Understanding the vicious cycle of myopic foresight and constrained technology deployment in transforming the European energy system.

ABSTRACT: Short-term planning of myopic decision-makers jeopardizes the long-term energy transition, especially since constraints in deploying clean energy technologies further inhibit their rapid scale-up. Here, we show that the European energy transition followed myopic decision-making in the past and investigate how policy-based tools can secure the energy transition against myopic planning. Short-term decision-making in the European energy transition may fail to comply with climate goals and lead to substantial over-capacities. Carbon prices can only effectively internalize long-term climate goals if they account for constrained technology deployment, increasing to around 400 EUR/tCO₂ in 2050. Idealized carbon prices, conversely, fail to incentivize the decarbonization of those sector

SUBMITTER: Mannhardt J 

PROVIDER: S-EPMC11665420 | biostudies-literature | 2024 Dec

REPOSITORIES: biostudies-literature