Technological change - EPPA
|No previous version available|
|Institution||Massachusetts Institute of Technology (MIT), USA, https://globalchange.mit.edu/.|
|Solution concept||General equilibrium (closed economy)|
Changes in technologies are captured in EPPA by: 1) price-driven ones, which are induced by changes in relative prices; 2) non-price driven ones, which are considered by the inclusion of autonomous energy efficiency improvement (AEEI). Besides, EPPA also considers a set of "backstop" technologies that may not be technically or economically feasible until later years. For instance, there are backstop generation options (e.g., advanced nuclear, gas with CCS, bioenergy with CCS) that provide low-carbon or even negative emissions alternatives to existing technologies. Even if these technologies become technically feasible, they may not be economic without more aggressive climate policies that penalize the operation of generation technologies with much larger carbon footprints.