An Economic Perspective on Technological Transitions Related to Energy and Climate Change, with a Case Study of the UK
The paper discusses the concept of technological transitions and theories of how they might come about. It then relates this concept to current policy concerns about climate change and energy and presents research results about what a low-carbon energy system might look like and how it could be achieved. It then briefly explores the policy implications and possible macro-economic costs of moving to a low-carbon energy system. Technological transitions are relevant to climate change and energy because the energy system is a major technological system in society, and to reduce its carbon emissions dramatically, as is required if dangerous anthropogenic climate change is to be avoided, will require a full technological transition. There are many low-carbon technologies with the potential for large-scale deployment. Simulations suggest that the decarbonisation of the electricity system, involving any or all of carbon capture and storage, nuclear power and renewables, with increasing use of electricity in the residential and transport sectors, will be required. There may also be a role for bioenergy and hydrogen. In all cases strong public policies will be required to achieve large cuts in carbon emissions, involving carbon pricing, technology support and removing barriers to lifestyle and behaviour changes. Currently, while many different policies have been implemented, they have not been strongly enough applied to achieve sustained emissions reduction. Most models suggest that the macroeconomic costs of substantial cuts in carbon emissions are relatively small (1-4% GDP by 2050) compared to the costs of unabated climate change. However, the political costs of implementing the required policies may mean that politicians are unable in practice to prevent runaway climate change.
Volume (Year): (2010)
Issue (Month): 2 ()
|Contact details of provider:|| |
When requesting a correction, please mention this item's handle: RePEc:mul:jb33yl:doi:10.1428/32539:y:2010:i:2:p:247-276. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.