Responsables : Hassan Benchekroun (McGill U.), Sophie Bernard (Polytechnique Montréal), Robert Cairns (McGill U.), Justin Leroux (HEC Montréal), Martino Pelli (U. de Sherbrooke) et Charles Séguin (UQAM)
Moubarak Moundou Megna (Université Laval)
Innovating a Green Product : Pigou Meets Consumption Habits and Environmental Consciousness (avec M. Herrmann et M. Roland)
Rémi Morin-Chassé (UQAC)
The Transition to Renewable Energy
The existing economics literature neglects the important role of capacity in the production of renewable energy. To fill this gap, we construct a model in which renewable energy production is tied to renewable energy capacity, which then becomes a form of capital. This capacity capital can be increased through investment, which therefore comes at the cost of reduced consumption. We describe how society could optimally elect to split production between immediate consumption and investment in capital. Our model delivers an empirically satisfactory explanation for simultaneous use of non-renewable and renewable energy.
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