Economics of Energy Innovation and System Transition
8 April 2020
A new three year project project on the Economics of Energy Innovation and System Transition (EEIST), funded by the UK’s Department for Business, Energy and Industrial Strategy (BEIS) and the Children’s Investment Fund Foundation (CIFF) is bringing together leading experts in all fields of complexity science and innovation research with decision-makers around the world.
A consortium of 16 institutions, including Oxford's PCT Programme, the University of Cambridge, UCL and project leads the University of Exeter, aims to transform decision-making and planning for low-carbon innovation and technological change in Brazil, China, India, the UK and the EU countries - all countries committed to deploying unprecedented capacities of low-carbon technology to fulfill their emissions targets.
The project will be divided into five stages.
EEIST will first implement an ambitious programme of co-creation with experts and decision-makers in China, India, Brazil, the EU and the UK to determine which areas of low-carbon innovation policy-making could benefit from a transitions approach in the current context and existing windows of opportunity. This will lead to the development of new non-prescriptive and tailored approaches to policy appraisal that are relevant to non-linear, non-marginal transformation of energy systems.
The second stage will be to develop a new framework of operation for a transitions-compliant policy assessment that goes beyond a static, ‘perfect foresight’ frame of assessing costs and benefits, to analysing risks and opportunities.
Next, an empirical evidence base will be developed to enable model testing.
This evidence will inform the development of new models, or adaptation of existing models tailored to the policy questions identified. These models will be applied to generate evidence as part of this framework to provide, in co-creation with country partners and policy-makers, evidence-bases which can be used for policy-making.
Finally, the resulting analysis will be shared with stakeholders in order for these new methods to transform policy appraisal beyond the end of this project.
For more information about the project, please contact Dr Matt Ives, the Oxford team lead.
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