Economical energy storage has long been the Holy Grail of electricity. Since 1800, when Alessandro Volta invented the electric pile (a forerunner of the modern battery), hobbyists, scientists, and engineers have experimented with chemicals and materials to create economical storage at a smaller scale than a hydroelectric dam and with a more portable technology than, … More Two EV entries in the “how cool is this?” file
Understanding the economy as a dynamic, complex system relies on the foundational work of several economists, including Adam Smith (of course) and Ronald Coase. As Coase observed in his 1991 Nobel Prize address, What I have done is to show the importance for the working of the economic system of what may be termed the … More Coase’s influence on economics, and Adam Smith’s influence on Coase
Some of the most illuminating work in market design lately has been in payment for ecosystem services (PES). These projects provide examples of the continuing relevance of institutions to economic and policy outcomes, and the importance of Elinor Ostrom’s work on the diversity of governance institutions in common-pool resources; despite criticisms leveled at synthetic markets, … More Epistemology and synthetic market design: Examples from ecosystem services
Happy New Year! At Forbes Brian Potts asks a pithy question: will 2018 be the year of solar or coal? He starts with an observation familiar to most who have a passing familiarity with energy innovation in the past decade: the decline of coal as an electricity generation fuel source is a consequence of the … More Will 2018 be the year of solar or coal?
Last week the Environmental Defense Fund released a new report on grid modernization, Grid Modernization: The Foundation for Climate Change Progress (pdf). This short report provides a clear overview of how grid modernization enables a cleaner energy future, examining six areas where investment and regulatory policy should focus to make that happen. The focus of this … More EDF on Grid Modernization
Chicago’s National Public Radio affiliate, WBEZ, started their fall/winter pledge drive earlier this week. As usual, the station offers a range of “thank you” gifts, with different gifts for different donation amounts. Going beyond the ubiquitous tote bag and coffee mug, this year WBEZ offers a stylish black and red (good color combo when you … More Dynamic pricing is everywhere … even NPR
Recently on EconTalk Russ Roberts talked with Duke University’s Mike Munger about permissionless innovation. The discussion focused on Mike’s recent essay on permissionless innovation, in which he claimed that “permissionless innovation, a strong presumption in favor of allowing experimentation with new technologies and with new business platforms that use those technologies” is the most important, … More Complexity, Permissionless Innovation, and the English Dance