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Social cost of CO 2 abatement from energy efficiency and solar power in the United States

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  • Darwin Hall

Abstract

Frequently cited empirical analyses ask whether we should make the transition from reliance on fossil fuels to reduce greenhouse gas emissions, and conclude that the transition is too costly so we should, instead, focus policy on how to adapt to global warming. This paper makes two improvements in the analysis. First, this empirical analysis accounts for existing low-cost alternatives that are substitutes for fossil fuels. Second, this empirical analysis incorporates existing estimates of externalities from fossil fuels. These two basic improvements in the analysis alter the conclusion; policy should focus on how rapidly and extensively to make the transition from reliance on fossil fuels to the alternatives. The corollary is that we should focus on the efficacy and cost of policy options that are designed to accomplish the transition. Copyright Kluwer Academic Publishers 1992

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  • Darwin Hall, 1992. "Social cost of CO 2 abatement from energy efficiency and solar power in the United States," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 2(5), pages 491-512, September.
    • Handle: RePEc:kap:enreec:v:2:y:1992:i:5:p:491-512
    DOI: 10.1007/BF00376831
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    References listed on IDEAS

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    1. Victor Brajer & Jane V. Hall & Robert Rowe, 1991. "The Value Of Cleaner Air: An Integrated Approach," Contemporary Economic Policy, Western Economic Association International, vol. 9(2), pages 81-91, April.
    2. Alan S. Manne & Richard G. Richels, 1991. "Global CO2 Emission Reductions -the Impacts of Rising Energy Costs," The Energy Journal, , vol. 12(1), pages 87-108, January.
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    6. Victor Brajer & Jane V. Hall & Robert Rowe, 1991. "The Value Of Cleaner Air: An Integrated Approach," Contemporary Economic Policy, Western Economic Association International, vol. 9(1), pages 81-91, January.
    7. Carmen Difglio & K.G. Duleep & David L. Green, 1990. "Cost Effectiveness of Future Fuel Economy Improvements," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 65-86.
    8. Hadi Dowlatabadi & Winston Harrington, 1990. "Uncertainty And The Cost Of Acid Rain Control," Contemporary Economic Policy, Western Economic Association International, vol. 8(3), pages 43-58, July.
    9. Schelling, Thomas C, 1992. "Some Economics of Global Warming," American Economic Review, American Economic Association, vol. 82(1), pages 1-14, March.
    10. GERALD R. BEMIS & MICHAEL DoANGELIS, 1990. "Levelized Cost Of Electricity Generation Technologies," Contemporary Economic Policy, Western Economic Association International, vol. 8(3), pages 200-214, July.
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    13. Robert H. Williams, 1990. "Low-Cost Strategies for Coping with CO2 Emission Limits (A Critique of "CO2 Emission Limits: an Economic Cost Analysis for the USA" by Alan Manne and Richard Richels)," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 35-60.
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    Cited by:

    1. Drennen, Thomas E. & Erickson, Jon D. & Chapman, Duane, 1993. "Solar Power and Climate Change Policy in Developing Countries," Staff Papers 121345, Cornell University, Department of Applied Economics and Management.

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