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Energy R&D Investments and Emissions Abatement Policy

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  • Di Yin and Youngho Chang

Abstract

The study examines the interactions of the energy R&D investments and the CO2 abatement policy using an endogenous energy R&D climate-economy model. Energy R&D investments affect the carbon emissions directly through efficiency improvements and indirectly by changing the comparative advantages of resources. This study considers the R&D investments in energy efficiency and low-carbon technology and explores how energy R&D investments accelerate the energy transition from fossil fuels to low-carbon technology. Three policies of carbon abatements are considered, namely, the optimal policy, the 2 C policy, and the 1.5 C policy. From the perspectives of benefits and costs, the optimal policy leads to the least abatement costs compared to the other two abatement policies. This study indicates that the more restrictive the abatement policy is, the more severe economic damage is caused in the short run, but more economic welfare is gained in the long run.

Suggested Citation

  • Di Yin and Youngho Chang, 2020. "Energy R&D Investments and Emissions Abatement Policy," The Energy Journal, International Association for Energy Economics, vol. 0(Number 6), pages 133-156.
    • Handle: RePEc:aen:journl:ej41-6-chang
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    Cited by:

    1. Yang, Zikun & Zhang, Mingming & Liu, Liyun & Zhou, Dequn, 2022. "Can renewable energy investment reduce carbon dioxide emissions? Evidence from scale and structure," Energy Economics, Elsevier, vol. 112(C).
    2. Liao, Hua & Ye, Huiying, 2023. "Endogenous economic structure, climate change, and the optimal abatement path," Structural Change and Economic Dynamics, Elsevier, vol. 65(C), pages 417-429.

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