Well,
This is what happens with wire temperature ratings.
The actual amount of current carried is fixed by the cross-sectional area of the wire.
What are the types of wire and their common usage
House wire is typically THHN -
- course stranded and not very bendable
- Sheath is typically vinyl
- Most times it is pure copper but aluminum is available.
- Usually rated at 90c or less.
Automotive wire -
- It is about twice as fine as THHN and more bendable
- Sheath is a mix of vinyl and other coatings to resist chemicals
- Good ones are made from copper strands that are tinned then combined into the wire.
- Most are just copper strands and the really cheap ones are CCA (copper clad aluminum.
- Usually 105 or...
The strand count affect heating and cooling... i.e. the ability of the heat generated in the copper wire to get away from the wire and disipate in the air.
The sheath rating means it can stand up to a certain amount of heating before it breaks down. The problem is you have to make sure everything that touches it can handle the heat it generates.
The last bit is why I generally use the NEC 60c chart to size the wires - I know if I put that current through the wires they won't ever get hot enough to cause a problem. I also know I have wiggle room if I use one size smaller with a higher temperature rating I am still good.
So, yeah you can use 50cm^2 wire - but it WILL get quite a bit hotter than the 4/0 and because it has higher resistance per foot it will respond slower when there is a surge in demand. But will that extra heat cause you a problem? If you only plan to run at 50% capcacity then probably not. The occassional surge to full capacity will warm it up, but that takes time and it cools off.
And part of the rating depends on if it is in open air, conduit, wire way, enclosed box.... if the heat can't get out go bigger and generate less heat.
I know that isn't a clear answer of yes or know, but you need to decide based on your situation - the rules are there to keep the person that doesn't understand or the contractor that wants to cut corners from causing problems....