4.1. Overview of the tradable green certificates system The support system for renewable energy in

The objective of this paper is twofold. First, we introduce the modern condition of Canada’s energy consumption and the economic benefits. Second, we define and analyze the projections of Canada’s future with respect to the renewable energy frontier. The demand for Energy across the globe has drastically increased since the Industrial revolution. From coal to steam, all the way to electricity and nuclear energy, modern economies and industries rely on sustainable sources of energy to produce their desired output levels (Zelby 2002). Ontario, and Canada in general are on the frontier of energy production and sustainability with regards to smart grid technologies and so forth (Ontario Energy Plan). Canada specializes in many of the

Renewable energy has currently become a significant aspect in the countries generation, combination, and a constitution focus of government policy for energy, and environmental protection. As a result of public’s growing responsibility for the environment and constantly binding rules, and regulations of emission in the electric power industry, government has facilitated policies to boost the amount of renewable energy in the electricity generation portfolio. Additionally, the generation of electricity from renewable resources creates insufficient, and frequently, zero emissions of pollutants that comes from traditional fossil fuel production technologies. The additional use of renewable energy aids utilities in their emission agreement obligations. Furthermore, the anticipation of agreement with any future carbon emissions management would further toughen the incentive to move towards cleaner electricity creating technologies (Langwith, 2009).

In the common language, ‘western countries’ refer to western European countries and the U.S. for their economic model and their level of development. However, when it comes to politics of energy, an interesting gap between the U.S. and its European brothers and sisters appears. An interesting example is Portugal who, according to the New York Times, already collects 45% of its electricity from renewable energy sources, compared to 12% in the United States.

The big countries like US, Canada, Brazil, China and Germany still have the greatest renewable power generation capacity. These countries seem to rule when it comes to renewable energy source. For the first time, China’s new renewable power capacity has passed new fossil fuel and nuclear capacity. In the 2014 edition of the REN21 report it states that, while Europe and North America have become the top markets for renewable energy, other countries have seemed to pick up some of baggage and could also be the future leaders of it. REN21 has found so

Renewable energy: Under the Electricity Act 2003 and the National Tariff Policy 2006, the central and the state electricity regulatory commissions must purchase a certain percentage of grid-based power from renewable sources.

In this document, the intent is to give an overview at the viability and emphasis on clean energy. There are five different venues of alternate energy sources, being that

Another way governments have been trying to implement renewable energy is through feed-in tariffs. Feed-in tariffs usually consist of some type of purchase obligation and also a tariff payment on renewable energy that is fixed for every unit of electricity (Jacobs, 2012, p. 43). The grid operator involved in the purchase obligation must buy the renewable electricity no matter what (Jacobs, 2012, p. 43). The producer has the right to a certain amount of money for every unit of electricity that they produce (Jacobs, 2012, p. 43).

These credits are required by large-scale renewable energy target (LRET) to be purchased by electric utilities (Australian Department of the Environment). This trade off guarantees the small generators to be used, and keeping Australia on track for their target goal of 23.5% by 2020. However, the LRET has more policies and policy instruments than ensuring small-scale renewable generator’s STCs are being bought. LRET’s main goal is to incentivise creating or expanding of large-scale renewable energy power (Australian Department of the Environment). It is with incentivising these large-scale renewable power stations Large-scale Generation Certificates (LGC) are given out for each MW-hour of renewable energy. Which like with STCs are obligated to be bought by electric retailers or electric distributors (Australian Department of the Environment).

The customers for the emission trading system are the corporates who buy carbon credit and the individuals who sell their carbon credits to the system. The bargaining power of the corporations are very high but the bargaining power of individual customers are relatively low

Perhaps the most important question in this research would be “what is Energiewende?” This whole research is based on the policies and goals written in this program, and it is crucial to begin with an overview of this daring plan. There are four main political objectives in this integrated policy “fighting climate change (through a reduction of CO2 emission), phasing-out nuclear power, improving energy security (through a reduction of fossil-fuel imports), and guaranteeing competiveness and growth (through industrial policies targeting technological, industrial, and employment development)” (Agora, 2015, p. 9). In order to reach these targets, mid-term and long term goals are set every 10 years until 2050 to keep the progress. For example, in year 2030, carbon dioxide emission in all sectors has to decrease by 55% compared to 1990

Feed-in tariffs as well as feed-in premiums supported renewable electricity generation. These rates were guaranteed for 20 years with hydropower generators’ rates being guaranteed for 30 years. Additionally, investment support and green bonuses were given to renewable heating sources. Furthermore, a sharp decline in the prices of solar panels led the Czech Republic to become the 4th largest in terms of newly installed photovoltaic systems (5).

Moreover, the source of 42 % of electricity generated in the country is brown and black coal (International Energy Agency 5). Thus traditional sources of energy are crucial for the normal functioning of its economic. However, the current task of the German government in the energy sector is to make Germany the first country in the world which by 2050 will fully switch to energy derived from environmentally friendly sources. From a technical and economic point of view, this plan is realizable even on the basis of already existing technologies according to experts of the Federal Agency for the Environment.

In the power sector of Poland, coal takes the gold. It is the largest source of greenhouse gas emissions as well as a major employer. Under Poland’s new energy plan, it is set to prioritise long-term energy security, putting a strong hold on reducing greenhouse gas emissions and air pollution, while increasing energy efficiency and decarbonising the transport system (IEA 2017). There are over 770 hydropower plants in poland. For many years, water has been a dominant source of energy produced from renewable sources. Most polish hydropower resources are located in the area of the Vistula River. In certain policy documents, such as Poland’s Energy Policy until 2030 and he National Action Plan in the Field of Renewable Energy, hydropower is

This major review afforded stakeholders the opportunity to evaluate the methodology, inputs to the existing model, incorporate Feed-In Tariffs (FITs) for renewable energy (wind, biomass, solar and small hydro) and develop tariffs for coal-fired generators. Some of the assumptions reviewed included: Available generation capacity, Forecast of electricity demand, Expansion of the transmission and distribution networks, Capital expenditure (capex), Actual and projected sales, Operating costs (opex),

People and companies have different motives of why they choose natural sources of energy into comparison with the traditional use of oil, electricity, and gas. This could be explained not only by the increasing prices for utilities but also because of the urgent need to fight for environmental protection. The natural resources of the planet are quite limited and with the growing population of the world challenges with fulfilling the needs of humanity will become only more severe. With these tendencies present, it becomes clear, that alternative energy resources will become one of the most perspective business sectors that are capable of not only delivering comprehensive solutions for businesses and residents