The Limits and Costs of Full Electrification

David Rapson and James Bushnell

Review of Environmental Economics and Policy, 2024, vol. 18, issue 1, 26 - 44

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 underappreciated 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. Although we readily acknowledge the external benefits of decarbonization, we also explore several underappreciated external costs. The credibility and eventual success of decarbonization efforts will be enhanced by foreseeing and ideally avoiding predictable but nonobvious costs of promising abatement pathways. Thus, even with all of its promise, the degree of electrification may ultimately reach a limit.

Date: 2024
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