Deployment of Deep Decarbonization Technologies Proceedings of a Workshop (2019) / Chapter Skim
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9 Policy Drivers
9 Policy Drivers
Pages 78-88
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From page 78... ...
Costello is a former Congressman from Pennsylvania and the policy approach supported by American for Carbon Dividends is a center right solution to achieve substantial carbon dioxide emissions reductions. Costello highlighted the importance 78
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From page 79... ...
He quoted from the article: "A carbon tax would drive investment in new technologies and spur innovation both by providing a financial incentive to reduce emissions and by giving markets a steady price signal." Americans for Carbon Dividends proposes setting a carbon price at $43 per metric ton of carbon dioxide with gradual scheduled increases, generating the market certainty needed to make long-term investment decisions. All revenue generated by the program would be remitted to taxpayers, as any other use of these funds would be politically unpalatable, he said.
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From page 80... ...
He suggested various cross-cutting approaches to reducing emissions, including carbon pricing, technological innovation and financing large-scale projects. Gerrard stated that there are legal tools available to encourage decarbonzation in the United States besides regulation, and that these i tools would create economic, social, environmental, and security benefit in addition to reducing greenhouse gas emissions.
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From page 81... ...
Local municipalities are generally responsible for setting building and zoning codes, urban transportation and land use plans, have jurisdiction over distributed energy generation, could build EV charging infrastructure, and manage solid waste. To encourage implementation of their recommendations, Gerrard and his colleagues have launched a program seeking pro bono help from law firms to draft model laws and regulations based on these recommendations.
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From page 82... ...
She described a recent publication in which her group studied the observed effects of carbon pricing policies that were implemented in 44 jurisdictions worldwide to determine which design details mattered. Gallagher outlined a typology of climate mitigation policies, and pointed out the need for different types of policies working together to address climate change, including fiscal, regulatory, legal, information-based, diplomatic, and innovation policies.
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From page 83... ...
investors pay high interest rates for low carbon investments because of perceived financial risk, a direct consequence of policy instability. Other consequences of policy uncertainty include loss of technological leadership, knowledge depreciation, loss of green manufacturing capacity and related jobs, higher costs for steep emissions reductions required by continued delay, and higher costs due to ad hoc, redundant, contradictory, or fragmented policy approaches.
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From page 84... ...
Wagner, Policy sequencing toward decarbonization, Nature Energy 2:918-922, 2017, copyright 2017.
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From page 85... ...
In Maryland in 2006 the negotiated electricity price caps expired, doubling retail rates, but electricity use did not decrease. Another development that did make an impact was states implementing energy efficiency and renewable portfolio standards, which drove massive increases in renewable deployment and have flattened electricity demand in the United States, resulting in 20-25 percent reductions in electricity use with only a 2 percent increase in price.
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From page 86... ...
With respect to policy sequencing, Gallagher mentioned that power sector reform must occur during the early stages of the policy sequence. She mentioned that China has recently plateaued in non-fossil energy generation because they have not completed power sector reform.
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From page 87... ...
Costello mentioned that the phrase ublic p good can be elusive, as it will depend on the timeframe in question. G errard and Gallagher agreed that there is an enormous gap between the public good and our current public policy, as the United States has no coherent climate policy.
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