ABSTRACT
Economic considerations impact many decisions relevant to reducing greenhouse gas emissions and improving air quality. Research and development to improve the economics of electricity from solar and wind energy has enabled these technologies to become financially competitive by a variety of standards. For example, as battery prices have fallen, electric vehicles (EVs) have become more competitive with gasoline-powered vehicles, a relatively simple comparison. Although the larger transition to reduce greenhouse gas emissions is in progress, many consumers have not yet made the transition to electric bikes and EVs. Because of the costs of climate change and poor air quality, there are presently good economic reasons to continue the transition to renewable energy for electric power generation and to EVs for transportation. In large cities, there are also social and economic benefits associated with the electrification of public transportation. The benefits of improving air quality far exceed the costs.
