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The Carbon Crunch$
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Dieter Helm

Print publication date: 2012

Print ISBN-13: 9780300186598

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300186598.001.0001

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Investing in new technologies

Investing in new technologies

(p.213) Chapter 11 Investing in new technologies
The Carbon Crunch

Dieter Helm

Yale University Press

This chapter explains that new technologies are required and that hence, R&D has to be a major element of climate change strategy. The new and emerging technologies may enable us to address the climate change problem, provided that coal has not wreaked too much damage in the meantime. Technical developments focus on the temperatures for combustion, including so-called super-critical power stations. The coming of new information technologies provides an opportunity to make electricity an active system, thereby allowing the demand side of the market to come into play. In allocating resources to R&D, it is important to design R&D policy such that there is no attempt to overtly pick winners, but that resources are concentrated in promising areas. R&D creates public goods, and these need to be distributed as rapidly as possible around the globe, given that climate change is a global public bad.

Keywords:   new technologies, R&D, climate change, emerging technologies, technical developments

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