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The Electric Ceiling: Limits and Costs of Full Electrification

NBER Working Paper Series, 2022-10

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Title:
The Electric Ceiling: Limits and Costs of Full Electrification
Author: Bushnell, James B ; Rapson, David S
Subjects: Climate change ; Consumers ; Costs ; Economic theory ; Electric vehicles ; Electricity ; Emissions ; Environment and Energy Economics ; Fossil fuels ; Greenhouse gases ; Market shares ; Natural gas ; Technology ; Technology adoption
Is Part Of: NBER Working Paper Series, 2022-10
Description: Electrification is a centerpiece of global decarbonization efforts. Yet there are reasons to be skeptical of the inevitability, or at least the optimal pace, of the transition. We discuss several under-appreciated costs of full, or even deep, electrification. Consumer preferences can operate in favor of and in opposition to electrification goals; and electrification is likely to encounter physical and economic obstacles when it reaches some as-yet-unknown level. While we readily acknowledge the external benefits of decarbonization, we also explore several under-appreciated external costs. The credibility and eventual success of decarbonization efforts is enhanced by foreseeing and ideally avoiding predictable but non-obvious costs of promising abatement pathways. Thus, even with all of its promise, the degree of electrification may ultimately reach a limit.
Publisher: Cambridge: National Bureau of Economic Research
Language: English
Identifier: ISSN: 0898-2937
DOI: 10.3386/w30593
Source: Alma/SFX Local Collection

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