Author(s): Varnäs, A., J. Fahnestock and P. Erickson.
In: Varnäs, A., J. Fahnestock and P. Erickson. 2011. Sparking Technological Innovation for a Low Carbon Society. SEI Policy Brief.
Type: Policy brief
Link to SEI author(s):
Sparking Technological Innovation for a Low Carbon Society
Nevertheless, the technological shifts and the innovations needed are not happening fast enough. Change and innovation is necessary in several sectors. However, the electricity sector is particularly important as it is responsible for about 40 per cent of global CO2 emissions, and as electricity is used throughout the economy. However, the electricity sector also presents challenges for achieving and implementing innovations. Old, long-lived fossil-fuel technologies dominate; private sector R&D is relatively low; and markets are not easily formed. Where policy has attempted to stimulate technical change, progress has been limited by risks, as capital intensity and long investment cycles leave investors exposed to political change.
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