Owing to increased energy consumption, the growth of various sectors of economies has the tendency to increase carbon dioxide emissions, a major component of greenhouse gases that causes climate change and global warming. A suggested panacea is to increase the development and usage of renewable...

We fit CES and VES production functions to data from a numerical bottom-up optimization model of electricity supply with clean and dirty inputs. This approach allows for studying high shares of clean energy not observable today and for isolating mechanisms that impact the elasticity of...