Implementation and Institutions
Implementing a technology strategy for fundamentally new energy systems will require significant investment from both the public and the private sector, over long periods of time. Phase I of this project identified the need to develop dedicated, long-term funding sources for energy research and development to support the necessary technology transformation required for a future energy system. The institutions and implementation element of the GTSP II will evaluate the appropriate public and private roles for achieving the development of new technologies required to dramatically reduce emissions associated with the production, transformation, distribution, and consumption of energy. This task element will investigate innovative mechanisms for financing, evaluate relevant regulatory regimes supportive of a transformed energy system, and examine the institutional incentives and barriers to technological change. This task will also explore models for effective coordination of the required R&D investments on an international basis. Full consideration must be given to the regional factors that affect technology development, deployment and diffusion on a global basis, including options for stimulating greater investment in the longer term R&D that will be required to develop and implement technology options over a period of tens to hundreds of years.
Companies, governments and public interest organizations worldwide are trying to understand and address the challenges of global change through a variety of investments in energy technology options and innovative policy approaches. Different technology paths and institutional arrangements are being explored in different regions of the world. A long-term, implementable technology strategy will require an active partnership among energy companies, fuel suppliers, technology developers, governments and public interest groups. The GTSP is unique in its approach to bringing together decision makers and science and technology experts from both public and private venues to provide an international perspective on priorities and effective risk management strategies for dealing with the uncertainties of climate change.