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Towards an international tradable green certificate system--The challenging example of Belgium

Author

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  • Verhaegen, Karolien
  • Meeus, Leonardo
  • Belmans, Ronnie

Abstract

In Europe, a common framework for renewable energy sources (RES) is aspired. Tradable green certificates (TGCs) are a market-based cost-efficient means to stimulate electricity production from RES. Since TGCs are the most widespread support scheme in Europe together with feed-in tariffs, chances are that a common European framework could well be based on TGCs. However, while integrating currently existing different national TGC systems, any remaining differences should be carefully considered. Just how difficult the creation of an international TGC market would be is illustrated in this paper by the case of Belgium, where no less than 4 different TGC systems exist nowadays. The example of Belgium illustrates that harmonizing different TGC systems is easier said than done and represents a serious challenge. This clearly illustrates that a single European support scheme for RES, however desirable, is still far in the future.

Suggested Citation

  • Verhaegen, Karolien & Meeus, Leonardo & Belmans, Ronnie, 2009. "Towards an international tradable green certificate system--The challenging example of Belgium," Renewable and Sustainable Energy Reviews, Elsevier, vol. 13(1), pages 208-215, January.
  • Handle: RePEc:eee:rensus:v:13:y:2009:i:1:p:208-215
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    References listed on IDEAS

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    1. Morthorst, P. E., 2000. "The development of a green certificate market," Energy Policy, Elsevier, vol. 28(15), pages 1085-1094, December.
    2. Meyer, Niels I., 2003. "European schemes for promoting renewables in liberalised markets," Energy Policy, Elsevier, vol. 31(7), pages 665-676, June.
    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.
    4. Nielsen, Lene & Jeppesen, Tim, 2003. "Tradable Green Certificates in selected European countries--overview and assessment," Energy Policy, Elsevier, vol. 31(1), pages 3-14, January.
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    Cited by:

    1. Zhou, Huizhong & Tamas, Meszaros Matyas, 2010. "Impacts of integration of production of black and green energy," Energy Economics, Elsevier, vol. 32(1), pages 220-226, January.
    2. Darmani, Anna & Rickne, Annika & Hidalgo, Antonio & Arvidsson, Niklas, 2016. "When outcomes are the reflection of the analysis criteria: A review of the tradable green certificate assessments," Renewable and Sustainable Energy Reviews, Elsevier, vol. 62(C), pages 372-381.
    3. Brzezińska-Rawa, Anna & Goździewicz-Biechońska, Justyna, 2014. "Recent developments in the wind energy sector in Poland," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 79-87.
    4. Bergek, Anna & Jacobsson, Staffan, 2010. "Are tradable green certificates a cost-efficient policy driving technical change or a rent-generating machine? Lessons from Sweden 2003-2008," Energy Policy, Elsevier, vol. 38(3), pages 1255-1271, March.
    5. Nagl, Stephan, 2013. "Prices vs. Quantities: Incentives for Renewable Power Generation - Numerical Analysis for the European Power Market," EWI Working Papers 2013-4, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).
    6. Frondel, Manuel & Schmidt, Christoph M. & aus dem Moore, Nils, 2012. "Marktwirtschaftliche Energiewende: Ein Wettbewerbsrahmen für die Stromversorgung mit alternativen Technologien. Ein Projekt im Auftrag der Initiative Neue Soziale Marktwirtschaft," RWI Projektberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, number 69954, March.
    7. Lüthi, Sonja & Wüstenhagen, Rolf, 2012. "The price of policy risk — Empirical insights from choice experiments with European photovoltaic project developers," Energy Economics, Elsevier, vol. 34(4), pages 1001-1011.
    8. Malte Hübner & Christoph M. Schmidt & Benjamin Weigert, 2012. "Energiepolitik: Erfolgreiche Energiewende nur im europäischen Kontext," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 13(4), pages 286-307, November.
    9. repec:eee:rensus:v:76:y:2017:i:c:p:1422-1439 is not listed on IDEAS
    10. Xin-gang, Zhao & Tian-tian, Feng & Lu, Cui & Xia, Feng, 2014. "The barriers and institutional arrangements of the implementation of renewable portfolio standard: A perspective of China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 30(C), pages 371-380.
    11. Darmani, Anna, 2015. "Renewable energy investors in Sweden: A cross-subsector analysis of dynamic capabilities," Utilities Policy, Elsevier, vol. 37(C), pages 46-57.
    12. repec:eee:rensus:v:75:y:2017:i:c:p:490-503 is not listed on IDEAS

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