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Digitalization of the power business: How to make this work?
Published in Stein Haugen, Anne Barros, Coen van Gulijk, Trond Kongsvik, Jan Erik Vinnem, Safety and Reliability – Safe Societies in a Changing World, 2018
A.B. Svendsen, T. Tollefsen, T. Gjengedal, M. Goodwin, S. Antonsen
Although the power grids are largely built as before, the power system changes at a rapid pace. Hence, the Transmission System Operator (TSO) must be an enabler and be prepared for the future. The Norwegian aging main grid is in the process of being replaced and upgraded. The power grid takes a long time to plan and build, and have a long lead time, which contrasts strongly with an energy sector in a rapid change. The load is increasing and more generation is being installed. The Green Certificate Scheme provides incentives to expand renewable power generation, including small scale hydropower, wind power and solar power. Implementation of Automatic Meter Reading and Control Systems at the consumer level will allow for activation of consumer flexibility. Consumption patterns in the energy sector are changing rapidly (NVE, 2016).
Economic and Policy Aspects of Solar Power, and the Status of Regional Markets
Published in Alasdair Cameron, Desert Energy, 2012
‘Green certificates’ are so called because they are awarded to the producers of green or low carbon electricity – typically one certificate for each MWh. These can then be sold separately from the electricity to consumers who wish to purchase low-carbon energy, allowing the power producer to make an additional income over and above the value of the electricity. In some cases this may be through a voluntary market, where corporate or domestic consumers are willing to pay a premium for ‘green’ energy. Increasingly though green certificates form part of regional initiatives and are sold to utilities or companies that have been mandated to source a fixed percentage of their electricity from renewable or alternative energy sources – the basic principle of the Renewable Obligation or Renewable Portfolio Standards popular in the USA and UK. For example a public utility in California might be obliged to provide 33 per cent of its electricity from renewable sources (actually this is the State's 2020 target, but it will suffice as an illustration). It can do this by producing its own renewable energy, or by buying certificates from other renewable energy producers, ‘incentivising’ the production of low carbon energy. Failure to do either results in a penalty.
Successful National Financial and Industrial Strategies for the Adoption of New Renewable Energies and the Creation of Exporting Companies
Published in Clara Inés Pardo Martínez, Alexander Cotte Poveda, Environmental Sustainability and Development in Organizations, 2021
In China, the environmental production matrix has been marked by state goals established in its five-year plans for the electricity sector. These include mandatory fees for the purchase of green energy by large state distributors, which entails the stability of sales for new generators and allocation of negotiable Green Certificates on the stock exchange, which improves their profitability. The feed-in-tariff strategy also encouraged large investments (up to June 2018) and the adoption of distributed systems. Since 2015 (CREO 2017), the government authorized auctions for the largest generation of electricity to promote the fulfillment of the goals of production of 15% of its electricity with renewable resources in 2020 and 20% in 2030.
Evaluating the cost impacts to meet China’s renewable electricity portfolio standard target in 2030
Published in International Journal of Green Energy, 2023
Yanbo Feng, Feng Song, Peilin Chen
To accelerate the development of renewable energy, China’s National Energy Administration (NEA) released the Renewable Portfolio Standard (RPS) in 2021.2Source: http://nyj.yq.gov.cn/zxdt/202102/t20210218_1128635.html. Minimum targets for the share of non-hydro renewable electricity (mainly wind and solar Photovoltaics) in the total electricity consumption for individual provinces were issued, with the targets ranging from 3.5% to 20% by the end of 2030. The electricity sellers and industrial users that are unable to meet the minimum renewable electricity consumption requirement can either purchase green certificates or purchase renewable consumption quotas directly from companies that have met the minimum requirement and have surplus quotas. This new policy prioritizes renewable energy in electricity generation, promotes direct trading, and encourages the consumption of renewable energy across provinces. Provincial governments are responsible for developing renewable electricity consumption plans to meet the RPS target set by the central government at minimal cost. They need to trade off developing their own renewables or buying from other provinces.
Can environmental regulations facilitate total-factor efficiencies in OECD countries? Energy-saving target VS emission-reduction target
Published in International Journal of Green Energy, 2023
Yun Wang, Yan Dong, Xiaohua Sun
The improvement of energy consumption structure through increasing the ratio of renewable energy consumption is beneficial for decreasing both energy conservation and emission reduction. Due to the high reliance on fossil fuels in industrial production, it is hard for the promotion and popularization of renewable energy. In this case, the governments implement industrial policies to help the development of renewable energy technology and product (Yao et al. 2019). Specifically, the implementation of green certificates provides the market trading mechanism of renewable energy generation, and meanwhile a direct financial incentive for renewable energy power plants. As for the feed-in tariff policy, the governments provide subsidies to renewable energy (such as solar or wind energy) power plants and promise an above-market price, to promote the generating capacity of renewable energy indirectly. R&D subsidies, financially supported by governments as well, are granted to the firms or institutions which carry out R&D activities of developing renewable energy technology. It is conducive to reducing the R&D costs of firms and promoting research on renewable energy technology.
Identifying Research Priorities for the further development and deployment of Solar Photovoltaics
Published in International Journal of Sustainable Energy, 2019
Serafeim Michas, Vassilis Stavrakas, Niki-Artemis Spyridaki, Alexandros Flamos
Focusing on the more innovative financing schemes, leasing allows a company to install a PV system on a customer’s rooftop, and the customer has to pay a monthly ‘rent’ to the installing company for a specific period of time (Dunlop and Roesch 2016). With leasing, the upfront costs of PV installations are not a barrier for customers (PV Dunlop and Roesch 2016; Financing 2016b). An even more innovative form of leasing is the sales and lease back scheme, which is very promising especially for the commercial sector. In this scheme, the PV owner sells the PV system to an investor in order to lease it back for use. That way the initial owner can use the capital in other innovative projects (Dunlop and Roesch 2016). Another promising form of PV financing is crowdfunding, in which many ‘small’ investors finance a PV project. Crowdfunding can be equity based, in which investors hold ownership shares of the system, in the form of financial grants, or combined with loans (Dunlop and Roesch 2016; PV Financing 2016b). Green cooperatives are a form of crowdfunding in which mainly companies sell shares of a project to ‘small investors’ who in turn receive revenue according to the shares they own (Dunlop and Roesch 2016). Finally, green certificates are tradeable assets which validate the amount of renewable energy produced. These assets are awarded to renewable energy producers, who in turn can sell them to supplying companies who have not reached their renewable obligation target (VREG 2017).