro
ject
Fac
tor
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Project Baseline
Calculate CO2 emissions for twoscenarios and their difference
Performance Benchmark
Calculate CO2 for one scenario, and compare it to a benchmark rate: CO2
/ project factor
Project Baseline vs Performance Benchmark
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Project Baseline
• For unique projects
• Not scalable
• Expensive to justify the business as usual case
Performance Benchmark
• For similar projects
• Scalable
• Predefined business as usual case: CO2 / project factor
Project Baseline vs Performance Benchmark
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4/5: PAVEMENT PERFORMANCE BENCHMARK
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16HMA Plants
(Maryland)
HMA Study
16Placement Projects(Maryland and Virginia)
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HMA Emission Categories
Raw Materials
Mix Plant
Hauling
+ Installation
Project Emissions
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Raw Materials36%
Mix Plant11%Hauling
10%
Installation43%
HMA Emission Categories
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CategoryEmissions(kg-CO2e/t)
Raw Materials 54
Mix Plant 17
Hauling 15
Installation 64
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0
5
10
15
20
25
30
35
<110 110-125 125-140 140-155 >155
Fre
qu
en
cy
Emissions (kg-CO2e / t)
HMA Emission Distribution
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HMA Performance Benchmark
ProjectType
Hauling Distance(miles)
Benchmark(kg-CO2e/t)
Parking Lot ≤ 40 121.9
Parking Lot > 40 142.4
Road Any 102.9
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Traditional Project Offset Project
Same Sub-Base
Same Granular Base
Directly replacing HMA withall FSB lowers structuralperformance and provides apoor surface layer.
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Structural Performance Adjustment
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Traditional Project Offset Project
Same Sub-Base
Same Granular Base
Replacing HMA with an FSBlayer and a small HMAsurface layer yields an equalstructural performace that is2% heavier and 25% thicker.
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Structural Performance Adjustment
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FSB Emission Reductions
With the 2% structural performance adjustment:
HMA benchmark
121.9 kg-CO2e/t:
Cold Central Plant Recycling (CPPR)
78.4 kg-CO2e/t
36% Reduction
Cold In-Place Recycling (CIR)
23.3 kg-CO2e/t
81% Reduction
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0
20
40
60
80
100
120
140
HMA Benchmark CCPR CIR
Em
issi
on
s (k
g-C
O2e
/t)
2% Performance Adjustment
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CCPR Total Savings
material savings
+ offset savings
= total ($/t-material)
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CCPR Material Savings (Installed)
HMA 110
FSB 90
Savings 20 ($/t-material)
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CCPR Offset Savings
HMA Benchmark 121.9
Adjusted FSB 78.4
Savings 43.5 kg-CO2e/t-material
At a market rate of $9.30 / 1,000 kg-CO2e:
Savings: 0.4 ($/t-material)
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CCPR Total Savings
material savings
+ offset savings
= total ($/t-material)
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CCPR Total Savings
$20/t material savings
+ $0.4/t offset savings
= $20.4/t ($/t material)
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CCPR Contractor Profits
$0.4 offset savings < $20 material savings
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CCPR Contractor Profits
$0.4 offset savings < $20 material savings
If a contractor
1. Purchases FSB at $25/t (FOB, material only)
2. Sells it for a 10% profit margin ($2.5)
3. Carbon offset savings ($0.4/t) raise profits 16%
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5/5: CONCLUSIONS
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• Performance benchmarks developed in this study may be used with or without FSB
• FSB projects generate ~43.5 kg-CO2e/t carbon offset credits
Conclusions
• Replacing HMA with FSB yields ~$20.4/t in savings
• $0.4/t in offset credits can increase contractor material profits (~16%)
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• Approve methods
• Launch app
What’s Next
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QUESTIONS?
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These didn’t make my presentation, but might be helpful in answering your questions
BACK UP SLIDES
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Baseline
Emis
sion
s (C
O 2)
Offset
VoluntaryProject
BaselineProject
Voluntary Market
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Non-Additionality
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Baseline
NewBaseline
Emis
sion
s (C
O 2)
“Non-Additional Offset”
Offset
VoluntaryProject
NewBaselineProject
Voluntary Market
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Non-Additionality
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HMA Greenhouse Gases and Air Pollutants
Carbon Dioxide (CO2)
Sulfur dioxide (SO2)
Nitrogen oxide (NOx)
Carbon monoxide (CO)
Volatile organic compounds (VOC)
Volatile hazardous air pollutant (HAP)EPA 2009