Geoscience Reference
In-Depth Information
For example, a special issue of
Energy Economics
in 2011 examined in some detail the
economics of technology development and deployment to combat climate change. The
issue stressed the necessity of rapid technological change if the rate of climate change is
to be moderated.
c) Efects of climate change responses on energy prices.
Efects of climate change responses
on energy prices, especially climate policies to promote greenhouse gas emission reduc-
tion, have been a focus of considerable debate and associated analysis. A major stimulus
has been the series of proposals for climate policy legislation before the U.S. Congress,
such as the Low Carbon Economy Act of 2007 (Bingaman-Specter), the Climate Steward-
ship Act of 2008 (Lieberman-Warner), the Clean Energy Jobs and American Power Act of
2009, the American Clean Energy and Security Act of 2009 (Waxman-Markey), and the
American Power Act of 2010, where impacts on electricity prices are a leading issue: e.g.,
(CBO, 2009). Proposed actions by state governments have also generated economic im-
pact analyses, as have discussions of such energy technology options as carbon capture
and storage and such energy policy options as renewable energy portfolio standards
(e.g., NRC, 2009 and 2010). Also see the NRC, 2009, report on
Hidden Costs of Energy:
Unpriced Consequences of Energy Production and Use.
One continuing theme is that, for the
longer term, price efects of energy eiciency improvements and energy supply technol-
ogy shifts depend considerably on success with technological innovation - a theme that
dates back to DOE laboratory studies in the late 1990s.
C. Assessment Findings
Regarding implications for components of energy supply systems and cross-cuting im-
plications for energy supply and use, we ind that:
Implications for components of the nation's energy supply and use systems
• In most cases, the major current risk for both supply and use is from episodic
disruptions related to extreme weather events
See Section III B, 1, 2
High consensus, strong evidence
• Impacts from weather phenomena associated with climate change pose risks of
economic costs to energy suppliers and users
High consensus, moderate evidence
SeeSectionIIIA,B
• Increases in average temperatures and temperature extremes will mean
increasing demand for electricity for cooling in every US region, along with
reductions in energy demands for space heating
High consensus, strong evidence
SeeSectionIIIA1,2,8
