Energy, Climate, New Economic Thinking​

Why the low carbon transition may be much cheaper than models predict

To achieve net-zero emissions by mid-century, global energy systems must undergo a wholesale switch to low-carbon and energy-efficient technologies. However, many models used to chart this transition imply that there are benefits in delaying investment in these technologies, waiting instead for R&D to drive down costs over time. Our new paper in Environmental Research Letters draws on evidence from more than 200 journal articles and concludes that policies promoting such “induced innovation” have been a clear factor behind the remarkable success of low-carbon technologies. Carbon Brief