Mads Greaker

• Aurland-Bredesen, Kine Josefine; Golombek, Rolf & Greaker, Mads (2026). Competition between green and blue hydrogen and indirect network effects. Journal of Environmental Economics and Management. ISSN 0095-0696. 140. doi: 10.1016/j.jeem.2026.103397. Full text in Research Archive
• Greaker, Mads; Heggedal, Tom-Reiel & Rosendahl, Knut Einar (2026). Directed technical change and the potential fossil fuel technology trap. Energy Economics. ISSN 0140-9883. 157. doi: 10.1016/j.eneco.2026.109223. Full text in Research Archive
• Arve, Malin & Greaker, Mads (2025). Markedseffekt av miljøkrav i offentlige anskaffelser. In Langseth, Marius & Similä, Jan Ole (Ed.), Public procurement pathways : sustainability edition. Cappelen Damm Akademisk. ISSN 9788202882976. p. 73–97. Full text in Research Archive
• Greaker, Mads; Sevillano, Ignacio; Søgaard, Gunnhild & Øistad, Knut (2025). Hvilken rolle kan norskprodusert biodrivstoff spille i oppnåelsen av norske klimamål i 2030. Samfunnsøkonomen. ISSN 1890-5250. 39(1), p. 56–67. doi: https:/www.samfunnsokonomen.no/aktuell-analyse/hvilken-rolle-kan-norskprodusert-biodrivstoff-spille-i-oppnaelsen-av-norske-klimamal-i-2030/. Full text in Research Archive Show summary

  I Hurdalsplattformen skriver Regjeringen at de ønsker å: «Etablere en storstilt satsing på norsk bioenergi og avansert biodrivstoff i transportsektoren». De ønsker å utvikle en plan som viser hvordan det kan skje «uten at det svekker naturens opptak og lagring av CO2, samt hvor bruken av knappe bioressurser skal prioriteres for å sikre effektive utslippskutt.». Samtidig viser Grønn bok publisert i oktober 2023 at Norge er helt avhengige av biodrivstoff for å nå klimamålene. Vi ser på mulighetsrommet for en slik satsning basert på norsk råstoff, rammer i norsk og europeisk lov og regelverk for en slik satsning, og basert på dette analyserer vi hvilken rolle norskprodusert biodrivstoff kan spille i oppnåelsen av norske klimamål i 2030 under EUs klimarammeverk.

• Greaker, Mads (2024). Innovation in Salmon Farming: Enhancing Profitability or Reducing Environmental Hazards? Marine Resource Economics. ISSN 0738-1360. 39(4), p. 333–347. doi: 10.1086/731773. Full text in Research Archive
• Greaker, Mads; Hagem, Cathrine & Skulstad, Andreas (2024). Offsetting schemes and ecological taxes for wind power production. Ecological Economics. ISSN 0921-8009. 224. doi: 10.1016/j.ecolecon.2024.108292. Full text in Research Archive Show summary

  On the one hand, wind power production on land seems necessary for decarbonizing the electricity sector. On the other hand, we risk replacing one environmental problem with other environmental problems. The present paper provides a novel contribution to the literature on how to regulate the development of wind power plants on land (WPPs). Current regulation is largely based on a concession system, where both ecological taxes and offset schemes are left unexplored. We develop a theoretical model of WPP development with offsets and ecological taxes. We show that if additional loss of pristine nature and biodiversity is acceptable at some monetary price, establishing an offset market for WPP development and combining it with an ecological tax will be socially desirable. In fact, this solution is preferable to both only having an ecological tax or only having a compulsory offset market. Compared to only an ecological tax, it leads to lower environmental costs and more electricity from wind power production. By looking at a WPP project and two restoration cases, we demonstrate how an offset scheme could be conducted and conclude that offsetting WPPs could be possible. However, since wind power, to our knowledge, never have been exposed to an offsetting scheme, high quality measurement methods and thorough regulations must first be in place to ensure equivalence in the values of ecosystem services lost and gained.

• Greaker, Mads & Popp, David (2023). Environmental economics, regulation and innovation. In Braunerhjelm, Pontus; Andersson, Martin; Blind, Knut & Eklund, Johan (Ed.), Handbook of Innovation and Regulation. Edward Elgar Publishing. ISSN 9781800884465. p. 141–141. Full text in Research Archive
• Golombek, Rolf; Greaker, Mads; Kverndokk, Snorre & Ma, Lin (2023). Policies to Promote Carbon Capture and Storage Technologies. Environmental and Resource Economics. ISSN 0924-6460. 85(1), p. 267–302. doi: 10.1007/s10640-023-00767-5. Full text in Research Archive Show summary

  We model the value chain of Carbon Capture and Storage (CCS) by focusing on the decisions taken by actors involved in either capture, transport or storage of CO2. Plants emitting CO2 are located apart. If these invest in carbon capture facilities, the captured CO2 is transported to terminals, which again transport the received amount of CO2 to a storage site. Because of network effects, we may have three equilibria: one with no CCS, one with low investments in CCS, and one with high investments in CCS. In a numerical specification of the model, we find that the market for CCS may be in a state of excess inertia, i.e., even if the social cost of carbon is sufficiently high to justify investment from a social point of view, the market actors may not succeed in coordinating their efforts to reach the equilibrium with high investment. The government should then consider offering economic incentives to investments. In addition to the network effect, several other market imperfections exist, such as market power, economics of scale and the environmental externality from CO2 emissions. We identify policy instruments—in addition to a correctly set carbon tax—that will correct for the remaining market imperfections and bring private investments in line with the first-best levels. Without correction, too many terminals are set up and too few plants invest in capture facilities in our reference market structure.

• Greaker, Mads; Hagem, Cathrine & Proost, Stef (2022). An economic model of vehicle-to-grid: Impacts on the electricity market and consumer cost of electric vehicles. Resource and Energy Economics. ISSN 0928-7655. 69(69). doi: 10.1016/j.reseneeco.2022.101310. Full text in Research Archive Show summary

  Higher battery storage capacity in electric vehicles (EV) implies less need for inconvenient recharging during long trips and increases the potential gains from vehicle-to-grid (V2G) electricity supply. We present an analytical model for the intertwinement of the consumers’ choice of battery capacity and the electricity market. We show that V2G increases the consumers’ choice of battery capacity, and it may reduce the cost of owning an EV vis-à-vis a traditional car. Furthermore, V2G alleviates the capacity pressure on peak hours, and thereby reduces the need for investment in generating capacity, saving social costs. Moreover, V2G may make the difference in electricity prices between peak and off-peak hours smaller, potentially increasing social surplus further. Based on a future scenario for the Belgian electricity market, we provide a numerical illustration indicating that the savings might be substantial.

• Aune, Finn Roar; Gaure, Simen; Golombek, Rolf; Greaker, Mads; Kittelsen, Sverre & Ma, Lin (2022). Promoting CCS in Europe: A case for green strategic trade policy? Energy Journal. ISSN 0195-6574. 43(6), p. 71–102. doi: 10.5547/01956574.43.6.faun. Full text in Research Archive Show summary

  According to IEA (2018), there is a huge gap between the first-best social optimal utilization of Carbon Capture and Storage (CCS) technologies to lower global CO2 emissions and the current, negligible diffusion of this technology. This calls for a financial support mechanism for CCS. We study to what extent promotion of CCS in Europe should be through subsidizing development and production of CCS technologies—an upstream subsidy—or by subsidising the purchasers of CCS technologies—a downstream subsidy. This question is examined theoretically in a stylized model and numerically by using a new approach that integrates strategic trade policy with an economic model of the European energy markets. The theory model suggests that upstream subsidies should clearly be preferred, and this is confirmed by the numerical simulations. For the European power market, the numerical simulations suggest that subsidies to CCS coal power should exceed subsidies to CCS gas power.

• Greaker, Mads (2021). Optimal regulatory policies for charging of electric vehicles. Transportation Research Part D: Transport and Environment. ISSN 1361-9209. 97, p. 1–16. doi: 10.1016/j.trd.2021.102922. Full text in Research Archive
• Greaker, Mads & Hagem, Cathrine (2020). Elbiler og toveislading - Fordeler for både bileiere og strømkunder. Samfunnsøkonomen. ISSN 1890-5250. p. 31–39. Full text in Research Archive Show summary

  Elektriske biler er på rask framgang i Norge. Det innebærer mindre forbruk av bensin og diesel, noe som er nødvendig for at Norge skal nå sine klimamålsettinger. Men hva betyr elbilene for kraftmarkedet? Det er opplagt at forbruket av strøm vil øke, men som vi skal se, vil strøm til transport utgjøre forbausende lite. Noen spør seg også om dagens ledningsnett tåler at alle lader sine elbiler samtidig etter jobb. Med intelligente ladere som fordeler effektuttaket utover døgnet kan dette løses. Elbiler kan til og med vise seg å være ledningsnettets reddende engler. Bilparken står parkert nesten hele døgnet, og det betyr mye tilgjengelig batterikapasitet i elbilen. I artikkelen argumenterer vi for at denne kapasiteten bør brukes til å avhjelpe noen av utfordringene i fremtidens elektrisitetsmarked. Dette kan også vise seg å bli lønnsomt for elbileierne.

• Golombek, Rolf; Greaker, Mads & Hoel, Michael (2020). Should environmental R&D be prioritized? Resource and Energy Economics. ISSN 0928-7655. 60. doi: 10.1016/j.reseneeco.2019.101132. Full text in Research Archive Show summary

  An innovator may not be able to capture the full social benefit of her innovation and, therefore, governments support private R&D through various measures. We compare a market good innovation—to develop a more efficient technology to produce a standard market good—with an environmental innovation—to develop a more efficient abatement technology—that has the same potential to increase the social surplus. In the first-best outcome, which can be achieved by offering an R&D subsidy and a diffusion subsidy, the R&D subsidy should be greatest for an environmental innovation, whereas the diffusion subsidy should be greatest for a market good innovation. The ranking of the two types of subsidies reflects that the appropriability problem is greater for an environmental innovation than for a market good innovation.

• Greaker, Mads; Vormedal, Irja & Rosendal, G. Kristin (2020). Environmental policy and innovation in Norwegian fish farming: Resolving the sea lice problem? Marine Policy. ISSN 0308-597X. 117. doi: 10.1016/j.marpol.2020.103942. Full text in Research Archive Show summary

  In Norway, the world’s largest salmon-producing country, reducing sea-lice levels in fish farms has been an overarching goal of government policy since 2013. However, industry innovation has not yet succeeded in significantly reducing the sea lice problem. We identify two main types of radical environmental innovation that could potentially resolve the sea-lice problem: in-shore closed-cage production technology, and a genetically lice-resistant salmon. Furthermore, we provide an analytical framework that shows how radical environmental innovations with a “public good” character are least likely to receive private R&D funds. This leads us to conclude that neither in-shore closed cage technology nor targeted breeding towards lice-resistance will succeed in the market unless backed by targeted government intervention. Closer examination shows that these two types of innovation have been less prioritized, if at all, in recent policy interventions. First, the government has geared most of financial support towards relieving the risk of investment in offshore innovation projects, although inshore projects might be better suited for accommodating public and environmental needs. Second, this study underscores the need and potential for stimulating sustainable innovation through the genetic route—a point overlooked in Norway’s current policy mix.

• Greaker, Mads; Golombek, Rolf & Hoel, Michael (2019). Global Impact of National Climate Policy in the Nordic Countries. Nordic Economic Policy Review. ISSN 1904-4526. p. 157–202. doi: 10.6027/Nord2019-012. Full text in Research Archive Show summary

  The Nordic countries have engaged in ambitious policies to reduce greenhouse gas emissions. This might convince other countries to be more ambitious. We explore mechanisms by which small countries can affect emission reduction programs in other countries. Development of improved clean technologies seems to be the most viable of these mechanisms. Inspired by the philosopher Kant, the Nordic countries may also follow an ambitious climate policy because they want to do their share of a global effort to halt climate change. They should then consider whether they want other countries to follow their choice of policies.

• Asheim, Geir Bjarne; Fæhn, Taran; Nyborg, Karine; Greaker, Mads; Hagem, Cathrine & Harstad, Bård Gjul [Show all 9 contributors for this article] (2019). The case for a supply-side climate treaty. Science. ISSN 0036-8075. 365(6451), p. 325–327. doi: 10.1126/science.aax5011. Full text in Research Archive Show summary

  During decades of international climate policy negotiations, aiming to limit demand for fossil fuels, the stock of carbon dioxide in the atmosphere has increased considerably, and even the flow of emissions to the atmosphere continues to grow (1). To reach the Paris Agreement's goal of keeping global warming well below 2°C, substantial parts of the world's fossil fuels simply cannot be combusted and must be left in the ground (1, 2). Recent work thus suggests redirecting climate policies toward fossil fuel producers directly (3–5) by capping the flows of extraction and restricting the stocks of resources available for exploration. We synthesize key economic mechanisms that support this approach, arguing that an international treaty among fossil fuel–producing countries could (i) enhance the impact of the Paris Agreement in the presence of free riders; (ii) stimulate investment in low-carbon technology research and development (R&D); (iii) provide insurance against a failed Paris Agreement; and (iv) make carbon policies more acceptable to fossil fuel producers, thus increasing their support. None of these effects depend on universal producer participation. Moreover, such a treaty need not be costly and could in fact help reduce the costs of the required transition to a low-carbon economy.

• Golombek, Rolf; Greaker, Mads & Kverndokk, Snorre (2019). Hva er framtiden for CCS? Samfunnsøkonomen. ISSN 1890-5250. p. 54–65. Full text in Research Archive
• Fæhn, Taran; Asheim, Geir Bjarne; Greaker, Mads; Hagem, Cathrine; Harstad, Bård Gjul & hoel, michael [Show all 10 contributors for this article] (2018). Parisavtalen og oljeeksporten. Samfunnsøkonomen. ISSN 1890-5250. 3, p. 39–50. Full text in Research Archive Show summary

  Bør Norge begrense sin oljeutvinning for å motvirke global oppvarming? Hvilke politiske virkemidler bør i så fall brukes? Vi oppsummerer sentrale fagøkonomiske argumenter i denne debatten i lys av de seneste årenes endringer i internasjonale klimapolitiske rammebetingelser, derunder Parisavtalen. Om Norge ønsker å bidra mer til å begrense oppvarmingen enn internasjonale avtaler forplikter oss til, kan redusert oljeutvinning være en kostnadseffektiv måte å gjøre det på. De mest nærliggende virkemidlene vil da være begrenset lisenstildeling og/eller en avgift per utvunnet enhet. Ved å initiere en internasjonal avtale om tilbudsbegrensning blant produsentland, vil norske myndigheter kunne bidra til at Parisavtalens målsettinger realiseres, selv om avtalen i seg selv skulle bli ineffektiv. En produsentlandavtale kan med andre ord virke som en forsikring.

• Fischer, Carolyn; Greaker, Mads & Rosendahl, Knut Einar (2018). Strategic technology policy as a supplement to renewable energy standards. Resource and Energy Economics. ISSN 0928-7655. 51, p. 84–98. doi: 10.1016/j.reseneeco.2017.05.006. Full text in Research Archive
• Greaker, Mads & Kristoffersen, Mats (2017). Lading av elbiler: Bør vi godta flere standarder? Samfunnsøkonomen. ISSN 1890-5250. 131(4), p. 67–77. Full text in Research Archive Show summary

  Organiseringen av lading av elbiler kan ha mye å si for hvor vellykket overgangen til elbiler blir. Det finnes allerede flere ulike ladestandarder. Bilprodusenten Tesla har valgt å lage sin egen standard, og nå følger kanskje de tyske bilgigantene etter. Men er det ønskelig? For bensin og diesel tar man det for gitt at det er samme standard, og alle biltyper kan tanke på alle fyllestasjoner. Ulike standarder fører til at hver enkelt elbileier har tilgang til færre mulige ladestasjoner. Dette kan igjen påvirke utbredelsen av elbiler negativt. Videre kan de samfunnsøkonomiske kostnadene av å kutte klimagassutslipp bli unødvendig høye.

• Fischer, Carolyn; Greaker, Mads & Rosendahl, Knut Einar (2017). Robust technology policy against emission leakage: The case of upstream subsidies. Journal of Environmental Economics and Management. ISSN 0095-0696. 84, p. 44–61. doi: 10.1016/j.jeem.2017.02.001. Full text in Research Archive
• Greaker, Mads; Grimsrud, Kristine & Lindholt, Lars (2017). The potential resource rent from Norwegian fisheries. Marine Policy. ISSN 0308-597X. 84, p. 156–166. doi: 10.1016/j.marpol.2017.07.014. Full text in Research Archive Show summary

  National wealth can be estimated via the System of National Accounts (SNA). According to SNA-numbers, Norwegian fisheries contributed negatively to the national wealth in the period 1984–2016 with exception of the years 2010–2011 and 2015–2016. Because all parameter values entering the calculation of national wealth are conditional on the existing management regime, the potential value of the natural resources may be concealed. This paper finds that this is the case for the Norwegian fishery sector. Using a numerical optimization model, the paper estimates the contra factual resource rent to be 1.6 billion USD if the fishing quotas were harvested efficiently with the currently available technology. This is 1.2 billion USD more than the observed resource rent in 2011 and means that Norwegian fisheries contribute to national wealth four times more than indicated by 2011 SNA-numbers. Hence, national wealth calculations based on official statistics may trivialize the role of natural resources.

• Greaker, Mads; Heggedal, Tom-Reiel & Rosendahl, Knut Einar (2017). Environmental Policy and the Direction of Technical Change. The Scandinavian Journal of Economics. ISSN 0347-0520. 120(4), p. 1100–1138. doi: 10.1111/sjoe.12254. Full text in Research Archive Show summary

  Should governments direct R&D from "dirty" into "clean" technologies? How im-portant is this compared to carbon pricing? We inquire into this, introducing twonovelties compared to recent literature. We introduce decreasing returns to R&D, andallow future carbon taxes to in‡uence current R&D decisions. Our results suggest thatgovernments should prioritize clean R&D. Dealing with major environmental problemsrequires R&D to shift to clean technology. However, with most researchers workingwith clean technology, both productivity spillovers and future risks of being replacedincrease. Consequently, the wedge between private and social value of an innovation islargest for clean technologies.

• Andersen, Jørgen Juel & Greaker, Mads (2017). Emission Trading with Fiscal Externalities: The Case for a Common Carbon Tax for the Non-ETS Emissions in the EU. Environmental and Resource Economics. ISSN 0924-6460. 71(3), p. 803–823. doi: 10.1007/s10640-017-0184-x. Full text in Research Archive Show summary

  A government is fiscally constrained if it is unable to raise sufficient tax revenue to finance the first-best level of public spending. When involved in emission trading, a fiscally constrained government will potentially seek to close its fiscal gap through emission permit sales. This fiscal incentive therefore generates a fiscal externality in the permit market that is endogenous to the extent of fiscal constrainedness among the participating countries. Our theory explains how, and when, fiscal externalities may be expected to arise. Moreover, we show that in a permit market equilibrium with fiscal externalities, the initial allocation of emission permits between countries will affect: (1) the price of emission permits, (2) the global distribution of abatement effort, and (3) total greenhouse gas mitigation costs. This is contrary to the textbook model of emission permit markets. Our findings are especially relevant for the EU which is about to allow for trading in emission rights between EU member countries for all emissions outside the European Emissions Trading System..

• Greaker, Mads & Midttømme, Kristoffer (2016). Network effects and environmental externalities: Do clean technologies suffer from excess inertia? Journal of Public Economics. ISSN 0047-2727. 143, p. 27–38. doi: 10.1016/j.jpubeco.2016.08.004. Full text in Research Archive
• Fischer, Carolyn; Greaker, Mads & Rosendahl, Knut Einar (2016). Are Renewable Energy Subsidies in Need of Reform? In Strand, Jon (Eds.), The Economics and Political Economy of Energy Subsidies. MIT Press. ISSN 9780262034647. p. 255–272. Full text in Research Archive
• Eggert, Håkan; Greaker, Mads & Kidane, Asmerom (2015). Trade and resources: Welfare effects of the Lake Victoria fisheries boom. Fisheries Research. ISSN 0165-7836. 167, p. 156–163. doi: 10.1016/j.fishres.2015.02.015. Full text in Research Archive
• Greaker, Mads & Rosnes, Orvika (2015). Robuste norske klimamålsetninger :. Samfunnsøkonomen. ISSN 1890-5250. 129(1), p. 67–77. Full text in Research Archive
• Greaker, Mads; Hoel, Michael Olaf & Rosendahl, Knut Einar (2014). Does a renewable fuel standard for biofuel reduce climate costs? Journal of the Association of Environmental and Resource Economists. ISSN 2333-5955. 1(3), p. 337–363. doi: 10.1086/678189. Full text in Research Archive
• Eggert, Hakan & Greaker, Mads (2014). Promoting second generation biofuels: Does the first generation pave the road? Energies. 7(7), p. 4430–4445. doi: 10.3390/en7074430. Full text in Research Archive
• Greaker, Mads & Hagem, Cathrine (2013). Strategic Investment in Climate Friendly Technologies: The Impact of Global Emissions Trading. Environmental and Resource Economics. ISSN 0924-6460. doi: 10.1007/s10640-013-9718-z. Full text in Research Archive
• Alfsen, Knut H.; Moe, Thorvald & Greaker, Mads (2013). Sustaining Welfare for Future Generations: A Review Note on the Capital Approach to the Measurement of Sustainable Development. Challenges in Sustainability. 1(1), p. 16–26. doi: 10.12924/cis2013.01010016. Full text in Research Archive Show summary

  The objective of this policy paper is twofold: -To present an update on an economic approach to measure sustainable development - the capital approach - and how this approach may be combined with the ecological approach to arrive at indicators of sustainable development; -Show how this analytical framework is actually used in longer term policy making in Norway - a country that relies heavily on non-renewable resources. A model of development is presented based on produced, human, natural, health - and social capital and the level of technology. Natural capital is divided into two parts - natural capital produced and sold in markets (oil and gas) - and non-market natural capital like clean air and biodiversity. Then the policy rules and indicators that flow from this framework are applied to Norwegian longer term policies for sustainable development.

• Hovi, Jon; Greaker, Mads; Hagem, Cathrine & Holtsmark, Bjart (2012). A credible compliance enforcement system for the climate regime. Climate Policy. ISSN 1469-3062. 12(6), p. 741–754. doi: 10.1080/14693062.2012.692206. Full text in Research Archive Show summary

  The compliance enforcement system of the Kyoto Protocol provides only weak incentives for Parties to comply with their commitments. For example, the penalties for non-compliant countries are not legally binding, and moreover, there is no second-order punishment for those countries that fail to implement them. Thus, a Party can simply refuse to comply without consequence. The alternative compliance enforcement systems that have been proposed in the literature also face substantial problems. A simple, flexible, potent, and credible compliance enforcement system for a post-Kyoto climate agreement, based on deposits, is proposed here: at ratification, each country deposits a significant amount of money, and continues to do so in the preparation stage each year until the start of the commitment period. At the end of this period, those countries that meet their emissions limitation targets receive a full refund of their deposit, while those that fail to do so forfeit part or all of it. A simplified two-country model of the deposit system and a numerical example of an agreement involving the US, Japan, Russia, and Europe is also provided. If each country’s deposit is no less than its abatement costs, there is a strong incentive for participating countries to avoid noncompliance.

• Golombek, Rolf; Greaker, Mads; Kittelsen, Sverre A.C.; Røgeberg, Ole Jørgen & Aune, Finn Roar (2011). Carbon Capture and Storage Technologies in the European Power Market. Energy Journal. ISSN 0195-6574. 32(3), p. 209–237. doi: 10.5547/ISSN0195-6574-EJ-Vol32-No3-8. Full text in Research Archive Show summary

  We examine the potential of Carbon Capture and Storage (CCS) technologies in the European electricity markets, assessing whether CCS technologies will reduce carbon emissions substantially in the absence of investment subsidies, and how the availability of CCS technologies may affect electricity prices and the amount of renewable electricity. To this end we augment a multi-market equilibrium model of the European energy markets with CCS electricity technologies. The CCS technologies are characterized by costs and technical efficiencies synthesized from a number of recent CCS reviews. Our simulations indicate that with realistic values for carbon prices, new CCS coal power plants become profitable, totally replacing non-CCS coal power investments and to a large extent replacing new wind power. New CCS gas power also becomes profitable, but does not replace non-CCS gas power investment fully. Substantially lower costs, through subsidies on technological development or deployment, would be necessary to make CCS modification of existing coal and gas power plants profitable for private investors.

• Hoel, Michael Olaf & Greaker, Mads (2011). Incentives for Environmental R&D. CESifo Working Papers. ISSN 1617-9595. Full text in Research Archive
• Golombek, Rolf; Greaker, Mads & Hoel, Michael Olaf (2010). Carbon Taxes and Innovation without Commitment. The B.E. Journals in Economic Analysis & Policy. 10(1). doi: 10.2202/1935-1682.2473. Full text in Research Archive
• Hoel, Michael Olaf & Greaker, Mads (2009). Entreprenörskap och innovationer för hållbar utveckling: Kap 2. In Braunerhjelm, Pontus (Eds.), Entreprenörskap och innovationer för hållbar utveckling. Entreprenörskapsforum. ISSN 9789189301313. p. 27–44. Full text in Research Archive

View all works in NVA

• Aurland-Bredesen, Kine Josefine; Golombek, Rolf & Greaker, Mads (2025). Competition Between Green and Blue Hydrogen and Indirect Network Effects. CESifo Working Paper Series. Full text in Research Archive
• Hjort, Ingrid & Greaker, Mads (2025). International cooperation on climate change: The case for a green innovation club. Full text in Research Archive
• Rusch, Graciela Monica; Hindar, Kjetil; Barton, David Nicholas & Greaker, Mads (2024). How to capture the role of nature to design effective instruments that ensure sustainability? Full text in Research Archive
• Søgaard, Gunnhild; Øistad, Knut; Sevillano, Ignacio & Greaker, Mads (2023). Hvilken rolle kan norskprodusert biodrivstoff spille i oppnåelsen av norske klimamål i 2030? Full text in Research Archive
• Lindholt, Lars & Greaker, Mads (2022). The Resource Rent in Norwegian Aquaculture from 1984 to 2020 – Is the Rent Ripe for Taxation? Social Science Research Network (SSRN). doi: 10.2139/ssrn.4018251. Full text in Research Archive Show summary

  This study uses the National Accounts and the definitions of the UN System of Environmental-Economic Accounting to calculate the resource rents in Norwegian aquaculture in the period 1984-2020. If we know the remuneration of all input factors such as capital, labour, and inter-mediates except the remuneration of the ecosystem services used in aquaculture, the resource rent will appear as the difference between the value of output and the remuneration of all other input factors. This resource rent is a combination of a Ricardian rent and regulation rent. To as-sess the size of the rent, we perform various sensitivity analysis as introducing higher rates of return, applying alternative wage costs and by treating the stock of growing fish as real capital. A robust conclusion is that there has been a significant resource rent in aquaculture since 2000 and that it has risen markedly since 2012. In the period 2016-2020 it has averaged 18-20 billion NOK per year. Hence, both from an allocative justice and economic efficiency perspective, the Norwegian aquaculture industry seems ripe for resource rent taxation.

• Greaker, Mads; Hoel, Michael; Lund, Diderik; Rosendahl, Knut Einar & Wulfsberg, Fredrik (2021). Nåverdi selvsagt ikke bare pedagogikk. Full text in Research Archive
• Greaker, Mads; Hoel, Michael; Lund, Diderik; Rosendahl, Knut Einar & Wulfsberg, Fredrik (2021). Også usikre tall må diskonteres. Dagens næringsliv. ISSN 0803-9372. Full text in Research Archive
• Asheim, Geir B.; Fæhn, Taran; Golombek, Rolf; Greaker, Mads; Hagem, Cathrine & Harstad, Bård [Show all 12 contributors for this article] (2021). Norsk olje-politikk kan bidra for klimaet. p. 28–29. Full text in Research Archive
• Greaker, Mads & Lindholt, Lars (2021). The resource rent in Norwegian aquaculture 1984-2020: Calculations applying the National Accounts. Discussion Papers. ISSN 0803-074X. Full text in Research Archive Show summary

  Inntekter fra naturressurser er knyttet til begrepet ressursrente eller grunnrente. Ressursrenten er den inntekten fra å utnytte en naturressurs som blir igjen etter at alle nødvendige innsatsfaktorer har fått sin markedsmessige avlønning. Grunnrenten er altså merinntekten av å disponere en naturressurs, eller med andre ord; det man tjener utover det man normalt ville ha tjent ved å investere realkapital og humankapital i andre virksomheter. Det er bare et begrenset antall steder (lokaliteter) i Norge og hele verden som er egnet for havbruk, og dette gir opphav til ressursrente. Gode lokaliteter avhenger blant annet av klimatiske forhold, kvalitet på sjøvann og beskyttelse mot vær og vind. I likhet med andre naturressursnæringer kan begrenset adgang også betraktes som et resultat av samspillet mellom ressursknapphet og regulering av næringen i form av et begrenset antall produksjonstillatelser.

• Greaker, Mads & Kvalnes, Pål Arne (2020). Nå kan du selge strømmen i elbilen din. [Internet]. oslomet.no. Full text in Research Archive
• Asheim, Geir Bjarne; Fæhn, Taran; Nyborg, Karine; Greaker, Mads; Hagem, Cathrine & Harstad, Bård Gjul [Show all 9 contributors for this article] (2020). Arguments for a new supply-side climate treaty. EAERE Magazine. Full text in Research Archive
• Asheim, Geir Bjarne; Fæhn, Taran; Nyborg, Karine; Greaker, Mads; Harstad, Bård Gjul & Hagem, Cathrine [Show all 9 contributors for this article] (2020). Strengthening the Paris Agreement by supply-side climate policies. Atlas of Science. Full text in Research Archive
• Asheim, Geir Bjarne; Fæhn, Taran; Nyborg, Karine; Greaker, Mads; Hagem, Cathrine & Harstad, Bård Gjul [Show all 9 contributors for this article] (2019). En ny, internasjonal klimaavtale bør på plass. Full text in Research Archive
• Lindholt, Lars & Greaker, Mads (2019). Oppdretterne har betalt syv milliarder for noe som er verd 200 milliarder. Dagens næringsliv. ISSN 0803-9372. Full text in Research Archive
• Lindholt, Lars & Greaker, Mads (2019). Oppdretternes «superprofitt» på nivå med vannkraftens. Dagens næringsliv. ISSN 0803-9372. Full text in Research Archive
• Greaker, Mads; Hagem, Cathrine & Proost, Stef (2019). Vehicle-to-Grid: Impacts on the electricity market and consumer cost of electric vehicles. Discussion Papers. ISSN 0803-074X. Full text in Research Archive Show summary

  Higher battery storage capacity in electric vehicles (EV) can potentially serve two purposes: First, the larger the capacity, the less need for inconvenient recharging during long trips. Second, the larger the capacity, the larger the potential gains from vehicle-to-grid (V2G) electricity supply during peak prices or during periods of imbalance. We present an analytical model for the intertwinement of the consumers’ choice of battery capacity and the potential for supplying power to the electricity market. We show that V2G increases the consumers’ choice of battery capacity, and it may reduce the cost of owning an EV vis-à-vis a traditional car. Furthermore, V2G alleviates the capacity pressure on peak hours, and thereby reduces the need for investment in backup power, saving social costs. Based on a future scenario for the Belgian electricity market, we provide a numerical illustration indicating that the savings may be substantial.

• Hjort, Ingrid Cathrine & Greaker, Mads (2019). Green R&D Clubs. Full text in Research Archive
• Andreassen, Gøril Louise; Rosendahl, Knut Einar & Greaker, Mads (2018). Støtt klimaløsninger i stedet for petroleumsforskning. Stavanger Aftenblad. ISSN 0804-8991. Full text in Research Archive
• Barton, David Nicholas; Grimsrud, Kristine; Heyman, Axel; Greaker, Mads; Chen, Xianwen & Garnåsjordet, Per Arild [Show all 7 contributors for this article] (2017). Monetary valuation methods in urban ecosystem accounting -examples of their relevance for municipal policy and planning in the Oslo metropolitan area. Full text in Research Archive
• Midttømme, Kristoffer & Greaker, Mads (2014). Environmental Policies and Network Effects. Full text in Research Archive
• Andersen, Jørgen Juel & Greaker, Mads (2013). Insufficient Fiscal Capacity may ruin the Efficiency properties of GHG Cap and Trade. Full text in Research Archive
• Bruvoll, Annegrete; Greaker, Mads; Bye, Brita; Fæhn, Taran & Hagem, Cathrine (2009). Kvotekutt ikke løsningen. Dagens næringsliv. ISSN 0803-9372. Full text in Research Archive
• Bye, Brita & Greaker, Mads (2009). Biodiesel og drivstoffavgifter. Full text in Research Archive
• Bruvoll, Annegrete & Greaker, Mads (2009). Kvotekutt ikke løsningen. Dagens næringsliv. ISSN 0803-9372. Full text in Research Archive
• Greaker, Mads & Hagem, Cathrine (2008). Det globale klimatet: Vad kan et litet land som Norge Bidra med? Ekonomisk Debatt. ISSN 0345-2646. p. 44–45. Full text in Research Archive
• Greaker, Mads & Hagem, Cathrine (2007). Det globale klima: Noen tanker om hvordan Norge kan bidra. RØST: Radikalt økonominettverks skriftserie. ISSN 1503-9595. p. 10–19. Full text in Research Archive
• Parray, Muhammad Tabish; Martinsen, Thomas; Ogner, Eirik Jåstad & Greaker, Mads (2026). Strategies for optimal sizing and operation of battery storage systems and electric vehicle infrastructure for large electricity consumers. Norges miljø- og biovitenskapelige universitet (NMBU). ISSN 9788257523206. Full text in Research Archive Show summary

  As the global energy landscape transitions toward decentralized renewable generation to meet net-zero targets, the stability of power systems increasingly depends on demand-side flexibility. Large Commercial and Industrial (C&I) consumers coupled with stationary storage and electric vehicle (EV) fleets possess significant flexibility potential. However, unlocking this potential is surrounded by uncertainties regarding long-term investment viability, infrastructure sizing, and operational complexity. This thesis addresses these challenges by presenting a techno-economic framework for optimizing the investment and operation of behind-the-meter (BTM) and front-of-the-meter (FTM) battery storage assets i.e. stationary batteries and EVs. Using Oslo Airport as a primary case study, a site characterized by high load variability and significant EV penetration, the research employs a bottom-up mathematical optimization approach across three progressive studies. The research first evaluates the robustness of investment planning for stationary battery storage at the airport. By utilizing an eight-year continuous historical dataset (2015–2022), the analysis demonstrates that relying on single-year datasets leads to suboptimal investment decisions due to inter-annual market volatility. The profitability estimate of a project could thus vary significantly if based on a single/representative year of data. The study confirms that stationary storage is financially viable, with peak shaving driving the majority of savings. However, it also highlights that beyond an optimal size, the incremental benefit from increasing the battery size decreases. Further, the thesis investigates the potential of using parked EVs as mobile energy storage assets at the airport, instead of stationary battery storage. Compared to stationary batteries, this approach significantly reduces costs, as investment in battery capacity is not required and the only investment required is in EV chargers (smart and bidirectional). When benchmarking optimally sized EV charger configurations against stationary storage, mobile solutions demonstrated significantly superior returns on investment (ROI) due to reduced capital expenditures. The research also identifies an infrastructure ‘saturation point’ for bidirectional charger penetration. Beyond a certain penetration, the marginal utility of additional bidirectional chargers for local peak shaving diminishes, indicating that a targeted mix of smart and bidirectional chargers is more economically efficient than ubiquitous bidirectional charger deployment. The percentage of bidirectional chargers in the mix decreases as EV adoption increases in future. Finally, the research validates the operational feasibility of revenue stacking of the parked EVs i.e. capturing value from multiple distinct market services with the same asset through a sequential multi-stage optimization framework. The results reveal that integrating Frequency Containment Reserve-Normal (FCR-N) with local peak shaving and energy arbitrage (based on day-ahead market prices) fundamentally alters the operational logic, increasing total savings by approximately 44% compared to only optimizing for local peak shaving and energy arbitrage. Here FCRN emerges as the dominant source of savings. The projected 2040 scenarios involving the electrification of short-distance aviation indicates that future load profiles will be characterized by extreme high-power spikes at the airport. Operating in that context, the sequential multi-stage optimization demonstrates the necessity for dynamic algorithms capable of pivoting between multiple services to ensure profit maximization. Collectively, this thesis contributes a comprehensive decision-support framework that bridges the gap between theoretical grid modelling and practical site-specific investment planning. It demonstrates that large C&I consumers can use optimization strategies to profitably integrate storage from batteries and aggregated EV capacity. By doing so, businesses can save money while supporting a cleaner, more stable energy grid.

• Fredriksen, Halvard Haukeland; Arve, Malin; Breiland, Marianne; Gjønnes, Arnhild Dordi; Greaker, Mads & Gresseth, Jon Reidar [Show all 9 contributors for this article] (2024). NOU 2024: 9 Ny lov om offentlige anskaffelser — Andre delutredning. Departementenes sikkerhets- og serviceorganisasjon. Full text in Research Archive
• Dalen, Hanne Marit; Greaker, Mads & Hagem, Cathrine (2023). Ressursrenten i naturressursnæringene i Norge 1984-2022: med eget kapittel om vindkraft. Statistisk sentralbyrå (SSB). ISSN 9788258718137. Full text in Research Archive Show summary

  Ressursrenten er den inntekten fra å utnytte en naturressurs som blir igjen etter at alle nødvendige innsatsfaktorer har fått sin markedsmessige avlønning. I denne rapporten bruker vi nasjonalregnskapstall fra Statistisk sentralbyrå for å beregne ressursrenten i naturressursnæringene i Norge i perioden fra 1984 til 2022 (kapittel 3). Disse næringene omfatter kraftproduksjon, akvakultur, skogbruk, fiske og fangst, jordbruk, bergverk og olje- og gassutvinning. Vi gjør også en egen analyse av ressursrenten i vindkraft på land for perioden 2018-2022 (kapittel 4). Siden nasjonalregnskapet (NR) ikke splitter kraftsektoren etter energikilde (vann, vind og varme) baserer vi denne beregningen på andre kilder enn NR-tall. Produksjonsverdien i vindkraftnæringen beregnes utfra timesdata (produksjon og spotpriser) i det prisområdet produksjonen fant sted. Beregningene basert på nasjonalregnskapstall viser at det i 2022 var positiv ressursrente i alle næringer utenom jordbruket. Vi finner at ressursrenten fra vindkraftnæringen var negativ fram til 2020, og deretter positiv. I 2022 var kraftprisene uvanlig høye og ressursrenten fra vindkraftnæringen er beregnet til 7,6 milliarder kroner.

• Fredriksen, Halvard Haukeland; Arve, Malin; Breiland, Marianne; Gjønnes, Arnhild Dordi; Greaker, Mads & Gresseth, Jon Reidar [Show all 9 contributors for this article] (2023). NOU 2023: 26 Ny lov om offentlige anskaffelser - første delutredning. Departementenes sikkerhets- og serviceorganisasjon. ISSN 9788258315831. Full text in Research Archive
• Greaker, Mads; Hagem, Cathrine & Skulstad, Andreas (2022). Internalizing negative environmental impacts from wind power production: Coasian bargaining, offsetting schemes and environmental taxes. Statistisk sentralbyrå (SSB). Full text in Research Archive Show summary

  On the one hand, wind power production is necessary for decarbonizing the electricity sector. On the other hand, we risk replacing one environmental problem with other environmental problems, that is, stopping climate change in exchange with increased loss of pristine land and biodiversity. The present paper provides a novel contribution to the literature on how to regulate the development of wind power plants (WPPs). Current regulation is largely based on a concession system, where both environmental taxes and offset schemes are left unexplored. We develop a theoretical model of WPP development with offsets and environmental taxes. We show that if additional loss of pristine nature and biodiversity is acceptable at some monetary price, establishing an offset market for WPP development and combining it with an environmental tax will be socially desirable. In fact, this solution is preferable to both only having an environmental tax or only having a compulsory offset market. However, if no more loss of pristine land and biodiversity can be tolerated, compulsory and complete offsetting should be the norm. We look at two restoration projects in Norway and evaluate to what extent they could have been used as offsets for a recent WPP development in Norway. We conclude that they can, but an offset scheme demands good measurement methods and regulations to ensure equivalence in the values of ecosystem services lost and gained

• Greaker, Mads & Lindholt, Lars (2022). Ressursrenten i naturressursnæringene i Norge 1984-2021. Statistisk sentralbyrå (SSB). ISSN 9788258715426. Full text in Research Archive Show summary

  Norge er et land rikt på naturressurser. Ekstraordinær høy avkastning i en kommersiell sektor som baserer seg på en naturressurs omtales som grunnrente eller ressursrente. Denne rapporten bruker nasjonalregnskapstall fra Statistisk sentralbyrå for å undersøke om det har vært ressursrente i de naturressursbaserte næringene i perioden fra 1984 til 2021. Disse næringene omfatter kraftproduksjon, akvakultur, skogbruk, fiske og fangst, jordbruk, bergverk og olje- og gassutvinning. Holder vi jordbruket utenom ligger samlet gjennomsnittlig ressursrente for de fem siste årene i perioden 1984-2021 nesten 260 milliarder 2021-kroner over gjennomsnittet for de fem første årene. Holder vi også olje- og gassektoren utenom ligger samlet årlig ressursrente over 60 milliarder kroner høyere mot slutten i forhold til i begynnelsen av perioden. Det er særlig kraftproduksjon, akvakultur og fiske og fangst som har bidratt til denne økningen.

• Hjort, Ingrid; Harstad, Bård Gjul & Greaker, Mads (2020). Second-Best Approaches to Regulate Emissions. UiO. Full text in Research Archive
• Greaker, Mads & Lindholt, Lars (2019). Grunnrenten i norsk akvakultur og kraftproduksjon fra 1984 til 2018. Statistisk sentralbyrå (SSB). ISSN 9788258710179. Full text in Research Archive Show summary

  Ekstraordinær høy avkastning i en kommersiell sektor som baserer seg på en naturressurs omtales som grunnrente. Denne rapporten bruker nasjonalregnskapstall fra Statistisk sentralbyrå for å undersøke om det har vært grunnrente i akvakultur og kraftproduksjon i perioden fra 1984 til 2018. En robust konklusjon er at det har vært en betydelig grunnrente i disse sektorene siden år 2000.

• Andersen, Jørgen Juel & Greaker, Mads (2014). The Fiscal Incentive of GHG Cap and Trade: Permits May Be Too Cheap and Developed Countries May Abate Too Little. Handelshøyskolen BI. ISSN 1892-2198. Full text in Research Archive Show summary

  The theoretical justification for a greenhouse gas (GHG) cap and trade system is that participants will trade emission permits until their marginal cost of abatement equals the equilibrium price of emission permits. However, for fiscally constrained governments this logic does not apply, as they have a fiscal incentive to let welfare concerns, rather than industrial cost efficiency, guide their abatement policy. Then, global cost efficiency will fail even if just a (small) subset of governments are fiscally constrained. Finally, we argue that any institutional change which breaks the connection between a government's abatement policy and its budget will increase welfare.

• Greaker, Mads; Stoknes, Per Espen; Alfsen, Knut H. & Ericson, Torgeir Blikseth (2012). A Kantian approach to sustainable development indicators for climate change. CICERO Senter for Klimaforskning. Full text in Research Archive Show summary

  Agenda 21 required countries to develop and regularly update a national set of indicators for sustainable development. Several countries now have such sets also including separate indicators for climate change. Some of these indicators typically report global concentration of green house gases in the atmosphere or time series for global temperatures. While such indicators may give the public information about the state of the global climate, they do not provide a benchmark which makes it possible for the public to evaluate the climate policy of their government. With Kantian ethics as our point of departure, we propose a benchmark for national climate policy. The benchmark is that each nation state should act as if a global treaty on climate change were in place. This would require each nation state to carry out all green house gas mitigation projects below a certain cost. Furthermore, it would require each nation to keep their national green house gas emissions including acquisitions of emission permits from other countries within a certain limit. Both measures are relatively easy to track and can thus serve as indicators.

• Hoel, Michael Olaf; Greaker, Mads & Rasmussen, Ingeborg (2009). Climate policy – costs and design. TemaNord. Full text in Research Archive

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