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Disrupting the Carbon Quo
 A Case for Applied Innovation Economics
Directed Research for Professor Robert Fichman
Carroll Graduate School of Management
Boston CollegeMatt Marino - Spring 2010
.................................................................................................Overview
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3
........................................................................................................Assumptions 
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3 
.............................................................................Carbon Quo: Defined
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4
...................................................................................................Too Big To Fail? 
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4 ..........................................................................................Carbon Infrastructure 
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5 .............................................................................Why Carbon Energy “Sticks” 
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6 .............................................................................The Cost and Price of Carbon 
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7 ................................................................................................................The Cost 
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7 ...............................................................................................................The Price 
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8 
.............................................................................New Energy: Defined
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..................................................................................................New Energy 1.0 
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10 ........................................................................................Abatement Strategies 
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.........................................................................Innovation Economics
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...................................................................................Evolutionary Economics 
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13 ....................................................................................Not Just Industry, Ideas 
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13 ...................................................................................................Hurdle Periods 
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15 ...................................................................................In the Wake of Creativity 
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..........................................................Innovation Economics: Applied
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Disrupting the Carbon Quo - 1
 
..............................................................................................The Perfect Storm 
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16 ......................................................................................A Wager for Innovation 
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1. Meeting Energy Demand
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172. Economic Growth
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183. The Right Kind of Feedback Loop
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..............................................................................Accelerating the Disruption 
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1. Global Carbon Price
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192. Appoint a “New Energy Czar”
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203. Incubate Innovation Organically
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204. Government Support for Mega Projects
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21
Disrupting the Carbon Quo - 2
 
In spite of advancements of exponential consequence throughout history, recent eventsdemonstrate that man’s struggle with the discovery, conversion and distribution of naturalresources will not cease - rather, the struggle only changes form…•On April 5, 2010, an explosion at the Massey Coal Mine in West Virgina killed 29 miners.This brings the total fatalities in U.S. mine disasters to 65 since the year 2000;•On April 20, 2010, the Deepwater Horizon Oil Rig, leased for oil well drilling by BP, explodedand eventually sank, killing 11 oil rig workers. The resulting oil well eruption is estimated to be leaking up to 5,000 barrels per day or more into the Gulf of Mexico, for more than 28 daysstraight (to date);•On May 1, 2010, the failure of a MWRA water main that feeds the Boston metro area gave 2million Bostonians a sense of the desperation that accompanies the search for potable water,when it doesn’t run from the tap.
Overview
"Change is hard. Change is hardest on those caught by surprise. Change is hardeston those who have difficulty changing too. But change is natural; change is notnew; change is important...It's time to think about the opportunity as well as the pain."-David Schlesinger 
1
This research program will explore the concept of Innovation Economics as a framework for understanding the emergence and potential for success of mainstream renewable, clean andefficient energy infrastructure, systems and technologies ("New Energy”), specifically within theUnited States.
 Assumptions
Economic analysis is inherently grounded in assumptions about human behavior and the purposeof social (and therefore, economic) organization. Because this report will reflect concepts andtheories from a range of sources - from Keynes to Kauffman - it is important to explicitly definetheoretical "common denominators" which warrant their synthesis. For this analysis, thefollowing assumptions accomplish this:
1.Economic health – stable and sustainable growth – is a desired outcome of social,commercial and political organizations;2.Effective energy conversion systems are a requirement for economic health;
Disrupting the Carbon Quo - 3
1 Friedman, Thomas. “The World Is Flat,” p20-21
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