Implications of Carbon Regulation for Green Power Markets

Bird, Lori; Holt, Ed; Carroll, Ghita Levenstein

doi:10.2172/1219270

Cited by 4 publications

(3 citation statements)

References 2 publications

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“…According to the Electricity Market Capacity Building Planning (EMCBP), 6 Chinese middle-and long-run objective is to establish six regional electricity markets, then, gradually transfer to a uniform national electricity market. Therefore, when government plans domestic carbon markets, it is strategic to make them compatible with electricity market: in aspects of geographical scope, trade period, and regulatory rules.…”

Section: Build Synergy Between Mitigation Approaches and Electricity mentioning

confidence: 99%

Combinatorial Mitigation Actions: A Case Study on European Union’s Electricity Sector

Fu¹

2017

IJEEE

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Appropriate Greenhouse Gas (GHGs) mitigation action has become a promising concern because of its feasibility and sustainability. This article reviews mitigation approaches taken by European Union's electricity sector to promote appropriate reduction in large developing country. From an applicable and integrated aspect, it examines Emission Trading Scheme (EU ETS), carbon tax, Clean Development Mechanism, Joint Implementation, green electricity market, carbon capture and sequestration, and energy efficiency. Then the successful experiences and lessons on this case are identified. The former include: allow diverse approaches coexistence, establish ancillary service system, and make carbon market serve for electricity market. The latter contain that price fluctuates inappropriately, obligation is distorted, no banking for allowances operated in the first period, and part of abatement approaches conflict mutually. Based on these results, this article proposes a framework of combinatorial mitigation actions which is characterized as integral, collaborative and appropriate reduction. It is composed of: i) construct intensity-based carbon market; ii) make diverse approaches collaborative; iii) build synergy between mitigation approaches and electricity market; iv) enhance carbon management and auditing system; and v) reform aging power plants with low carbon technologies. Although numerous challenges lie ahead, this framework has the potential to reduce GHGs from electricity industry extensively and sustainably.

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Section: Build Synergy Between Mitigation Approaches and Electricity mentioning

confidence: 99%

Combinatorial Mitigation Actions: A Case Study on European Union’s Electricity Sector

Fu¹

2017

IJEEE

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“…Thus, while efficiency provides emissions benefits and will make it easier to comply with the cap, efficiency measures do not affect overall carbon emissions because the emitters will simply use any allowances that are freed-up by the efficiency measures to meet the cap. While they have not been adopted in these programs, set-asides or other allocation measures may be used in capand-trade programs to credit indirect emissions sources that provide emissions benefits (such as efficiency), which would potentially enable ESCs to play in carbon markets (Bertoldi et al 2005, Bird et al 2007). Set-asides for renewables and efficiency have been used in some NOx cap-and-trade programs and a set-aside was recently proposed in federal climate legislation (Jacobson and High 2008).…”

Section: Carbon Cap and Tradementioning

confidence: 99%

Considerations for Emerging Markets for Energy Savings Certificates

Friedman¹,

Bird²,

Barbose³

2008

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“…Previously, others addressed the issue of defining RECs, but none provided systematic or quantitative analyses or proposed comprehensive solutions [7][8][9][10][11]. More recently, Holt, Sumner et al [5] at NREL asked the question "do RECs play a direct role in new project development?"…”

Section: Introductionmentioning

confidence: 99%

Additionality of wind energy investments in the U.S. voluntary green power market

Gillenwater

Fischlein

2014

Renewable Energy

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In the United States, electricity consumers are told that they can "buy" electricity from renewable energy projects, versus fossil fuel-fired facilities, through participation in voluntary green power markets. The marketing messages communicate to consumers that they are causing additional renewable energy generation and reducing emissions through their participation and premium payments for a green label. Using a spatial financial model and a database of registered Green-e wind power facilities, the analysis in this paper shows that the voluntary Renewable Energy Certificate (REC) market has a negligible influence on the economic feasibility of these facilities. Nevertheless, voluntary green power marketers at least implicitly claim that buying their products creates additional renewable energy. This study indicates the contrary. Participants in U.S. voluntary green power markets associated with wind power, therefore, appear to be receiving misleading marketing messages regarding the effect of their participation. In the process of completing this analysis, a potentially relevant factor in explaining investor behavior was identified: the potential for the overlap of voluntary REC markets with compliance REC markets that supply utilities need to meet their obligations of Renewable Energy Portfolio Standard (RPS). The majority of state RPS rules allow for regional or even national sourcing of RECs, meaning that projects are generally eligible to provide compliance RECs to utilities not only in their home states, but in several other states.Keywords: green power, renewable energy certificates, wind power, renewable portfolio standard Highlights• We use a spatial financial model and a database of registered Green-e wind power facilities.• Investments in wind power projects are not additional due to the voluntary REC market.• Rather, they appear to be more influenced by compliance REC markets.• Claims within the voluntary REC market regarding emission reductions are not substantiated.

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Implications of Carbon Regulation for Green Power Markets

Cited by 4 publications

References 2 publications

Combinatorial Mitigation Actions: A Case Study on European Union’s Electricity Sector

Combinatorial Mitigation Actions: A Case Study on European Union’s Electricity Sector

Considerations for Emerging Markets for Energy Savings Certificates

Additionality of wind energy investments in the U.S. voluntary green power market

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