MIDDLE EAST TECHNICAL UNIVERSITY

Department of Economics Seminar Series 

"Impacts of a Low-carbon Transition in the Irish Economy through Electrification"

by

Aykut Mert Yakut

(Economic and Social Research Institute)

Date: March 24, 2025 (Monday)

Time: 14:00

Synchronous Online Seminar

MS Teams Platform

MS Teams Link

Meeting ID: 359 569 035 465

Passcode: YZ3Ke663

Abstract

"This paper is the first under a two-year programme that aims to develop the Ireland Environment, Energy and Economy (I3E) model further to allow for a more realistic representation of the macroeconomic, sector- and household-level impacts of a low-carbon transition in Ireland. This paper first investigates the impacts of electrification of production in Ireland based on the current technologies available. Secondly, the electrification of residential energy demand and its interaction with the electrification of production are examined. Thirdly, the impacts of the increased use of renewables and the potential future ETS price are investigated. Fourthly, the impacts of the government's use of carbon revenues through revenue recycling are studied. This paper will help us gain insights into the impacts of transitioning to a low-carbon economy for different production sectors and what other factors (household behaviour, revenue recycling, ETS price) will play a role in the magnitude and direction of impacts.”