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Accelerating the development and diffusion of new energy technologies: Beyond the "valley of death"

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  • Weyant, John P.
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    Abstract

    There are at least three motivations for government intervention in GHG mitigation: (1) inducing the private sector to reduce GHG emissions directly by setting a price on emissions, (2) increasing the amount of innovative activity in GHG mitigation technology development, and (3) educating the public regarding GHG-reducing investment opportunities, allowing consumers to make better private decisions. This paper discusses the pros and cons of policy instruments that might be used to respond to these motivations and makes recommendations for an appropriate mix of policy instruments over time given both economic and policital/instituional considerations.

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    Bibliographic Info

    Article provided by Elsevier in its journal Energy Economics.

    Volume (Year): 33 (2011)
    Issue (Month): 4 (July)
    Pages: 674-682

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    Handle: RePEc:eee:eneeco:v:33:y:2011:i:4:p:674-682

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    Web page: http://www.elsevier.com/locate/eneco

    Related research

    Keywords: New Technology Development Technological Change Welfare Economics The Economics of Innovation New Product Diffusion;

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    1. Mansfield, Edwin, et al, 1977. "Social and Private Rates of Return from Industrial Innovations," The Quarterly Journal of Economics, MIT Press, vol. 91(2), pages 221-40, May.
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    8. Loury, Glenn C, 1979. "Market Structure and Innovation," The Quarterly Journal of Economics, MIT Press, vol. 93(3), pages 395-410, August.
    9. Richels, Richard G. & Blanford, Geoffrey J., 2008. "The value of technological advance in decarbonizing the U.S. economy," Energy Economics, Elsevier, vol. 30(6), pages 2930-2946, November.
    10. Lee, Tom & Wilde, Louis L, 1980. "Market Structure and Innovation: A Reformulation," The Quarterly Journal of Economics, MIT Press, vol. 94(2), pages 429-36, March.
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    Cited by:
    1. Anna Kowalska-Pyzalska & Katarzyna Maciejowska & Katarzyna Sznajd-Weron & Rafal Weron, 2013. "Going green: Agent-based modeling of the diffusion of dynamic electricity tariffs," HSC Research Reports HSC/13/05, Hugo Steinhaus Center, Wroclaw University of Technology.
    2. Wei Jin & ZhongXiang Zhang, 2014. "Explaining the Slow Pace of Energy Technological Innovation: Why Market Conditions Matter," CCEP Working Papers 1401, Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University.
    3. Kowalska-Pyzalska, Anna & Maciejowska, Katarzyna & Suszczyński, Karol & Sznajd-Weron, Katarzyna & Weron, Rafał, 2014. "Turning green: Agent-based modeling of the adoption of dynamic electricity tariffs," Energy Policy, Elsevier, vol. 72(C), pages 164-174.
    4. Hervás Soriano, Fernando & Mulatero, Fulvio, 2011. "EU Research and Innovation (R&I) in renewable energies: The role of the Strategic Energy Technology Plan (SET-Plan)," Energy Policy, Elsevier, vol. 39(6), pages 3582-3590, June.
    5. Anadón, Laura Díaz, 2012. "Missions-oriented RD&D institutions in energy between 2000 and 2010: A comparative analysis of China, the United Kingdom, and the United States," Research Policy, Elsevier, vol. 41(10), pages 1742-1756.
    6. Ruester, Sophia & Schwenen, Sebastian & Finger, Matthias & Glachant, Jean-Michel, 2014. "A post-2020 EU energy technology policy: Revisiting the strategic energy technology plan," Energy Policy, Elsevier, vol. 66(C), pages 209-217.
    7. Aalbers, Rob & Shestalova, Victoria & Kocsis, Viktória, 2013. "Innovation policy for directing technical change in the power sector," Energy Policy, Elsevier, vol. 63(C), pages 1240-1250.
    8. Piotr Przybyła & Katarzyna Sznajd-Weron & Rafał Weron, 2014. "Diffusion Of Innovation Within An Agent-Based Model: Spinsons, Independence And Advertising," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 17(01), pages 1450004-1-1.
    9. Leete, Simeon & Xu, Jingjing & Wheeler, David, 2013. "Investment barriers and incentives for marine renewable energy in the UK: An analysis of investor preferences," Energy Policy, Elsevier, vol. 60(C), pages 866-875.
    10. Sadorsky, Perry, 2012. "Correlations and volatility spillovers between oil prices and the stock prices of clean energy and technology companies," Energy Economics, Elsevier, vol. 34(1), pages 248-255.
    11. Pottier, Antonin & Hourcade, Jean-Charles & Espagne, Etienne, 2014. "Modelling the redirection of technical change: The pitfalls of incorporeal visions of the economy," Energy Economics, Elsevier, vol. 42(C), pages 213-218.

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