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Technology Adoption and Aggregate Energy Efficiency
William A. Pizer, Winston Harrington, Raymond J. Kopp, Richard D. Morgenstern, Jhih-Shyang Shih
RFF Discussion Paper 02-52 | October 2002
RESEARCH TOPICS:
Abstract
Improved technology is often cited as a means to alter the otherwise difficult trade-off between the economic burden of regulation and environmental damage. Focusing on energy-saving technologies that mitigate the threat of climate change, we find that both energy prices and financial health influence technology adoption among a sample of industrial plants in four heavily polluting sectors. Based on a model linking technology adoption to growth in aggregate efficiency, we estimate that a doubling of energy prices, after raising the growth rate to 2.1%, would require slightly more than 50 years to generate a 50% improvement in aggregate efficiency relative to the baseline forecast.
RELATED SUBTOPICS
Energy Efficiency
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