Tracking US Progress on the Path to a Decarbonized Economy
Investments in new technologies and infrastructure that help reduce greenhouse gas emissions — everything from electric vehicles to heat pumps — are growing rapidly in the US. Now, a new database, developed by a team at CEEPR led by Brian Deese and in collaboration with the Rhodium Group, enables these investments to be comprehensively monitored in real-time, thereby helping to assess the efficacy of policies designed to spur clean investments and address climate change. Read more at MIT News here.
Economic Implications of the Climate Provisions of the Inflation Reduction Act
A new CEEPR Working Paper assesses the economic impacts of the Inflation Reduction Act’s (IRA) key climate provisions. Despite higher projected investments in clean energy and electric vehicles than official U.S. government estimates, it finds that IRA provisions are cost effective. IRA has large impacts on power sector investments and electricity prices, lowering retail electricity rates and resulting in negative prices in some wholesale markets.
Sustainability Analytics: Meeting Carbon Commitments Most Efficiently
What makes a sustainable company a sustainable company? More and more companies are setting seemingly ambitious net-zero targets for their greenhouse gas emissions, with the dirty secret being that the path to achieving these targets is largely met with little to no actual emissions reductions from the company itself. So what can be done differently? A new working paper looks into this issue.
How Grid Reinforcement Costs Differ by the Income of EV User Groups
Due to the increasing power demand and expected load peaks, future electric mobility scenarios require high grid infrastructure investments. Therefore, socio-economic factors, such as income, impact the charging loads and the related grid infrastructure costs. These infrastructure costs could lead to an unwanted inequitable costing allocation, as grid operators might opt for an across-the-board electricity price increase. A new paper looks into this issue.
Comments on Draft Revisions to OMB Circulars A-4 and A-94
The Office of Information and Regulatory Affairs (OIRA) issued draft Circulars A-4 and A-94 for public comment earlier this year. Circular A-4 is the set of guidelines governing how federal agencies undertaking any major regulatory initiative should do a benefit-cost analysis as part of their regulatory impact analysis. Circular A-94 sets out guidelines and discount rates for benefit-cost analysis. In this research commentary, a group of economists at MIT submitted public comments on these draft circulars.
Biden’s Climate Law Is Reshaping Private Investment in the United States
Data from the Clean Investment Monitor, a new project from MIT’s Center for Energy and Environmental Policy Research and the Rhodium Group, shows that President Biden’s 2022 Inflation Reduction Act has impacted both consumer and corporate spending. “The data show that in the year since the climate law passed, spending on clean-energy technologies accounted for 4 percent of the nation’s total investment in structures, equipment and durable consumer goods — more than double the share from four years ago,” writes Jim Tankersley for The New York Times.
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Why Aren’t Schools Teaching Kids about Climate Change?
A recent NPR/Ipsos poll suggested that a majority of American parents and teachers want their kids to learn about climate change. But the poll also confirmed that there is hardly any climate education in our schools: “most teachers aren't actually talking about climate change in their classrooms.” A commentary in WBUR explores this question and references the MIT Climate Action Through Education (CATE) program's work, which aims to launch a climate change curriculum soon, and the Mass Youth Climate Coalition, which CATE is collaborating with on this problem.
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Clean Energy Sector Debates Impact of GOP Efforts to Repeal Tax Credits
An article in The Hill discusses the current debate in Congress over efforts to eliminate the Inflation Reduction Act’s clean energy tax credits. Some industry players and experts say this may be negatively impacting the sector — especially with potential financial backers nervously looking ahead to next year’s elections. “It definitely creates uncertainty in the market and is bad for both Democratic and Republican jurisdictions around the U.S.,” said Christopher Knittel, a professor of applied economics at MIT. Read the full article here for more thoughts.
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The Roosevelt Project
The Roosevelt Project takes a multidisciplinary approach to examine the transitional challenges associated with progress toward a deeply decarbonized U.S. economy. The project aims to chart a path forward through the transition that minimizes worker and community dislocations and enables at-risk communities to sustain employment levels by taking advantage of the economic opportunities present for regional economic development.
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The CATE Project
The Climate Action Through Education Project aims to develop a science-based climate curriculum for U.S high school students, placing particular emphasis on reaching populations who are underserved and on countering climate denial messages. The curriculum will inform students about the causes and consequences of anthropogenic climate change, while equipping them with the knowledge and sense of agency to contribute to climate mitigation and adaptation.
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The E2e Project
Through an interdisciplinary approach to the so-called ‘energy efficiency gap’, the E2e Project seeks to evaluate and strengthen policies and incentives for improved energy efficiency. Proven research designs used to achieve these aims include randomized controlled trials (RCTs) and quasi-experimental designs, with data and customer access provided through formal partnerships with private-sector companies.
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