Arbeitspapier
Learning or lock-in: Optimal technology policies to support mitigation
We investigate conditions that aggravate market failures in energy innovations, and suggest optimal policy instruments to address them. Using an intertemporal general equilibrium model we show that 'small' market imperfections may trigger a several decades lasting dominance of an incumbent energy technology over a dynamically more efficient competitor, given that the technologies are very good substitutes. Such a 'lock-in' into an inferior technology causes significantly higher welfare losses than market failure alone, notably under ambitious mitigation targets. More than other innovative industries, energy markets are prone to these lock-ins because electricity from different technologies is an almost perfect substitute. To guide government intervention, we compare welfare-maximizing technology policies in addition to carbon pricing with regard to their efficiency, effectivity, and robustness. Technology quotas and feed-in-tariffs turn out to be only insignificantly less efficient than first-best subsidies and seem to be more robust against small perturbations.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 3422
- Klassifikation
-
Wirtschaft
Technological Change: Government Policy
Energy: General
Climate; Natural Disasters and Their Management; Global Warming
Environmental Economics: Technological Innovation
- Thema
-
renewable energy subsidy
renewable portfolio standard
feed-in-tariffs
carbon pricing
Förderung regenerativer Energien
Forschungs- und Technologiepolitik
Energietechnik
Klimaschutz
Technologiewahl
Ökosteuer
Energiesubstitution
Subvention
Policy-Mix
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kalkuhl, Matthias
Edenhofer, Ottmar
Lessmann, Kai
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Kalkuhl, Matthias
- Edenhofer, Ottmar
- Lessmann, Kai
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2011
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