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Technology and U.S. Emissions Reductions Goals: Results of the EMF 24 Modeling Exercise

Abstract:
This paper presents an overview of the study design and the results of the EMF 24 U.S. Technology Scenarios. The EMF 24 U.S. Technology Scenarios engaged nine top energy-environment-economy models to examine the implications of technological improvements and technological availability for reducing U.S. greenhouse gas emissions by 50% and 80% by 2050. The study confirms that mitigation at the 50% or 80% level will require a dramatic transformation of the energy system over the next 40 years. The study also corroborates the result of previous studies that there is a large variation among models in terms of which energy strategy is considered most cost-effective. Technology assumptions are found to have a large influence on carbon prices and economic costs of mitigation. Keywords: Technology, scenarios, climate change

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JEL Codes: Q42: Alternative Energy Sources, Q41: Energy: Demand and Supply; Prices, Q54: Climate; Natural Disasters and Their Management; Global Warming

Keywords: Technology, scenarios, climate change

DOI: 10.5547/01956574.35.SI1.2

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Published in Volume 35, Special Issue of the bi-monthly journal of the IAEE's Energy Economics Education Foundation.