Energy efficiency, innovation, and job creation in California
AbstractGlobal climate change poses significant risks to the California economy. Recognizing and responding to these threats, Governor Schwarzenegger signed Executive Order #S-3-05 (Schwarzenegger 2005) which called for a 30 percent reduction below business-as-usual of greenhouse gas emissions by 2020 and 80 percent below 1990 levels by 2050. In September 2006, the California legislature passed and Governor Schwarzenegger signed into law the historic Global Warming Solutions Act (AB 32), which mandates a first-in-the-nation limit on emissions that cause global warming. In June 2006, the California Air Resources Board (CARB) released a Ã¢â¬ÅDraft Scoping PlanÃ¢â¬ Ã¢â¬â the policy roadmap to meet the emissions reduction target of 169 Million Metric Tons of Carbon (MMTCO2) equivalent by 2020 to stabilize at 427 MMTCO2 overall. The CARB board will take up final adoption of this plan in December 2008. During the months leading up to this decision, a financial crisis of global proportions is unfolding. The state, nation and world are caught in serial market failures sparked by the collapse of the housing credit market, and there is much speculation about the impact of declining capital gains revenue on the state budget. Against this backdrop, Energy Efficiency, Innovation, and Job Creation in California analyses the economic impact of CARBÃ¢â¬â¢s past and future policies to reduce fossil fuel generated energy demand. CaliforniaÃ¢â¬â¢s achievements in energy efficiency over the last generation are well known, but evidence about their deeper economic implications remains weak. This study examines the economy-wide employment effects of the stateÃ¢â¬â¢s landmark efficiency policies over the last thirty-five years, and forecasts the economic effects of significantly more aggressive policies proposed to reduce emissions to 1990 levels by 2020.
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Bibliographic InfoPaper provided by University of California at Berkeley, Department of Agricultural and Resource Economics and Policy in its series CUDARE Working Paper Series with number 1069.
Length: 82 pages
Date of creation: 2008
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Postal: University of California, Giannini Foundation of Agricultural Economics Library, 248 Giannini Hall #3310, Berkeley CA 94720-3310
Other versions of this item:
- Roland-Holst, David, 2008. "Energy efficiency, innovation, and job creation in California," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt7qz3b977, Department of Agricultural & Resource Economics, UC Berkeley.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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