Electrification of transportation and buildings to reduce greenhouse gas (GHG) emissions requires massive switching from natural gas and refined petroleum products. All three end-use energy sources are mispriced due in part to the unpriced pollution they emit. Natural gas and electricity...

We categorize the primary incentive-based mechanisms under consideration for addressing greenhouse gas emissions from electricity generation--pricing carbon, setting intensity standards, and subsidizing clean energy--and compare their market outcomes under similar expansions of clean electricity...