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Publications

Viewing all publications in Academic Articles/Working Papers
  • Playing with Fire Cover

    Playing with Fire

    Responding to Criticism of the Social Cost of Greenhouse Gases

    Federal agencies will need to offer considered and detailed responses to objections raised in the notice-and-comment processes for individual regulations or administrative actions that apply the Working Group’s social cost valuations. Given its expertise, the Working Group should consider providing such responses now, so that agencies can then incorporate them into future actions. This working paper offers a blueprint for those responses.

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  • About Time

    Recalibrating the Discount Rate for the Social Cost of Greenhouse Gases (Working Paper)

    In light of recent evidence, a new range of discount rates appropriate for calculating the social cost of greenhouse gases could be conservatively estimated as between 0.5%-2.5%, with a central estimate of 1.5%. Agencies should follow the Interagency Working Group’s guidance on applying new social cost of greenhouse gas estimates based on updated discount rates—and will need to justify their choices, including any departures from prior practices.

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  • Broadening the Use of the Social Cost of Greenhouse Gases in Federal Policy Cover

    Broadening the Use of the Social Cost of Greenhouse Gases in Federal Policy

    Our working paper highlights numerous areas in which the federal government should apply the social cost of greenhouse gases beyond regulatory cost-benefit analysis. It is organized under the framework of “decision-making, budgeting, and procurement” laid out in the President’s executive order, identifying a number of relevant actions—like environmental reviews conducted under NEPA and the assessment of royalty rates for federal land-management. In short, application of the social cost of greenhouse gases would be extremely beneficial for any executive branch decision with significant greenhouse gas implications.

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  • Who Knows What: Information Barriers to Efficient DER Roll-Out Cover

    Who Knows What: Information Barriers to Efficient DER Roll-Out

    Working Paper

    While academic research on Distributed Energy Resources (DERs) has been mostly focused on first-best systems, we hypothesize that in reality multiple information barriers to efficient DER roll-out exist. We thus study the prevalence and importance of information issues arising in the context of deployment of DERs by reviewing the existing engineering and economic literature on distributed resources, analyzing DER-related regulatory proceedings, and surveying the relevant electricity sector stakeholders for their perception of information relevance and accessibility.

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  • Strategic Policymaking for Implementing Renewable Portfolio Standards: A Tri-level Optimization Approach Cover

    Strategic Policymaking for Implementing Renewable Portfolio Standards: A Tri-level Optimization Approach

    Forthcoming

    Appropriately designed renewable support policies can play a leading role in promoting renewable expansions and contribute to low emission goals. Meanwhile, ill-designed policies may distort electricity markets, put power utilities and generation companies on an unlevel playing field and, in turn, cause inefficiencies. This paper, forthcoming in IEEE Transactions on Power Systems, proposes a framework to optimize policymaking for renewable energy sources, while incorporating conflicting interests and objectives of different stakeholders.

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