Social discounting, social costs of carbon, and their use in energy system models

dc.contributor.authorLöffler, Konstantin
dc.date.accessioned2021-11-01T11:54:45Z
dc.date.available2021-11-01T11:54:45Z
dc.date.issued2021-09-16
dc.description.abstractDiscounting plays a large role in cost-optimization models, but is nevertheless often only covered in little detail in energy system models. The aim of this paper is to highlight the effects of varying discount rates and social costs of carbon in energy system models with the example of the Global Energy System (GENeSYS-MOD), propagating open debate and transparency about chosen parameters for model applications. In doing so, this paper adds to the academic discourse on socio-economic factors in energy system models and gives an outline to modelers in the field by providing example results. The results show that close-to-zero discount rates that factor in intergenerational equality, total emissions could be reduced by up to 41% until 2050 compared to the baseline discount rate of 5%. This effect is even increased when a carbon price akin to the actual social costs of carbon is chosen. This underlines the importance of the topic, which is, up to now, seldom covered in cost-optimizing energy system models.en
dc.description.sponsorshipEC/H2020/835896/EU/Open ENergy TRansition ANalyses for a low-carbon Economy/Open ENTRANCEen
dc.identifier.eissn1748-9326
dc.identifier.issn1748-9318
dc.identifier.urihttps://depositonce.tu-berlin.de/handle/11303/13785
dc.identifier.urihttp://dx.doi.org/10.14279/depositonce-12561
dc.language.isoenen
dc.relation.ispartof10.14279/depositonce-12085
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/en
dc.subject.ddc330 Wirtschaftde
dc.subject.ddc333 Boden- und Energiewirtschaftde
dc.subject.otherenergy system modelingen
dc.subject.otherdiscountingen
dc.subject.othersocial costs of carbonen
dc.subject.otherenergy policyen
dc.subject.otherdecarbonization pathwaysen
dc.subject.otherGENeSYS-MODen
dc.titleSocial discounting, social costs of carbon, and their use in energy system modelsen
dc.typeArticleen
dc.type.versionpublishedVersionen
dcterms.bibliographicCitation.articlenumber104005en
dcterms.bibliographicCitation.doi10.1088/1748-9326/ac228aen
dcterms.bibliographicCitation.journaltitleEnvironmental Research Lettersen
dcterms.bibliographicCitation.originalpublishernameIOPen
dcterms.bibliographicCitation.originalpublisherplaceBristolen
dcterms.bibliographicCitation.volume16en
tub.accessrights.dnbfreeen
tub.affiliationFak. 7 Wirtschaft und Management>Inst. Volkswirtschaftslehre und Wirtschaftsrecht (IVWR)>FG Wirtschafts- und Infrastrukturpolitik (WIP)de
tub.affiliation.facultyFak. 7 Wirtschaft und Managementde
tub.affiliation.groupFG Wirtschafts- und Infrastrukturpolitik (WIP)de
tub.affiliation.instituteInst. Volkswirtschaftslehre und Wirtschaftsrecht (IVWR)de
tub.publisher.universityorinstitutionTechnische Universität Berlinen
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