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  Optimal international technology cooperation for the low-carbon transformation

Schultes, A., Leimbach, M., Luderer, G., Pietzcker, R. C., Baumstark, L., Bauer, N., Kriegler, E., Edenhofer, O. (2018): Optimal international technology cooperation for the low-carbon transformation. - Climate Policy, 18, 9, 1165-1176.
https://doi.org/10.1080/14693062.2017.1409190

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 Creators:
Schultes, Anselm1, Author              
Leimbach, Marian1, Author              
Luderer, Gunnar1, Author              
Pietzcker, Robert C.1, Author              
Baumstark, Lavinia1, Author              
Bauer, Nicolas1, Author              
Kriegler, Elmar1, Author              
Edenhofer, Ottmar1, Author              
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1Potsdam Institute for Climate Impact Research, ou_persistent13              

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 Abstract: Research on low-carbon transformation pathways has focused on carbon pricing as a means for climate stabilization. By contrast, technology policies remain the more prominent national climate policy instruments today: renewable energy subsidies amount to more than US$100 billion per year globally – more than twice the value of priced carbon in 2016. Given technology spillovers and global learning effects, it remains unclear how technology policies can be coordinated internationally as part of climate stabilization policy. Our study is the first to derive optimal technology and climate policy for the 2∘C target using an energy-economy-climate model. We show an economic rationale to include an international technology protocol alongside carbon pricing: Cumulative low-carbon subsidies of more than US$1 trillion from 2020 until the end of the century mainly support solar power as well as electric- and hydrogen-powered passenger vehicles. Higher carbon pricing could replace subsidies at very low cost, but mitigation cost increases from delayed carbon pricing can be reduced only somewhat by stepping up subsidies. Our study suggests that existing low-carbon subsidies must be complemented by full carbon pricing to achieve 2∘C cost-efficiently: Alongside the optimal carbon price, low-carbon subsidies should amount to no more than ∼6% of the value of priced carbon.

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 Dates: 2018
 Publication Status: Finally published
 Pages: -
 Publishing info: -
 Table of Contents: -
 Rev. Type: Peer
 Identifiers: DOI: 10.1080/14693062.2017.1409190
PIKDOMAIN: Sustainable Solutions - Research Domain III
eDoc: 7826
Research topic keyword: Climate Policy
Research topic keyword: Economics
Research topic keyword: Carbon Pricing
Research topic keyword: Mitigation
Research topic keyword: Energy
Model / method: REMIND
Regional keyword: Global
Organisational keyword: RD3 - Transformation Pathways
Organisational keyword: Director Edenhofer
Working Group: Energy Systems
Working Group: Macroeconomic modeling of climate change mitigation and impacts
Working Group: Research Software Engineering for Transformation Pathways
 Degree: -

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Title: Climate Policy
Source Genre: Journal, SCI, Scopus
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Pages: - Volume / Issue: 18 (9) Sequence Number: - Start / End Page: 1165 - 1176 Identifier: Other: Taylor & Francis
Other: 1752-7457
ISSN: 1469-3062
CoNE: https://publications.pik-potsdam.de/cone/journals/resource/climate-policy