Optimal climate policy is studied in a Ramsey growth model with exhaustible oil reserves, an infinitelyelastic supply of renewables, stock-dependent oil extraction costs and convex climate damages. Weconcentrate on economies with an initial capital stock below that of the steady state of the...

By reducing the demand for fossil fuels, climate policy can reduce scarcity rents for fossil resource owners. As mitigation policies ultimately aim to limit emissions, a new scarcity for “space” in the atmosphere to deposit emissions is created. The associated scarcity rent, or climate rent...

We analyze the role of electricity storage for technological innovations in electricity generation. We propose a directed technological change model of the electricity sector, where innovative firms develop better electricity storage solutions, which affect not only the relative competitiveness...

This contribution illustrates some unresolved issues and tensions that characterize the way the WTO deals with renewable energy subsidies. Indeed, the indisputable urgency to address the negative impacts of climate change on the one hand, and the use of subsidies to boost and support a...

Renewable energy subsidies are crucial for combatting climate change, and yet the world’s international legal infrastructure is not designed to accommodate such subsidies. The world needs a renewable energy sector to develop and implement the technologies necessary to reduce carbon and...

Levelized cost is the preferred method of evaluating various energy technologies. Yet this ubiquitous technique is rarely questioned, and its history is poorly understood. This paper traces the history of levelized cost as a method and highlights its promise and pitfalls. The levelized cost of...

Global regulations involving clean energy technologies have evolved in recent decades. Such evolution came as a result of technological disparities between the North and the South. Such regulatory changes came because of the failure of developed nations to assist developing countries in...

Africa, abundant in natural resources, faces growth challenges due to widespread energy poverty and heightened biofuel use with severe environmental impacts. Recognizing the connection between energy consumption and climate change is crucial for implementing sustainable solutions and...