Distinguished Lecture Series: Jim Sweeney — Energy Efficiency and Renewables: Market and Behavioral Failures
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January 28, 2010
Policies to promote renewable energy and energy efficiency have been gaining momentum throughout the world, often justified by environmental and energy security concerns. This presentation first talks about energy efficiency options, then delves into the economic motivation for energy efficiency and renewable energy policies by articulating the classes of relevant behavioral failures and market failures. Such behavioral and market failures may vary intertemporally or atemporally; the temporal structure and the extent of the failures are the critical considerations in the development of energy policies. The talk will discuss key policy instruments and assess the extent to which they are well-suited to correct for failures with different structures.