Low-carbon production of steel ( a ), urea ( b ) and ethylene ( c ). Results are again shown for the four import cases illustrated in Fig. 3 and assume an electricity-price difference of 40 MWh -1 (medium-pull case from Table 1 ). The levelized costs visualize how the relocation savings in the steel value chain are smaller in comparison to the other value chains as a result of the high feedstock cost. Moreover, annualized CAPEX assumes a higher WACC of 8% in the RE-rich region compared to 5% in the RE-scarce region over a lifetime of 18 years, resulting in higher levelized capital cost, yet this effect appears to be small compared to the renewables pull. For a detailed composition, we encourage readers to view this figure in the online webapp or download the accompanying spreadsheet file (see 'Data availability').
