the latters economic cost structure with high fixed cost and low variable costs does not match up well with the risk preferences of private investors based on financial considerations alone the latter will always prefer low fixed cost and high variable cost technologies even at comparable discounted lifetime costs this however corresponds to the cost structure of carbonintensive technologies based on fossil fuels it is thus comprehensible and wherever relevant decisionmaking processes have concluded favourably justifiable that public policy takes on a special role in promoting lowcarbon technologies