Considerations for Emerging Markets for Energy Savings Certificates
- National Renewable Energy Lab. (NREL), Golden, CO (United States)
Early experiences with energy savings certificates (ESCs) have revealed both their merit and the challenges associated with them. In the United States, there has been little activity to date, so any lessons must be drawn from experiences in Italy, the United Kingdom (UK), France, and elsewhere. The staying power of European examples, particularly in Italy, demonstrates that ESCs can help initiate more efficiency projects. Although a robust market for renewable energy certificates (RECs) has emerged in both the voluntary and policy compliance contexts in the United States, ESCs have yet to gain significant traction. This report looks at the opportunity presented by ESCs, the unique challenges they bring, a comparison with RECs that can inform expectations about ESC market development, and the solutions and best practices early ESC market experience have demonstrated. It also examines whether there are real market barriers that have kept ESCs from being adopted and what structural features are necessary to develop effective trading programs.
- Research Organization:
- National Renewable Energy Laboratory (NREL), Golden, CO (United States)
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy (EERE), Energy Analysis (EI-30) (Energy Analysis Corporate)
- DOE Contract Number:
- AC36-08GO28308
- OSTI ID:
- 1219276
- Report Number(s):
- NREL/TP-670-44072; 5247
- Country of Publication:
- United States
- Language:
- English
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