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The Value of ITC under Climate Stabilization

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  • Reyer Gerlagh

    (IVM/VU)

Abstract

We assess the effect of ITC in a global growth model, DEMETER-1CCS, with learning by doing where energy savings, an energy transition, and carbon capturing and sequestration (CCS) are the main options for emissions reductions. The model accounts for technology based on learning by doing embodied in capital installed in previous periods. We have run five scenarios, one baseline scenario in which climate change policy is assumed absent, and four stabilization scenarios in which atmospheric CO2 concentrations are stabilized at 550, 500, 450, and 400 ppmv. We find that the timing of emission reductions and the investment strategy is relatively independent of the endogeneity of technological change. The vintages structure of production is more important. But ITC reduces costs by about factor 2, though these benefits only materialize after some decades.

Suggested Citation

  • Reyer Gerlagh, 2005. "The Value of ITC under Climate Stabilization," Working Papers 2005.126, Fondazione Eni Enrico Mattei.
  • Handle: RePEc:fem:femwpa:2005.126
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    Cited by:

    1. Nicola Cantore & Emilio Padilla, 2007. "Equity and CO2 Emissions Distribution in Climate Change Integrated Assessment," Working Papers wpdea0705, Department of Applied Economics at Universitat Autonoma of Barcelona.
    2. Cantore, Nicola & Padilla, Emilio, 2010. "Equality and CO2 emissions distribution in climate change integrated assessment modelling," Energy, Elsevier, vol. 35(1), pages 298-313.

    More about this item

    Keywords

    Energy; Carbon taxes; Endogenous technological change; Niche markets;

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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