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Cutting Costs of Catching Carbon
Intertemporal effects under imperfect climate policy
By Hoel, M. og S. Jensen
2010
Discussion Papers No. 639
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Abstract |
We use a two-period model to investigate intertemporal effects of cost reductions in climate change
mitigation technologies for the power sector. With imperfect climate policies, cost reductions related
to carbon capture and storage (CCS) may be more desirable than comparable cost reductions
related to renewable energy. The finding rests on the incentives fossil resource owners face. With
regulations of emissions only in the future, cheaper renewables speed up extraction (the `green
paradox'), whereas CCS cost reductions make fossil resources more attractive for future use and
lead to postponement of extraction. |
| JEL Classification:
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Q30, Q42, Q54 |
| Keywords:
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climate change, exhaustible resources, carbon capture and storage, renewable energy,
green paradox |
| Project:
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3162 Petroleum industry research in economics and economic management
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