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Pros and cons of alternative policies aimed at promoting renewables

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  • Finon, Dominique

    ()
    (Centre International de Recherche sur l'Environnement et le Developpement, France)

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    Abstract

    Following a brief review of the rationale for promoting renewable energy sources, this paper compares alternative policies to promote the production of renewable electricity. The focus is on feed-in tariffs (used in Germany, Spain, and France - for instance) and tradable green certificate (TGC) systems (United Kingdom and Italy, for instance). Considering economic theory and practical experience, the criteria for comparing these two alternatives are: cost-effectiveness, environmental effectiveness, and compatibility with market liberalisation. The paper argues that economic theory does not suggest a clear-cut advantage of one instrument over the other and it emphasises that, in any event, the choice of instrument depends on the relative importance attached to these criteria and on cultural factors such as faith - or lack thereof - in markets to help solve environmental problems. In this context, the paper questions the practical usefulness of a European-wide TGC system.

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    File URL: http://www.eib.org/attachments/efs/eibpapers/eibpapers_2007_v12_n02_en.pdf#page=112
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    Bibliographic Info

    Paper provided by European Investment Bank, Economics Department in its series EIB Papers with number 11/2007.

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    Length: 24 pages
    Date of creation: 25 Jun 2007
    Date of revision:
    Handle: RePEc:ris:eibpap:2007_011

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    Keywords: Renewable energy sources; feed-in tariffs; green certificates;

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    Cited by:
    1. Joan Canton & �sa Johannesson Lind�n, 2010. "Support schemes for renewable electricity in the EU," European Economy - Economic Papers 408, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    2. Verbruggen, Aviel, 2009. "Performance evaluation of renewable energy support policies, applied on Flanders' tradable certificates system," Energy Policy, Elsevier, vol. 37(4), pages 1385-1394, April.

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