Journal article Open Access

Costs or benefits? Assessing the economy-wide effects of the electricity sector's low carbon transition – The role of capital costs, divergent risk perceptions and premiums

Bachner, Gabriel; Mayer, Jakob; Steininger, Karl


DCAT Export

<?xml version='1.0' encoding='utf-8'?>
<rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:adms="http://www.w3.org/ns/adms#" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:dctype="http://purl.org/dc/dcmitype/" xmlns:dcat="http://www.w3.org/ns/dcat#" xmlns:duv="http://www.w3.org/ns/duv#" xmlns:foaf="http://xmlns.com/foaf/0.1/" xmlns:frapo="http://purl.org/cerif/frapo/" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" xmlns:gsp="http://www.opengis.net/ont/geosparql#" xmlns:locn="http://www.w3.org/ns/locn#" xmlns:org="http://www.w3.org/ns/org#" xmlns:owl="http://www.w3.org/2002/07/owl#" xmlns:prov="http://www.w3.org/ns/prov#" xmlns:rdfs="http://www.w3.org/2000/01/rdf-schema#" xmlns:schema="http://schema.org/" xmlns:skos="http://www.w3.org/2004/02/skos/core#" xmlns:vcard="http://www.w3.org/2006/vcard/ns#" xmlns:wdrs="http://www.w3.org/2007/05/powder-s#">
  <rdf:Description rdf:about="https://zenodo.org/record/3630513">
    <dct:identifier rdf:datatype="http://www.w3.org/2001/XMLSchema#anyURI">https://zenodo.org/record/3630513</dct:identifier>
    <foaf:page rdf:resource="https://zenodo.org/record/3630513"/>
    <dct:creator>
      <rdf:Description>
        <rdf:type rdf:resource="http://xmlns.com/foaf/0.1/Agent"/>
        <foaf:name>Bachner, Gabriel</foaf:name>
        <foaf:givenName>Gabriel</foaf:givenName>
        <foaf:familyName>Bachner</foaf:familyName>
        <org:memberOf>
          <foaf:Organization>
            <foaf:name>University of Graz</foaf:name>
          </foaf:Organization>
        </org:memberOf>
      </rdf:Description>
    </dct:creator>
    <dct:creator>
      <rdf:Description>
        <rdf:type rdf:resource="http://xmlns.com/foaf/0.1/Agent"/>
        <foaf:name>Mayer, Jakob</foaf:name>
        <foaf:givenName>Jakob</foaf:givenName>
        <foaf:familyName>Mayer</foaf:familyName>
        <org:memberOf>
          <foaf:Organization>
            <foaf:name>University of Graz</foaf:name>
          </foaf:Organization>
        </org:memberOf>
      </rdf:Description>
    </dct:creator>
    <dct:creator>
      <rdf:Description>
        <rdf:type rdf:resource="http://xmlns.com/foaf/0.1/Agent"/>
        <foaf:name>Steininger, Karl</foaf:name>
        <foaf:givenName>Karl</foaf:givenName>
        <foaf:familyName>Steininger</foaf:familyName>
        <org:memberOf>
          <foaf:Organization>
            <foaf:name>University of Graz</foaf:name>
          </foaf:Organization>
        </org:memberOf>
      </rdf:Description>
    </dct:creator>
    <dct:title>Costs or benefits? Assessing the economy-wide effects of the electricity sector's low carbon transition – The role of capital costs, divergent risk perceptions and premiums</dct:title>
    <dct:publisher>
      <foaf:Agent>
        <foaf:name>Zenodo</foaf:name>
      </foaf:Agent>
    </dct:publisher>
    <dct:issued rdf:datatype="http://www.w3.org/2001/XMLSchema#gYear">2019</dct:issued>
    <dcat:keyword>Climate change mitigation; Electricity; Europe; Risk; Capital costs</dcat:keyword>
    <frapo:isFundedBy rdf:resource="info:eu-repo/grantAgreement/EC/H2020/642260/"/>
    <schema:funder>
      <foaf:Organization>
        <dct:identifier rdf:datatype="http://www.w3.org/2001/XMLSchema#string">10.13039/501100000780</dct:identifier>
        <foaf:name>European Commission</foaf:name>
      </foaf:Organization>
    </schema:funder>
    <frapo:isFundedBy rdf:resource="info:eu-repo/grantAgreement/EC/H2020/776479/"/>
    <schema:funder>
      <foaf:Organization>
        <dct:identifier rdf:datatype="http://www.w3.org/2001/XMLSchema#string">10.13039/501100000780</dct:identifier>
        <foaf:name>European Commission</foaf:name>
      </foaf:Organization>
    </schema:funder>
    <dct:issued rdf:datatype="http://www.w3.org/2001/XMLSchema#date">2019-11-01</dct:issued>
    <dct:language rdf:resource="http://publications.europa.eu/resource/authority/language/ENG"/>
    <owl:sameAs rdf:resource="https://zenodo.org/record/3630513"/>
    <adms:identifier>
      <adms:Identifier>
        <skos:notation rdf:datatype="http://www.w3.org/2001/XMLSchema#anyURI">https://zenodo.org/record/3630513</skos:notation>
        <adms:schemeAgency>url</adms:schemeAgency>
      </adms:Identifier>
    </adms:identifier>
    <owl:sameAs rdf:resource="https://doi.org/10.1016/j.esr.2019.100373"/>
    <dct:isPartOf rdf:resource="https://zenodo.org/communities/coacch-co-designing-the-assessment-of-climate-change-costs-h2020-project"/>
    <dct:description>&lt;p&gt;To mitigate climate change, societies strive to transform the energy sector towards greenhouse gas emission&lt;br&gt; neutrality, a move which assessment studies often indicate incurs large macroeconomic costs. In this context the&lt;br&gt; weighted average costs of capital (WACC) are especially important, as renewables are highly capital intensive. In&lt;br&gt; particular, investors&amp;#39; perceptions and expectations of risks are fundamental determinants of WACC and thus&lt;br&gt; strongly influence the macroeconomic outcome of transition analyses. For the case of Europe&amp;#39;s electricity sector&lt;br&gt; transition, we analyze this sensitivity by choosing different WACC settings, driven also by different policy settings&lt;br&gt; redirecting expectations. First, we find that when differentiating WACC across regions and technologies&lt;br&gt; more accurately than usually done in the literature, immediate and substantial macroeconomic benefits from the&lt;br&gt; transition emerge. We thereby reveal a systematic overestimation of low-carbon transition costs in the literature.&lt;br&gt; Second, we find that when pricing-in increasing trust in renewables, these benefits get significantly larger,&lt;br&gt; outweighing possible negative macroeconomic effects from the risk of stranding of fossil-based assets. We also&lt;br&gt; demonstrate that in developed regions such as Europe, de-risking renewables is an effective lever for reaching&lt;br&gt; climate targets, which indicates the relevance of green macroprudential regulation.&lt;/p&gt;</dct:description>
    <dct:accessRights rdf:resource="http://publications.europa.eu/resource/authority/access-right/PUBLIC"/>
    <dct:accessRights>
      <dct:RightsStatement rdf:about="info:eu-repo/semantics/openAccess">
        <rdfs:label>Open Access</rdfs:label>
      </dct:RightsStatement>
    </dct:accessRights>
    <dct:license rdf:resource="https://creativecommons.org/licenses/by/4.0/legalcode"/>
    <dcat:distribution>
      <dcat:Distribution>
        <dcat:accessURL rdf:resource="https://doi.org/10.1016/j.esr.2019.100373">https://doi.org/10.1016/j.esr.2019.100373</dcat:accessURL>
        <dcat:byteSize>2492642</dcat:byteSize>
        <dcat:downloadURL rdf:resource="https://zenodo.org/record/3630513/files/Bachner et al. - 2019 - Costs or benefits Assessing the economy-wide effe.pdf">https://zenodo.org/record/3630513/files/Bachner et al. - 2019 - Costs or benefits Assessing the economy-wide effe.pdf</dcat:downloadURL>
        <dcat:mediaType>application/pdf</dcat:mediaType>
      </dcat:Distribution>
    </dcat:distribution>
  </rdf:Description>
  <foaf:Project rdf:about="info:eu-repo/grantAgreement/EC/H2020/642260/">
    <dct:identifier rdf:datatype="http://www.w3.org/2001/XMLSchema#string">642260</dct:identifier>
    <dct:title>Transitions pathways and risk analysis for climate change mitigation and adaption strategies</dct:title>
    <frapo:isAwardedBy>
      <foaf:Organization>
        <dct:identifier rdf:datatype="http://www.w3.org/2001/XMLSchema#string">10.13039/501100000780</dct:identifier>
        <foaf:name>European Commission</foaf:name>
      </foaf:Organization>
    </frapo:isAwardedBy>
  </foaf:Project>
  <foaf:Project rdf:about="info:eu-repo/grantAgreement/EC/H2020/776479/">
    <dct:identifier rdf:datatype="http://www.w3.org/2001/XMLSchema#string">776479</dct:identifier>
    <dct:title>CO-designing the Assessment of Climate CHange costs</dct:title>
    <frapo:isAwardedBy>
      <foaf:Organization>
        <dct:identifier rdf:datatype="http://www.w3.org/2001/XMLSchema#string">10.13039/501100000780</dct:identifier>
        <foaf:name>European Commission</foaf:name>
      </foaf:Organization>
    </frapo:isAwardedBy>
  </foaf:Project>
</rdf:RDF>
30
53
views
downloads
Views 30
Downloads 53
Data volume 132.1 MB
Unique views 25
Unique downloads 50

Share

Cite as