Open to all students, faculty, researchers and staff of the Stanford community. RSVP requested but not required to attend.
Innovation, Economics and Policy in the Energy Revolution: Insights from the UK Electricity Transition and Wider Implications
This talk will outline both theory and practice of energy transition and decarbonisation, drawing on long experience in the UK which has been a battleground between different approaches to electricity regulation and the implications of decarbonisation – culminating in halving CO2 emissions from the sector from the levels in 1990.
Innovation in both policy and technology has been fundamental to this. Drawing on the book (joint with Profs Jean-Charles Hourcade and Karsten Neuhoff) Planetary Economics: Energy, Climate Change and The Three Domains of Sustainable Development, the talk will explain a broadened theoretical framework and show how this can reshape our view of both the economic and political dimensions of effective policy, including (but not confined to) to the energy transition. The author will also present recent work on some implications of the approach for modelling of climate mitigation and the economic case for policy mixes.
Michael Grubb is Professor of Energy and Climate Change and Research Director at University College London, Institute of Sustainable Resources, and UCL Energy Institute. From 2011-2016, alongside academic roles, he was Senior Advisor at the energy regulator, Ofgem, and now Chairs the UK government’s Panel of Technical Experts on Electricity Market Reform. He was formerly at the Economics Department at Cambridge University and Chief Economist at the UK Carbon Trust.
Founder of the journal Climate Policy, Prof Grubb served on the UK Climate Change Committee, and is on the Scientific Advisory Board of the German Economics Research Institute DIW Berlin.
Michael Grubb is author of eight books, sixty journal research articles, and numerous other publications. His book Planetary Economics brings together the lessons from 25 years of research and implementation of energy and climate policies has received widespread accolade for its ‘comprehensive and profoundly important’ articulation of economics appropriate to the practical policies for tackling energy and climate change challenges.
In 2018 Michael was appointed as Convening Lead Author for the first chapter of the IPCC Sixth Assessment report on Mitigation, and leader on Sustainability for the UK Research Council programme on Rebuilding Macroeconomics.