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This paper studies the optimal transition from existing coal power plants to gas and renewable power under a carbon budget. It solves a model of polluting, exhaustible resources with capacity constraints and adjustment costs (to build coal, gas, and renewable power plants). It finds that optimal investment in renewable energy may start before coal power has been phased out and even before investment in gas has started, because doing so allows for smoothing investment over time and reduces adjustment costs. Gas plants may be used to reduce short-term investment in renewable power and associated costs, but must eventually be phased out to allow room for carbon-free power. One risk for myopic agents comparing gas and renewable investment is thus to overestimate the lifetime of gas plants-e.g., when computing the levelized cost of electricity-and be biased against renewable power. These analytical results are quantified with numerical simulations of the European Commission's 2050 energy roadmap.

Carbon Policy and Trading --- Climate Change Mitigation --- Climate Change Mitigation and Green House Gases --- Dynamic Efficiency --- Early-Scrapping --- Energy --- Energy and Environment --- Energy Production and Transportation --- Environment --- Environment and Energy Efficiency --- Investment --- Optimal Timing --- Path Dependence --- Resource Extraction

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This collection represents successful invited submissions from the papers presented at the 8th Annual Conference of Energy Economics and Management held in Beijing, China, 22–24 September 2017. With over 500 participants, the conference was co-hosted by the Management Science Department of National Natural Science Foundation of China, the Chinese Society of Energy Economics and Management, and Renmin University of China on the subject area of “Energy Transition of China: Opportunities and Challenges”. The major strategies to transform the energy system of China to a sustainable model include energy/economic structure adjustment, resource conservation, and technology innovation. Accordingly, the conference and its associated publications encourage research to address the major issues faced in supporting the energy transition of China. Papers published in this collection cover the broad spectrum of energy economics issues, including building energy efficiency, industrial energy demand, public policies to promote new energy technologies, power system control technology, emission reduction policies in energy-intensive industries, emission measurements of cities, energy price movement, and the impact of new energy vehicle.

carbon emission --- coal supply chain --- damping controllers --- recurrence interval analysis --- panel data approach --- emission reduction mechanism research --- rural area --- asymmetry --- FACTS devices --- coordinated control --- China --- bioenergy technology --- SWOT analysis --- inter-regional product yield selection --- electricity fluctuation --- mining city --- Gompertz model --- a two-stage dynamic game --- corn market --- risk estimation --- wide-area measurement system --- robustness --- dynamic efficiency of public policy --- fuel demand --- time delay --- whole process --- China’s iron and steel industry --- building energy efficiency --- strategic planning --- vehicle ownership --- crude oil market --- export performance --- price discovery

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A compelling argument for solving the global climate crisis through local partnerships and experimentationGlobal climate diplomacy—from the Kyoto Protocol to the Paris Agreement—is not working. Despite decades of sustained negotiations by world leaders, the climate crisis continues to worsen. The solution is within our grasp—but we will not achieve it through top-down global treaties or grand bargains among nations.Charles Sabel and David Victor explain why the profound transformations needed for deep cuts in emissions must arise locally, with government and business working together to experiment with new technologies, quickly learn the best solutions, and spread that information globally. Sabel and Victor show how some of the most iconic successes in environmental policy were products of this experimentalist approach to problem solving, such as the Montreal Protocol on the ozone layer, the rise of electric vehicles, and Europe’s success in controlling water pollution. They argue that the Paris Agreement is at best an umbrella under which local experimentation can push the technological frontier and help societies around the world learn how to deploy the technologies and policies needed to tackle this daunting global problem.A visionary book that fundamentally reorients our thinking about the climate crisis, Fixing the Climate is a road map to institutional design that can finally lead to self-sustaining reductions in emissions that years of global diplomacy have failed to deliver. "Solving the global climate crisis through local partnerships and experimentation Global climate diplomacy--from the Kyoto Protocol to the Paris Agreement--is not working. Despite decades of sustained negotiations by world leaders, the climate crisis continues to worsen. The solution is within our grasp--but we will not achieve it through top-down global treaties or grand bargains among nations. Charles Sabel and David Victor explain why the profound transformations needed for deep cuts in emissions must arise locally, with government and business working together to experiment with new technologies, quickly learn the best solutions, and spread that information globally. Sabel and Victor show how some of the most iconic successes in environmental policy were products of this experimentalist approach to problem solving, such as the Montreal Protocol on the ozone layer, the rise of electric vehicles, and Europe's success in controlling water pollution. They argue that the Paris Agreement is at best an umbrella under which local experimentation can push the technological frontier and help societies around the world learn how to deploy the technologies and policies needed to tackle this daunting global problem. A visionary book that fundamentally reorients our thinking about the climate crisis, Fixing the Climate is a road map to institutional design that can finally lead to self-sustaining reductions in emissions that years of global diplomacy have failed to deliver." -- Publisher

Environmental policy --- Climatic changes --- environmental policy. --- climate change. --- international cooperation. --- pollution control measures. --- environmental impact. --- environmental protection. --- Kyoto Protocol. --- Il-Protokoll ta' Kyoto --- Protocole de Kyoto --- Kjótsky protokol --- Kyotski protokol --- Kioton pöytäkirja --- Protocolo de Quioto --- Protokolli i Kiotos --- Протокол од Кјото --- Kjótský protokol --- Prótacal Kyoto --- Kioto protokols --- Protocol van Kyoto --- Kyoto Protocol --- Kyoto protokoll --- Kyotoprotokollen --- πρωτόκολλο του Κυότο --- Protocolul de la Kyoto --- Kiotói Jegyzőkönyv --- Protocolo de Kyoto --- Kioto protokolas --- Протокол от Киото --- Kyotoprotokollet --- Protocollo di Kyoto --- Kjotski protokol --- protokół z Kioto --- Protocol van Kyoto bij het Raamverdrag van de Verenigde Naties inzake klimaatverandering --- Kjotski protokol k Okvirni konvenciji Združenih narodov o spremembi podnebja --- Kyotoprotokollet till Förenta nationernas ramkonvention om klimatförändringar --- Protocolo de Quioto à Convenção-Quadro das Nações Unidas sobre as Alterações Climáticas --- Kyotoprotokollet till FN:s klimatkonvention --- Kjótský protokol k Rámcové úmluvě Organizace spojených národů o změně klimatu --- Kiotói Jegyzőkönyv az Egyesült Nemzetek Éghajlat-változási Keretegyezményéhez --- Kyoto Protocol to the United Nations Framework Convention on Climate Change --- Protocolul de la Kyoto la Convenţia-cadru a Organizaţiei Naţiunilor Unite asupra schimbărilor climatice --- Protokol iz Kyota --- Kyotoprotokollen til De Forenede Nationers rammekonvention om klimaændringer --- Kjótsky protokol k Rámcovému dohovoru Organizácie Spojených národov o zmene klímy --- Protocollo di Kyoto alla convenzione quadro delle Nazioni Unite sui cambiamenti climatici --- πρωτόκολλο του Κιότο στη Σύμβαση-πλαίσιο των Ηνωμένων Εθνών για την αλλαγή του κλίματος --- Protokolli i Kiotos i Konventës Kuadër të Kombeve të Bashkuara për Ndryshimin e Klimës --- ilmastonmuutosta koskevan Yhdistyneiden Kansakuntien puitesopimuksen Kioton pöytäkirja --- Protokoll ta' Kjoto għall-Konvenzjoni Qafas tan-Nazzjonijiet Uniti dwar it-Tibdil fil-Klima --- Prótacal Kiótó a ghabhann le Coinbhinsiún Creatlaí na Náisiún Aontaithe ar an Athrú Aeráide --- ÜRO kliimamuutuste raamkonventsiooni Kyoto protokoll --- Apvienoto Nāciju Organizācijas Vispārējās konvencijas par klimata pārmaiņām Kioto protokols --- Jungtinių Tautų bendrosios klimato kaitos konvencijos Kioto protokolas --- Kyotoprotocol --- Protocole de Kyoto à la Convention-cadre des Nations unies sur les changements climatiques --- protokół z Kioto do Ramowej konwencji Narodów Zjednoczonych w sprawie zmian klimatu --- Protokoll von Kyoto zum Rahmenübereinkommen der Vereinten Nationen über Klimaänderungen --- Protocolo de Kyoto a la Convención Marco de las Naciones Unidas sobre el Cambio Climático --- ochrona środowiska --- προστασία του περιβάλλοντος --- keskkonnakaitse --- varstvo okolja --- protección del medio ambiente --- опазване на околната среда --- ympäristönsuojelu --- miljöskydd --- protecția mediului înconjurător --- vides aizsardzība --- mbrojtje e mjedisit --- cosaint an chomhshaoil --- Umweltschutz --- környezetvédelem --- protection de l'environnement --- milieubescherming --- aplinkos apsauga --- miljøbeskyttelse --- заштита на животната средина --- zaštita okoliša --- ochrana životného prostredia --- protezione dell'ambiente --- заштита животне средине --- proteção do ambiente --- protezzjoni ambjentali --- ochrana životního prostředí --- keskkonna säilitamine --- sauvegarde de l'environnement --- Naturschutz --- ochrana prírody --- protezione del patrimonio ambientale --- protecção do ambiente --- dabas aizsardzība --- konservim i natyrës --- proteção da natureza --- miljøbevarelse --- protection of nature --- protection de la nature --- očuvanje okoliša --- protección de la naturaleza --- tutela dell'ambiente --- a természeti környezet megőrzése --- naturskydd --- gamtosauga --- еколог --- заштита на природата --- conservation de la nature --- ruajtje e mjedisit --- natuurbehoud --- salvaguarda do ambiente --- gamtos apsauga --- miljövård --- διατήρηση του φυσικού περιβάλλοντος --- διαφύλαξη του περιβάλλοντος --- looduskaitse --- nature protection --- conservación del medio ambiente --- медиуми на животната средина --- a természet megőrzése --- προστασία της φύσης --- zachování životního prostředí --- luonnonsuojelu --- conservación de la naturaleza --- aplinkosauga --- természetmegőrzés --- conservation of nature --- protecția naturii --- екологист --- conservarea naturii --- vides saglabāšana --- természetvédelem --- bevarande av natur --- naturbeskyttelse --- Erhaltung der Natur --- preservation of the environment --- salvaguardia dell'ambiente --- ochrana/zachovanie prírody --- mbrojtje e natyrës --- conservação da natureza --- protezione della natura --- ochrana/zachovanie životného prostredia --- difesa dell'ambiente --- beskyttelse af naturen --- tutela ambientale ed ecologica --- zaštita prirode --- заштита околине --- naturvård --- dabas saglabāšana --- natuurbescherming --- Erhaltung der Umwelt --- difesa della natura --- prírodná ochrana --- udržení životního prostředí --- protezione ambientale --- zachování přírody --- ochrana přírody --- tutela del patrimonio naturale --- behoud van het milieu --- vliv na životní prostředí --- invloed op het milieu --- impatt ambjentali --- tionchar ar an gcomhshaol --- επίπτωση στο περιβάλλον --- влијание врз животната средина --- ndikim në mjedis --- vpliv na okolje --- impact sur l'environnement --- impacto ambiental --- ympäristövaikutus --- ietekme uz vidi --- környezeti hatás --- poveikis aplinkai --- utjecaj na okoliš --- miljöpåverkan --- impatto ambientale --- impact asupra mediului --- Auswirkung auf die Umwelt --- miljøindvirkning --- keskkonnamõju --- wpływ na środowisko --- ekologický dosah --- въздействие на околната среда --- утицај на животну средину --- balanço ecológico --- miljöavtryck --- ekoloģiskais novērtējums --- ekobalancë --- ecobalanço --- effetti sull'ambiente --- vides pēdas nospiedums --- keskkonnajalajälg --- mer --- miljökonsekvensbeskrivning --- ślad środowiskowy --- aplinkosauginis pėdsakas --- miljøopgørelse --- vlerësim ekologjik --- ekološka procjena --- huella ambiental --- miljøvurdering --- balance ecológico --- efect ambiental --- effet environnemental --- περιβαλλοντικό αποτύπωμα --- milieueffect --- vides novērtējums --- Umweltverträglichkeitsprüfung --- еколошки ефект --- miljøvirkning --- ökológiai mérleg --- écobilan --- milieuvoetafdruk --- ecological assessment --- efecto sobre el medio ambiente --- environmental assessment --- impronta ambientale --- vides ietekmēšana --- környezetihatás-tanulmány --- avaliação ambiental --- Verträglichkeitsprüfung --- ökológiai vizsgálat --- ekologinis balansas --- impronta ambjentali --- indvirkning på miljøet --- miljøbelastning --- bilanț ecologic --- effect on the environment --- conséquence sur l'environnement --- environmental footprint --- environmentálna stopa --- ecologische balans --- evaluare ecologică --- bilan écologique --- milieueffectrapport --- conséquence environnementale --- effekt på miljön --- Umweltwirkung --- efekt mjedisor --- miljöanalys --- еколошко влијание --- ympäristöarvio --- συνέπεια στο περιβάλλον --- mõju keskkonnale --- miljøaftryk --- effet sur l'environnement --- evaluación medioambiental --- valutazione dell'impatto ambientale --- επίδραση στο περιβάλλον --- Umweltimpakt --- bilancio ecologico --- оценка на влијанието врз животната средина --- environmental effect --- ekoloģiskā bilance --- ekologinis įvertinimas --- tionchar comhshaoil --- amprentă de mediu --- ökologische Bilanz --- efekti mbi mjedis --- οικολογικός ισολογισμός --- отпечатък върху околната среда --- okoljski odtis --- miljöbedömning --- ecobilancio --- empreinte environnementale --- eco-balance --- incidence environnementale --- lorg comhshaoil --- vaikutus ympäristöön --- environmentálny vplyv --- effett ambjentali --- incidence sur l'environnement --- efect asupra mediului --- konsekvenser for miljøet --- efeito no meio ambiente --- ekotase --- keskkonnamõju hindamine --- ympäristöjalanjälki --- Impaktstudie --- EIA --- virkning på miljøet --- vplyv na životné prostredie --- environmentální stopa --- Umweltbilanz --- ecobalance --- környezeti lábnyom --- pasqyrë ekologjike --- hodnocení vlivů na životní prostředí --- miljøstatus --- inverkan på miljön --- Umweltimpaktstudie --- évaluation environnementale --- ekologický vliv --- pegada ambiental --- evaluare de mediu --- aplinkos įvertinimas --- ecological balance sheet --- környezetihatás-vizsgálat --- keskkonnahinnang --- ekobilance --- ekologinen tase --- περιβαλλοντική αξιολόγηση --- vlerësim mjedisor --- ökotasakaal --- UVP --- Ökobilanz --- мерки за контрола на загадувањето --- контрол по замърсяване на околната среда --- măsuri pentru controlul poluării --- мере за контролу загађености --- masat e kontrollit të ndotjes --- mjere za kontrolu onečišćenja --- környezetszennyezés elleni küzdelem --- forureningsbekæmpelse --- saastetõrjemeede --- föroreningsbekämpning --- bearta rialaithe truaillithe --- walka z zanieczyszczeniem --- piesārņojuma kontroles pasākumi --- taršos kontrolės priemonės --- bestrijding van de verontreiniging --- opatrenia na kontrolu znečistenia --- luta contra a poluição --- lutte contre la pollution --- καταπολέμηση της ρύπανσης --- lucha contra la contaminación --- Bekämpfung der Umweltbelastungen --- miżuri ta' kontroll tat-tniġġis --- opatření na kontrolu znečištění --- lotta contro l'inquinamento --- ympäristöhaittojen torjunta --- ukrepi proti onesnaževanju --- szennyezés csökkentése --- snižování znečištění --- mjere za kontrolu zagađenja --- reduction of pollution --- forureningsbegrænsning --- taršos mažinimas --- vermindering van de milieuverontreiniging --- riduzione dell'inquinamento da polvere --- kova su tarša --- smanjenje onečićenja --- opatření na kontrolu škodlivin --- bekämpning av nedsmutsning --- monitorování znečištění --- мерки за намалување на загадувањето --- reducerea poluării --- μείωση της ρύπανσης --- ulje e ndotjes --- reostuse vähendamine --- opatření na kontrolu emisí --- poluição do litoral --- Verringerung der Umweltbelastungen --- piesārņojuma samazināšana --- környezetterhelés elleni küzdelem --- saastuttamisen vähentäminen --- redução da poluição --- minskning av förorening --- réduction de la pollution --- Schadstoffbekämpfung --- Bekämpfung der Umweltverschmutzung --- combate à poluição --- reostustõrjemeede --- környezetterhelés --- zníženie znečistenia --- riduzione dell'inquinamento --- reducción de la contaminación --- szennyezés elleni küzdelem --- měření znečištění --- rahvusvaheline koostöö --- меѓународна соработка --- nemzetközi együttműködés --- współpraca międzynarodowa --- cooperazione internazionale --- coopération internationale --- internationale Zusammenarbeit --- cooperare internațională --- internationale samenwerking --- medzinárodná spolupráca --- tarptautinis bendradarbiavimas --- kansainvälinen yhteistyö --- cooperação internacional --- международно сътрудничество --- internationellt samarbete --- bashkëpunim ndërkombëtar --- међународна сарадња --- mezinárodní spolupráce --- mednarodno sodelovanje --- internationalt samarbejde --- διεθνής συνεργασία --- međunarodna suradnja --- kooperazzjoni internazzjonali --- starptautiskā sadarbība --- cooperación internacional --- comhar idirnáisiúnta --- mezinárodní kooperace --- интернационална соработка --- internacionální kooperace --- spolupráce na mezinárodní úrovni --- internacionální spolupráce --- kaimiņvalstu sadarbība --- cambio climático --- klimatska promjena --- tibdil fil-klima --- промена климе --- klimatförändring --- alteração climática --- kliimamuutus --- sprememba podnebja --- климатска промена --- zmiany klimatyczne --- changement climatique --- промяна на климата --- cambiamento climatico --- schimbare climatică --- ndryshim klimaterik --- změna klimatu --- klimata maiņa --- éghajlatváltozás --- zmena podnebia --- klimato kaita --- athrú aeráide --- klimaatsverandering --- Klimaveränderung --- ilmastonmuutos --- klimaændring --- κλιματική αλλαγή --- az éghajlat változása --- modificación del clima --- klimatiskā izmaiņa --- промена на климата --- klimatická změna --- klimatická zmena --- climatic change --- schimbări climatice --- aplinkos politika --- vides politika --- milieubeleid --- Umweltpolitik --- keskkonnapoliitika --- política do ambiente --- екологична политика --- okoljska politika --- polityka ochrony środowiska --- politika ambjentali --- политика заштите животне средине --- politica mediului înconjurător --- politika životného prostredia --- környezetvédelmi politika --- miljöpolitik --- politique de l'environnement --- politika okoliša --- politica ambientale --- política de medio ambiente --- politikë mjedisore --- miljøpolitik --- beartas comhshaoil --- περιβαλλοντική πολιτική --- политика за животна средина --- ympäristöpolitiikka --- environmentální politika --- miljøstyring --- starostlivosť o životné prostredie --- gestion de l'environnement --- política medioambiental --- gestione dell'ambiente --- política ambiental --- ochrana a tvorba životního prostředí --- upravljanje okolišem --- politica dell'ambiente --- menaxhim mjedisor --- ympäristöjohtaminen --- vides apsaimniekošana --- környezetpolitika --- miljöförvaltning --- Umweltpflege --- διαχείριση του περιβάλλοντος --- gospodarenje okolišem --- managementul mediului --- környezetgazdálkodás --- a környezet gondozása --- politika ochrany životního prostředí --- keskkonnajuhtimine --- politika na ochranu životního prostředí --- péče o životní prostředí --- gestión del medio ambiente --- politica in materia di ambiente --- environmental management --- aplinkos valdymas --- Umweltschutzpolitik --- gestão do ambiente --- milieubeheer --- International cooperation. --- ARPA-E. --- Abatement Cost. --- Acid rain. --- Activism. --- Air pollution. --- Availability. --- Beyond the Limits. --- Business ethics. --- Carburetor. --- Cargo ship. --- Cattle. --- Cess. --- Civil aviation. --- Clean Air Act (United States). --- Clean Development Mechanism. --- Climate Change Agreement. --- Climate change. --- Collaboration. --- Collective action. --- Common-pool resource. --- Comparative advantage. --- Creative accounting. --- Curtailment. --- Customer. --- Cyber-attack. --- Decision-making. --- Deforestation. --- Deliberation. --- Developed country. --- Dynamic efficiency. --- Economic efficiency. --- Economic power. --- Electricity generation. --- Electricity. --- Emerging technologies. --- Emissions trading. --- Energy technology. --- Environmental issue. --- Environmental law. --- Environmentalism. --- Experiment. --- Externality. --- Fertilizer. --- Fraud. --- Funding. --- Global politics. --- Globalization. --- Governance. --- Granularity. --- Guarantee. --- Hydrogen vehicle. --- Implementation. --- Impossibility. --- Incentive. --- Income. --- Industrial policy. --- Informality. --- Information asymmetry. --- Innovation. --- Inspection. --- Institution. --- Interconnection. --- Interest. --- International Maritime Organization. --- Land Registry (United Kingdom). --- Member state. --- Military dictatorship. --- Montreal Protocol. --- National Acid Precipitation Assessment Program. --- Ownership. --- Ozone depletion. --- Pasture. --- Patent. --- Pollutant. --- Pollution. --- Procurement. --- Protectionism. --- Quality assurance. --- Quantity. --- Regulation. --- Renewable resource. --- Requirement. --- Scrubber. --- Second source. --- Skepticism. --- Slowdown. --- Supply chain. --- Sustainability. --- Technocracy. --- Technology. --- The Way Forward. --- Top-down and bottom-up design. --- Trade barrier. --- Treaty. --- Uncertainty. --- United Nations Environment Programme. --- United Nations Framework Convention on Climate Change. --- Vehicle. --- World Trade Organization. --- ENVIRONMENTAL POLICY--INTERNATIONAL COOPERATION --- CLIMATIC CHANGES--INTERNATIONAL COOPERATION