Heutel, Garth; et al. (2017): Solar Geoengineering, Uncertainty, and the Price of Carbon
Heutel, Garth; Moreno-Cruz, Juan; Shayegh, Soheil (2017): Solar Geoengineering, Uncertainty, and the Price of Carbon. In Journal of Environmental Economics and Management. DOI: 10.1016/j.jeem.2017.11.002.
"We consider the socially optimal use of solar geoengineering to manage climate change and its implications for carbon emissions abatement policy. We show that solar geoengineering is a substitute for emissions abatement; optimal policy includes less abatement, by up to eight percentage points, and has a lower carbon price, by up to fifteen percent, than recommended by models that ignore solar geoengineering. However, it is an imperfect substitute, since it reduces temperature without reducing atmospheric or ocean carbon concentrations."