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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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    File URL: http://www.sciencedirect.com/science/article/pii/S0140988310001295
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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;

    References

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    1. Goulder, Lawrence H. & Mathai, Koshy, 2000. "Optimal CO2 Abatement in the Presence of Induced Technological Change," Journal of Environmental Economics and Management, Elsevier, vol. 39(1), pages 1-38, January.
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    5. 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.
    6. Jaffe Adam B. & Stavins Robert N., 1995. "Dynamic Incentives of Environmental Regulations: The Effects of Alternative Policy Instruments on Technology Diffusion," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages S43-S63, November.
    7. Kamien,Morton I. & Schwartz,Nancy L., 1982. "Market Structure and Innovation," Cambridge Books, Cambridge University Press, number 9780521293853, November.
    8. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc.
    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. Glenn C. Loury, 1976. "Market Structure and Innovation," Discussion Papers 256, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    11. Edward J Green & Robert H Porter, 1997. "Noncooperative Collusion Under Imperfect Price Information," Levine's Working Paper Archive 1147, David K. Levine.
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    Citations

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    Cited by:
    1. 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.
    2. 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.
    3. 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.
    4. Anna Kowalska-Pyzalska & Katarzyna Maciejowska & Katarzyna Sznajd-Weron & Karol Suszczynski & Rafal Weron, 2013. "Turning green: Agent-based modeling of the adoption of dynamic electricity tariffs," HSC Research Reports HSC/13/10, Hugo Steinhaus Center, Wroclaw University of Technology.
    5. 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.
    6. Piotr Przybyla & Katarzyna Sznajd-Weron & Rafal Weron, 2013. "Diffusion of innovation within an agent-based model: Spinsons, independence and advertising," HSC Research Reports HSC/13/04, Hugo Steinhaus Center, Wroclaw University of Technology.
    7. 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.
    8. 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.
    9. Wei Jin & ZhongXiang Zhang, 2014. "Explaining the Slow Pace of Energy Technological Innovation: Why Market Conditions Matter?," Working Papers 2014.18, Fondazione Eni Enrico Mattei.
    10. 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.

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