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Paolo Bertoldi, paper # 7203
White, Green & Brown Certificates: How to make the
most of them?
Author one:
Paolo Bertoldi
Affiliation
European Commission, DG JRC
Address
I-21020 ISPRA (VA), Italy
Email:
paolo.bertoldi@cec.eu.int
Author two:
Silvia Rezessy
Affiliation
Central European University
Address
Nador u. 9, H-1051 Budapest, Hungary
E-mail
ephlas01@phd.ceu.hu
Author three: Ole Langniss
Affiliation
Centre for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW)
Address
Industriestrasse 6, 70565 Stuttgart, Germany
Email
ole.langniss@zsw-bw.de
Author four:
Monique Voogt
Affiliation
Ecofys BV
Address
P.O. Box 8408; NL-3503 RK Utrecht; The Netherlands
Email
M.Voogt@Ecofys.nl
Keywords
white and green certificates, emissions trading, integration
Abstract
Recently a number of market-based instruments (MBIs) have been introduced to achieve sustainable energy policy
goals. The most prominent MBIs are tradable permits and certificates introduced to attain CO2 or other pollutant
emission reductions, to promote market-driven penetration of renewable energy sources (green certificates), and,
more recently, to foster energy efficiency improvements (white certificates). These policy instruments often target
parts of the same sectors (e.g. power generation). The paper identifies design and operational features that the MBIs
in the energy sector share and analyses how these features have been implemented in existing schemes, especially in
those with relatively longer track record. Creation of demand, organisation of markets and institutional requirements
are among the issues discussed. Possible ways to integrate or link different schemes are investigated in order to
achieve the maximum environmental benefit as well as a high degree of economic efficiency, including practical
suggestions for a potential integration of white and green certificates and a possible further integration with CO2
emission trading; the idea of a set-aside quota o