The first is a distinction between old and new capital - often described as a ‘putty-clay’ model. However, for new power plants, modest increases in capital expenditures can result in significant water savings, as one moves from open to closed loop systems and from wet to dry cooling technologies. Using the estimates taken from Bhattacharya and Bijon (2013), Figure 11 is created which shows a marginal cost of abatement schedule to which a CGE model could readily be calibrated.