IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v291y2024ics0360544224001968.html
   My bibliography  Save this article

Economy-wide impacts of socio-politically driven net-zero energy systems in europe

Author

Listed:
  • Mayer, Jakob
  • Süsser, Diana
  • Pickering, Bryn
  • Bachner, Gabriel
  • Sanvito, Francesco Davide

Abstract

Net-zero energy system configurations can be met in numerous ways, implying diverse economic effects. However, what is usually ignored in techno-economic and economy-wide analysis are the distinct social-political drivers and barriers, which might constrain certain elements of future energy systems. We thus apply a model ensemble that defines social-political storylines which constrain feasible net-zero configurations of the European energy system. Using these configurations in a macroeconomic general equilibrium model allows us to explore economy-wide effects and ultimately the cost-effectiveness of different systems. We find that social-political storylines provide valuable boundary conditions for feasible net-zero designs of the energy system and that the costliest energy sector configuration in fact leads to the highest European-wide welfare levels. This result originates in indirect effects, particularly positive employment effects, covered by the macroeconomic model. However, adverse public budget effects on the transition to net-zero energy may limit the willingness of policymakers who focus on shorter time-horizons to foster such a development. Our results highlight the relevance of considering the interaction of energy system-changes with labor, emission allowance and capital markets, as well as considering long-term perspectives.

Suggested Citation

  • Mayer, Jakob & Süsser, Diana & Pickering, Bryn & Bachner, Gabriel & Sanvito, Francesco Davide, 2024. "Economy-wide impacts of socio-politically driven net-zero energy systems in europe," Energy, Elsevier, vol. 291(C).
  • Handle: RePEc:eee:energy:v:291:y:2024:i:c:s0360544224001968
    DOI: 10.1016/j.energy.2024.130425
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544224001968
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.energy.2024.130425?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Binyet, Emmanuel & Hsu, Hsin-Wei, 2024. "Decarbonization strategies and achieving net-zero by 2050 in Taiwan: A study of independent power grid region," Technological Forecasting and Social Change, Elsevier, vol. 204(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:291:y:2024:i:c:s0360544224001968. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.