The Electric Ceiling: Limits and Costs of Full Electrification

James Bushnell and David Rapson

No 2220, Working Papers from Federal Reserve Bank of Dallas

Abstract: Electrification is a centerpiece of global decarbonization efforts. Yet there are reasons to be skeptical of the inevitability, or at least the optimal pace, of the transition. We discuss several under-appreciated costs of full, or even deep, electrification. Consumer preferences can operate in favor of and in opposition to electrification goals; and electrification is likely to encounter physical and economic obstacles when it reaches some as-yet-unknown level. While we readily acknowledge the external benefits of decarbonization, we also explore several under-appreciated external costs. The credibility and eventual success of decarbonization efforts is enhanced by foreseeing and ideally avoiding predictable but non-obvious costs of promising abatement pathways. Thus, even with all of its promise, the degree of electrification may ultimately reach a limit.

Keywords: Electrification (search for similar items in EconPapers)
JEL-codes: L43 Q40 (search for similar items in EconPapers)
Pages: 25
Date: 2022-10-21
New Economics Papers: this item is included in nep-ene and nep-reg
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Working Paper: The Electric Ceiling: Limits and Costs of Full Electrification (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:feddwp:95030

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DOI: 10.24149/wp2220

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