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Technology Prizes for Climate Change Mitigation AgEcon
Newell, Richard G.; Wilson, Nathan E..
We analyze whether technology inducement prizes could be a useful complement to standard research grants and contracts in developing climate change mitigation technologies. We find that there are important conceptual advantages to using inducement prizes in certain circumstances. These conceptual inferences are borne out by an examination of the track record of prizes inducing research into public goods, including relevant energy technologies. However, we also find that the prizes' successes are contingent on their proper design. We analyze how several important design elements could influence the effectiveness of a climate technology prize.
Tipo: Working or Discussion Paper Palavras-chave: Inducement prize; Research and development; Climate change; Technology; Policy; Environmental Economics and Policy; Q28; D81; C68.
Ano: 2005 URL: http://purl.umn.edu/10698
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The Impact of Long-Term Generation Contracts on Valuation of Electricity Generating Assets under the Regional Greenhouse Gas Initiative AgEcon
Wilson, Nathan E.; Palmer, Karen L.; Burtraw, Dallas.
The Regional Greenhouse Gas Initiative is an effort by nine states to constrain carbon dioxide emissions from the electric power sector using a cap-and-trade program. This paper assesses the importance of long-term electricity contracts under the program. We find that 12.2% of generation will be accounted for by long-term contracts in 2010, affecting select nuclear, hydroelectric, and cogeneration units. The contracts will have a negligible effect on the wholesale marginal cost of electricity and a small effect on retail price. States may want to consider contracts on a case-by-case basis when making decisions about the initial distribution of emission allowances, but they should account for effects on the portfolio of plants owned at the firm level, not...
Tipo: Working or Discussion Paper Palavras-chave: Climate; State policy; Regional Greenhouse Gas Initiative; Long-term contracts; Electricity; Environmental Economics and Policy; Q54; Q58; L14; L94.
Ano: 2005 URL: http://purl.umn.edu/10556
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