The contribution of taxes, subsidies, and regulations to British electricity decarbonization
Author(s)
Green, Richard
Staffell, Iain
Type
Journal Article
Abstract
Great Britain’s carbon emissions from electricity generation fell two-thirds between 2012 and 2019, providing an important example for other nations. This rapid transition was driven by a complex interplay of policies and events: subsidized investment in renewable generation, regulation-driven closure of coal power stations, rising carbon prices, and energy efficiency measures. Previous studies ignore the interactions of these simultaneous measures with each other and with exogenous changes to fuel prices and the weather. Here, we use Shapley values—a concept from game theory—to disentangle these and precisely attribute outcomes (changes to CO2 emissions, electricity prices, and fossil fuel consumption) to individual drivers. We find the effectiveness of each driver remained stable despite the broad transformation of the power system. The four main drivers each saved 19–29 MtCO2 per year in 2019, reinforcing the view that there is no “silver bullet” and that a multi-faceted approach to deep decarbonization is essential.
Date Issued
2021-10-20
Date Acceptance
2021-09-27
Citation
Joule, 2021, 5 (10), pp.2625-2645
ISSN
2542-4351
Publisher
Elsevier BV
Start Page
2625
End Page
2645
Journal / Book Title
Joule
Volume
5
Issue
10
Copyright Statement
© 2021 Published by Elsevier Inc.
Sponsor
Engineering & Physical Science Research Council (EPSRC)
Identifier
https://www.sciencedirect.com/science/article/pii/S2542435121004396?via%3Dihub
Grant Number
EP/R045518/1
Subjects
Science & Technology
Physical Sciences
Technology
Chemistry, Physical
Energy & Fuels
Materials Science, Multidisciplinary
Chemistry
Materials Science
WIND POWER
IMPACT
GAS
Carbon emissions
electricity
carbon tax
renewable generation
Shapley values
Publication Status
Published
Date Publish Online
2021-10-20