Prices vs. percentages: Use of tradable green certificates as an instrument of greenhouse gas mitigation
نویسندگان
چکیده
We consider a regulator who seeks to achieve specific target path of greenhouse gas emission reductions in the electricity sector. Generation stems from two sources: renewable (green) and fossil (black) sources, which cause emissions. construct dynamic model explore suitability tradable green certificate (TGC) scheme for solving this problem. Further, we study resulting incentives construction new generation capacity. provide novel contribution TGC literature by using that allows analyses time-related issues are inaccessible with static models. focus explicitly on calibration time percentage requirements. devise paths show use can but always results overinvestment also derive an fee subsidy, compare different instruments, conduct welfare ranking. A is not as cost-effective optimal more effective than subsidy.
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ژورنال
عنوان ژورنال: Energy Economics
سال: 2021
ISSN: ['1873-6181', '0140-9883']
DOI: https://doi.org/10.1016/j.eneco.2021.105316