Assessment of White Certificate Schemes and Their Integration into the Carbon Markets
Recently a number of countries have introduced market-based instruments to foster
energy efficiency improvements. Some of these schemes are based on quantified energy savings
targets for energy distributors or suppliers, coupled with a certification of the energy savings (via
white certificates), and a possibility to trade certificates. This policy instrument often targets
parts of the sectors (e.g. power generation) that are subject to carbon reduction targets (mainly
under cap-and-trade schemes). The paper presents an up-to-date review of white certificate
schemes in Europe, and analyses results achieved so far. It discusses design and operational
features that are key to achieve the overall saving targets. Delineation of the scheme in terms of
eligible projects, technologies and parties, institutional structure and processes to support the
scheme are among the issues discussed. The paper analyses the arguments for and against
integration of white certificates with CO2 emission trading in order to achieve the maximum
environmental benefit as well as a high degree of economic efficiency, and evaluates the
implications of integration in practice.
BERTOLDI Paolo;
REZESSY Silvia;
PAVAN Marcella;
2006-11-16
ACEEE
JRC33572
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