Analysis

A Sustainable Path for Energy Production and Use

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Economic and Policy Analysis

While the invention and development of new clean energy technologies is a necessary step toward reducing global environmental damage and satisfying domestic and international energy demands, the economic viability and impacts of these new technologies must be considered to develop appropriate policy responses that increase net social welfare. As these new technologies are essentially substitutes for those that currently exist, their introduction could potentially trigger large changes in institutional structures, incentives for crop production and community development, land use, regional and macro- level economic indicators, infrastructure development, and environmental damage. These complicated responses occur at a variety of scales, both spatial and temporal, and on both the supply and demand sides of the market.

In addition to these predictive considerations, society must determine what paths are relevant and desirable, and the policy instruments that are needed to bring about the preferred path(s), including any potential environmental effects. In many cases, introducing new technologies and establishing associated market infrastructure would require various incentive structures (such as subsidies and tax-breaks) to ensure market success. In a similar vein, commercialization of new technologies requires an understanding of player incentives and cost/benefit tradeoffs to ensure optimal returns to research investments. The widespread adoption of clean energy technologies will require a thorough understanding of the political context in which technology innovation takes place. Political scientists at Colorado State University conduct research and provide insight on the decision-making processes involved in energy and climate change policy. Political science research can illuminate the ways that these elements of the political context shape the development of policies, which in turn influence clean energy innovation by creating opportunities and obstacles for investment in R&D and the operation of markets. Political policy must support Colorado, and Northern Colorado in particular, to become leaders in the alternative energy sector.

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