Environmental Engineering Reference
In-Depth Information
Table 1 Summarizing the claims and the replies
Number
The usual claim
The reply
1
A carbon price is all we need for
climate change mitigation
A carbon price is not enough. Comple-
mentary policies are needed, given the
existence of several market failures/
externalities. However, policy combina-
tions are not a panacea. They bring
problems of their own. They may lead to
policy interactions and con
icts (redun-
dancies, double coverage
…
)
2
Technology neutrality should be aimed
at
Technological neutrality is hardly
dynamically ef
cient
3
“
Best instruments
”
should be applied
Too abstract discussion on
“
which is the
best instrument
. In the RES-E policy
realm, design elements really make the
difference. Furthermore, since there are
several criteria, it is dif
cult to tell
whether one instrument scores well in all
criteria
”
4
Market-based deployment instruments
are superior
Quantity-based schemes are not neces-
sarily more
than
price-based ones. Complying with equi-
marginality does not necessarily lead to
a minimization of policy costs
“
market-oriented
”
5
R&D and deployment should be
combined
Practical difculties in nding the
appropriate balance between support for
R&D and support for deployment
6
The success of RES-E policies should
be analyzed according to the effec-
tiveness and cost-effectiveness criteria
Other criteria might be very relevant as
well
7
Strong emphasis on harmonization
versus subsidiarity of support schemes
in the EU
There are other more realistic interme-
diate alternatives: convergence, cooper-
ation and coordination of support
schemes
8
Security for investors and stability of
the support scheme should be pursued
Balance policy
exibility and stability
2.1 A Carbon Price Is All We Need for Climate Change
Mitigation
2.1.1 The Usual Claim
Drastic emissions reductions will be required in order to put the world economy on
an emissions concentration path which minimizes the risk of collapse of the climate
system. Generally, a 2
temperature increase above pre-industrial levels is deemed
compatible with this goal. In turn, this involves an emissions concentration level of
°
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