1、Operational versus Capital Expenditure Risk in a Clean Energy TransitionAOperational versus Capital Expenditure Risk in a Clean Energy TransitionBrian C.Prest and Jordan WingenrothReport 24-04 March 2024Resources for the FutureiAbout the AuthorsBrian C.Prest is an economist and fellow at Resources f

2、or the Future(RFF)specializing in the economics of climate change,energy economics,and oil and gas supply.Prest uses economic theory and econometrics to improve energy and environmental policies by assessing their impacts on society.His recent work includes improving the scientific basis of the soci

3、al cost of carbon and economic modeling of various policies around oil and gas supply.His research has been published in peer-reviewed journals such as Nature,the Brookings Papers on Economic Activity,the Journal of the Association of Environmental and Resource Economists,and the Journal of Environm

4、ental Economics and Management.His work has also been featured in popular press outlets including the Washington Post,the Wall Street Journal,the New York Times,Reuters,the Associated Press,and Barrons.Jordan Wingenroth is a research associate at RFF with a focus on the Social Cost of Carbon(SCC).Jo

5、rdan leads the current effort to add SCC estimates pertaining to biodiversity loss to the RFF-Berkeley Greenhouse Gas Impact Value Estimator(GIVE)model,having formerly contributed to the development of GIVE as was published in Nature in 2022.Prior to joining RFF,Jordan studied ecology in the Departm

6、ent of Environmental Science,Policy,and Management at the University of California,Berkeley.Acknowledgements This work was supported by the National Renewable Energy Laboratory,a national laboratory of the U.S.Department of Energy,Office of Energy Efficiency and Renewable Energy,operated by the Alli