These are exciting times. Every month brings new innovations in solar efficiency, wind, chemical battery storage, smart grids, microgrids, building efficiency, and building electrification—many of which were described in CRES chapter programs. Each of these innovations will play an important role in mitigating climate change risk. However, technological innovation alone is not sufficient to transition us from a fossil fuel-based economy to a renewable and sustainable economy. If these new energy sources are to mature and replace fossil fuels, we also need to create market conditions that will support them in their new role in our economy.

One way to finance this transition is to place a carbon tax on fossil fuels combined with a monthly dividend payable to each citizen, summarized as fee & dividend. In this presentation, Greg Winchell will describe the principles of a progressive carbon price, the resulting innovations, the expected job growth, and the transition to the new energy economy. This solution is favored by over 3000 economists, several studies, dozens of congressional leaders, scores of think tanks and a number of insurance companies. Greg will also attempt to address concerns with carbon pricing and some newly discovered problems.