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Assessing the advantages and drawbacks of government trading of guarantees of origin for renewable electricity in Europe

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  • Ragwitz, Mario
  • del Río González, Pablo
  • Resch, Gustav

Abstract

The European Commission has proposed a new Renewable Energy Directive, which includes flexibility provisions allowing the cost-effective attainment of the ambitious target for renewable energy of 20% of energy consumption, which has been set for the year 2020. One of the flexibility provisions currently being considered is to allow countries to reach their individual targets by buying their renewable electricity deployment deficit from other countries with a surplus (i.e., with a renewable electricity deployment above their targets). This trade is likely to take the form of an exchange in guarantees of origin (GOs). GOs are currently implemented in Member States to fulfil the Renewable Electricity Directive requirement that each country has a system that allows the tracing of the source of each kWh of renewable electricity and informs on this source. Although the recent and tiny literature on the analysis of GO trading has focused on trade between firms, the exchange of GOs between governments has not received a comparable attention. This paper analyses the advantages and drawbacks of a system of government trading of GOs with respect to company trading.

Suggested Citation

  • Ragwitz, Mario & del Río González, Pablo & Resch, Gustav, 2009. "Assessing the advantages and drawbacks of government trading of guarantees of origin for renewable electricity in Europe," Energy Policy, Elsevier, vol. 37(1), pages 300-307, January.
  • Handle: RePEc:eee:enepol:v:37:y:2009:i:1:p:300-307
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    References listed on IDEAS

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    1. Madlener, Reinhard & Stagl, Sigrid, 2005. "Sustainability-guided promotion of renewable electricity generation," Ecological Economics, Elsevier, vol. 53(2), pages 147-167, April.
    2. del Rio, Pablo & Gual, Miguel A., 2007. "An integrated assessment of the feed-in tariff system in Spain," Energy Policy, Elsevier, vol. 35(2), pages 994-1012, February.
    3. Menanteau, Philippe & Finon, Dominique & Lamy, Marie-Laure, 2003. "Prices versus quantities: choosing policies for promoting the development of renewable energy," Energy Policy, Elsevier, vol. 31(8), pages 799-812, June.
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    Citations

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    Cited by:

    1. Haas, Reinhard & Resch, Gustav & Panzer, Christian & Busch, Sebastian & Ragwitz, Mario & Held, Anne, 2011. "Efficiency and effectiveness of promotion systems for electricity generation from renewable energy sources – Lessons from EU countries," Energy, Elsevier, vol. 36(4), pages 2186-2193.
    2. Sovacool, Benjamin K., 2011. "The policy challenges of tradable credits: A critical review of eight markets," Energy Policy, Elsevier, vol. 39(2), pages 575-585, February.
    3. Patlitzianas, Konstantinos & Karagounis, Konstantinos, 2011. "The progress of RES environment in the most recent member states of the EU," Renewable Energy, Elsevier, vol. 36(2), pages 429-436.
    4. Klinge Jacobsen, Henrik & Pade, Lise Lotte & Schröder, Sascha Thorsten & Kitzing, Lena, 2014. "Cooperation mechanisms to achieve EU renewable targets," Renewable Energy, Elsevier, vol. 63(C), pages 345-352.
    5. repec:eee:rensus:v:80:y:2017:i:c:p:519-530 is not listed on IDEAS
    6. Schröer, Sebastian & Zierahn, Ulrich, 2009. "Die deutschen Ausbauziele für erneuerbare Energien: Eine Effizienzanalyse," HWWI Research Papers 1-27, Hamburg Institute of International Economics (HWWI).
    7. Krajacic, Goran & Duic, Neven & Tsikalakis, Antonis & Zoulias, Manos & Caralis, George & Panteri, Eirini & Carvalho, Maria da Graça, 2011. "Feed-in tariffs for promotion of energy storage technologies," Energy Policy, Elsevier, vol. 39(3), pages 1410-1425, March.
    8. Sovacool, Benjamin K., 2010. "A comparative analysis of renewable electricity support mechanisms for Southeast Asia," Energy, Elsevier, vol. 35(4), pages 1779-1793.
    9. Foidart, F. & Oliver-Solá, J. & Gasol, C.M. & Gabarrell, X. & Rieradevall, J., 2010. "How important are current energy mix choices on future sustainability? Case study: Belgium and Spain--projections towards 2020-2030," Energy Policy, Elsevier, vol. 38(9), pages 5028-5037, September.

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