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Title:
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The interaction of tradable instruments in renewable energy and climate change markets: final report
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Author(s):
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Boots, M.G.; Schaeffer, G.J.; Zoeten-Dartenset, C. de; Mitchell, C.; Anderson, T.; Morthorst, P.E.; Nielsen, L.; Kühn, I.; Bräuer, W.; Stronzik, M.; Gual, M.; Rio, P. del; Cadenas, A.
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Published by:
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Publication date:
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ECN
Policy Studies
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1-12-2001
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ECN report number:
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Document type:
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ECN-C--01-048
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ECN publication
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Number of pages:
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Full text:
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82
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Download PDF
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Abstract:
In order to meet renewable energy targets, establishing a market fortradable green certificates (TGC) is a relevant instru-ment to use.
Within the past few years green certificate markets have gained extensive
interest in Europe and elsewhere, and markets seem to be appearing in
a number of countries, among these the UK, Australia, Italy, Belgium
(Flanders), Sweden and Denmark. The main objective of the InTraCert
project is to examine the potential and implications of establishing
such an interna-tional tradable green certificate system with respect
to EU and national renewable energy policies as well as climate change
policies. Particular attention is paid to:
- the possibilities for establishing an EU-wide market for tradable
green certificates to promote an efficient deployment of renewables
across the borders of the Member States,
- to expand the TGC market to include not only renewable power production,
but also the production of biogas and green heat,
- to analyse the interactions between TGC and other market instruments
of the EU and Member States, especially trad-able emission permits (TEP)
for the power industry,
- to investigate interactions and implications for national and EU
GHG reduction policies,
- to clarify potential market distortions, trade-offs and other implications
for renewable and GHG reduction policies if the TGC and TEP-systems
are not designed appropriately.
Analyses were performed for approaching optimal designs of TGC systems,
including implications of different national systems with regard to
penalties, tradability and system boundaries, aiming at guidelines for
establishing a common EU TGC system. A number of scenarios outlines
the possible interactions between the TGC-approach and tradable emission
permits and the implications for applying these instruments in reaching
national GHG reduction targets. One of the major outcomes of the project
is a comprehensive list of policy recommendations for implementing trading
systems for renewable energy and GHG emissions at the EU and/or at the
national level.
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