Measurement and verification strategies for energy savings certificates: meeting the challenges of an uncertain world

Abstract: End-use energy efficiency is a cost-effective and rapidly deployable strategy for significantly reducing greenhouse gas (GHG) emissions and energy costs. Energy savings certificates (ESCs)—instruments assigning the property rights to energy savings or attributes of those savings—are becoming an effective tool for meeting energy savings and GHG targets. The efficacy of ESCs will depend on the market’s ability to (1) verify the amount of savings that they certify along with the uncertainty of those savings (i.e., quantify their value), (2) clearly assign ownership rights to that value (i.e., state exactly who owns what) and (3) efficiently buy and sell those rights between interested parties (i.e., conduct simple transactions). The measurement and verification (M&V) system governing ESCs will critically impact whether these three criteria are satisfied. An M&V system for ESCs requires the fundamental elements of an M&V system for any regulated energy-efficiency program, but must also address more explicitly the above-mentioned criteria. In this paper, the authors discuss the International Performance Measurement and Verification Protocol (IPMVP) and specific elements of an M&V system that address components of an ESC system.
Keywords: Measurement and verification - Energy savings certificates - White credits - Energy efficiency - Transaction costs


Authors:Steven Meyers1 and Steve Kromer2
(1) Rational Energy Network, 4305 Palladio Drive, Austin, TX 78731, USA
(2) 3110 College Ave, Berkeley, CA 94705, USA

References:

1. Journal Energy Efficiency Publisher Springer Netherlands ISSN 1570-646X (Print) 1570-6478 (Online) Issue Volume 1, Number 4 / November, 2008 DOI 10.1007/s12053-008-9019-5 Pages 313-321 Subject Collection Earth and Environmental Science SpringerLink Date Tuesday, August 19, 2008 [...]
   

Incentives for energy efficiency in the EU Emissions Trading Scheme

Abstract:This paper explores the incentives for energy efficiency induced by the European Union Emissions Trading Scheme (EU ETS) for installations in the energy and industry sectors. Our analysis of the National Allocation Plans for 27 EU Member States for phase 2 of the EU ETS (2008–2012) suggests that the price and cost effects for improvements in carbon and energy efficiency in the energy and industry sectors will be stronger than in phase 1 (2005–2007), but only because the European Commission has substantially reduced the number of allowances to be allocated by the Member States. To the extent that companies from these sectors (notably power producers) pass through the extra costs for carbon, higher prices for allowances translate into stronger incentives for the demand-side energy efficiency. With the cuts in allocation to energy and industry sectors, these will be forced to greater reductions; thus, the non-ET sectors like household, tertiary, and transport will have to reduce less, which is more in line with the cost-efficient share of emission reductions. The findings also imply that domestic efficiency improvements in the energy and industry sectors may remain limited since companies can make substantial use of credits from the Kyoto Mechanisms. The analysis of the rules for existing installations, new projects, and closures suggests that incentives for energy efficiency are higher in phase 2 than in phase 1 because of the increased application of benchmarking to new and existing installations and because a lower share of allowances will be allocated for free. Nevertheless, there is still ample scope to further improve the EU ETS so that the full potential for energy efficiency can be realized.

Keywords: Climate policy , Emission trading, Energy efficiency , Innovation

Authors: Joachim Schleich1, 2, 3 , Karoline Rogge1, 4 and Regina Betz5(1) Fraunhofer Institute for Systems and Innovation Research, Karlsruhe, Germany (2) Breslauer Strasse 48, 76139 Karlsruhe, Germany (3) Virginia Polytechnic Institute and State University, Blacksburg, VA, USA (4) Group for Sustainability and Technology, ETH, Zurich, Switzerland (5) Center for Energy and Environmental Markets, School of Economics, University of New South Wales, Sydney, Australia

Joachim Schleich Email: joachim.schleich@isi.fraunhofer.de

Referecnces:

1. Journal Energy Efficiency Publisher Springer Netherlands ISSN 1570-646X (Print) 1570-6478 (Online) Issue Volume 2, Number 1 / February, 2009 DOI 10.1007/s12053-008-9029-3 Pages 37-67 Subject Collection Earth and Environmental Science SpringerLink Date Thursday, September 11, 2008 [...]
   

Wave Energy and Wave Power: a small review

Wave power is the transport of energy by ocean surface waves, and the capture of that energy to do useful work — for example for electricity generation, desalination, or the pumping of water (into reservoirs). Wave power is a renewable energy source.Though often co-mingled, wave power is distinct from the diurnal flux of tidal power and the steady gyre of ocean currents. Wave power generation is not currently a widely employed commercial technology although there have been attempts at using it since at least 1890. The world's first commercial wave farm is based in Portugal,at the Aguçadora Wave Park, which consists of three 750 kilowatt Pelamis devices.[...]
Recent developments on Wave Energy:

• Wave Energy: New System Captures Significantly More Wave Energy Than Existing Systems: Scientists have designed a pilot-scale device that will capture significantly more of the energy in ocean waves than existing systems, and have used it to power an electricity-generating turbine.[1]
• Wave Power Facility Successful in Sweden: A wave energy plant located in the sea outside Lysekil, Sweden has been quite successful. For nearly three years, a wave power plant has stood on the bottom of the ocean a couple of kilometers off the west coast of Sweden, near Lysekil. The station is uniquely durable and maintenance-free because of its simple mechanical construction.[2]
• Wave Energy Potential Warrants Further Research And Development, Says EPRI: A new report from the Electric Power Research Institute (EPRI) suggests that generation of electricity from wave energy may be economically feasible in the near future. The study was carried out by EPRI in collaboration with the DOE. National Renewable Energy Laboratory (NREL) and energy agencies and utilities from six states.[3]
• Oregon May Lead Future Of Wave Energy: Significant advances in university research and other studies in the past two years are pointing toward Oregon as the possible epicenter of wave energy development in the United States. This may lead to a major initiative to expand a technology that is now in its engineering infancy, and tap the constant heave of the oceans for a new era of clean, affordable and renewable electrical power.[4]