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Integratation of Tradable Green Certificate Markets: What can be expected?

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Author Info
Amundsen, Eirik S.
Nese, Gjermund

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Abstract

Recently, many countries have introduced systems of tradable green certificates (TGCs) in order to increase the proportion of their electricity supply obtained from renewable sources. The main objective of this paper is to investigate the analytics of a TGC system of the Nordic type when integrated within several countries and to determine what can be expected from the system when applied in a real world setting. Both an analytical and a partial equilibrium version of the model are applied. In particular, we ask whether it is possible to derive analytically clear cut results with respect to how the system affects generation of electricity from renewable resources, and from carbon emitting resources, in the same way as it is possible for other known policy instruments such as an emission permit system or a plain carbon emission tax. A key result is that TGCs may be an imprecise instrument for regulating the generation of green electricity and that the combination of TGCs with a system of tradable emission permits may yield outcomes contrary to the intended purpose.

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File URL: http://mpra.ub.uni-muenchen.de/10628/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10628.

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Date of creation: 2006
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Handle: RePEc:pra:mprapa:10628

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Related research
Keywords: Renewable energy; electricity; green certificates; emissions trading;

Find related papers by JEL classification:
Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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  1. D. Finon & Philippe Menanteau, 2003. "The Static and Dynamic Efficiency of Instruments of Promotion of Renewables," Post-Print halshs-00001300_v1, HAL. [Downloadable!]
  2. Jensen, Stine Grenaa & Skytte, Klaus, 2003. "Simultaneous attainment of energy goals by means of green certificates and emission permits," Energy Policy, Elsevier, vol. 31(1), pages 63-71, January. [Downloadable!] (restricted)
  3. Amundsen, Eirik S. & Mortensen, Jorgen Birk, 2001. "The Danish Green Certificate System: some simple analytical results," Energy Economics, Elsevier, vol. 23(5), pages 489-509, September. [Downloadable!] (restricted)
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  4. Butler, L. & Neuhoff, K., 2005. "Comparison of Feed in Tariff, Quota and Auction Mechanisms to Support Wind Power Development," Cambridge Working Papers in Economics 0503, Faculty of Economics, University of Cambridge. [Downloadable!]
  5. Torstein Bye, 2003. "On the Price and Volume Effects from Green Certificates in the Energy Market," Discussion Papers 351, Research Department of Statistics Norway. [Downloadable!]
  6. Eirik Amundsen & Fridrik Baldursson & Jørgen Mortensen, 2006. "Price Volatility and Banking in Green Certificate Markets," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 35(4), pages 259-287, December. [Downloadable!] (restricted)
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