Peter J. G. Pearson|Timothy J. Foxon
A low carbon industrial revolution? Insights and challenges from past technological and economic transformations
Cardiff University|University of Leeds
recent efforts promote transition low carbon economy influenced suggestions low carbon transition offers challenges might yield economic benefits comparable previous industrial revolutions paper examines arguments challenges facing low carbon transition drawing recent thinking technological economic institutional factors enabled sustained first british industrial revolution role general purpose technologies stimulating sustaining subsequent industrial transformation processes contributed significant macroeconomic gains revolutions involved profound long drawnout changes economy technology society although energy transitions led longrun economic benefits took many decades develop reap significant longrun economic benefits low carbon transition sooner rather later would require systemic efforts incentives low carbon innovation substitution highcarbon technologies conclude achieving low carbon transition may require societal changes scale comparable previous industrial revolutions transition yet resemble previous industrial revolutions successful low carbon transition would however amount different kind industrial revolution