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Energy efficiency policies and the timing of action: An assessment of climate mitigation costs

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  • Bibas, Ruben
  • Méjean, Aurélie
  • Hamdi-Cherif, Meriem
Abstract
This paper assesses the sensitivity of climate change mitigation costs to energy efficiency policies, and gives policy insights for the timing of climate action. A hybrid general equilibrium model (Imaclim-R) is used to investigate numerically the interaction between technical change and economic growth. Energy efficiency in productive sectors lowers energy prices. Lower energy prices increase demand due to lower prices of non-energy goods and higher household revenues. Energy efficiency lowers the carbon price, shifting the emission constraint away from household energy consumption. Energy efficiency policies drive economic growth and reduce policy costs, but only if energy efficiency policies in industrialised regions are combined with measures to accelerate technology transfers towards other regions. The timing of efforts reveals a trade-off between short and long term costs. Early action triggers energy efficiency but shows high short-term costs and should be considered in combination with policies to accelerate technology diffusion. Late action shows high long-term costs, even when combined with policies to enhance innovation and accelerate diffusion. Early action could reduce the cost uncertainty induced by the controversy surrounding the appropriate discount rate for policy assessment, while late action would require additional measures to reduce long term costs, notably in sectors with significant inertia.

Suggested Citation

  • Bibas, Ruben & Méjean, Aurélie & Hamdi-Cherif, Meriem, 2015. "Energy efficiency policies and the timing of action: An assessment of climate mitigation costs," Technological Forecasting and Social Change, Elsevier, vol. 90(PA), pages 137-152.
    • Handle: RePEc:eee:tefoso:v:90:y:2015:i:pa:p:137-152
    DOI: 10.1016/j.techfore.2014.05.003
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    2. Guivarch, Céline & Monjon, Stéphanie, 2017. "Identifying the main uncertainty drivers of energy security in a low-carbon world: The case of Europe," Energy Economics, Elsevier, vol. 64(C), pages 530-541.
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    4. Tol, Richard S.J., 2023. "The fiscal implications of stringent climate policy," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 495-504.
    5. Asproudis, Elias & Filippiadis, Eleftherios & Tian, Mo, 2022. "Timing of environmental technological choice and trade unions' climate solidarity," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    6. Riahi, Keywan & Kriegler, Elmar & Johnson, Nils & Bertram, Christoph & den Elzen, Michel & Eom, Jiyong & Schaeffer, Michiel & Edmonds, Jae & Isaac, Morna & Krey, Volker & Longden, Thomas & Luderer, Gu, 2015. "Locked into Copenhagen pledges — Implications of short-term emission targets for the cost and feasibility of long-term climate goals," Technological Forecasting and Social Change, Elsevier, vol. 90(PA), pages 8-23.
    7. Charlotte Senkpiel & Audrey Dobbins & Christina Kockel & Jan Steinbach & Ulrich Fahl & Farina Wille & Joachim Globisch & Sandra Wassermann & Bert Droste-Franke & Wolfgang Hauser & Claudia Hofer & Lars, 2020. "Integrating Methods and Empirical Findings from Social and Behavioural Sciences into Energy System Models—Motivation and Possible Approaches," Energies, MDPI, vol. 13(18), pages 1-30, September.
    8. Colmenares, Gloria & Löschel, Andreas & Madlener, Reinhard, 2019. "The rebound effect and its representation in energy and climate models," CAWM Discussion Papers 106, University of Münster, Münster Center for Economic Policy (MEP).

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    More about this item

    Keywords

    Energy efficiency; Climate policy; General equilibrium; Endogenous technical change;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • F0 - International Economics - - General
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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