Femkemilene
commented
2 months ago BNEF might not be the best source here, as it's forward-looking. That is, if you built coal now it may be retired early because of Paris, but existing coal takes longer to retire. For isntance, this Nature paper says it's 46 years on average: https://www.nature.com/articles/s41467-019-12618-3.
If/when we include premature retirement based on costs, we might be able to get a lower de-facto lifetime when that makes economic sense.
Let's keep as is.
From the BNEF data, it seems that the typical lifetime of coal and gas-fired power plants is often lower than the 40 years we give it. For instance, coal in China has a lifetime of 25 years, and 30 in India. The typical lifetime of CCGT is 25 years (30 years in our model), even though some countries have a lifetime of 35 years for the technology.