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Assessment of Potential and Promotion of New Generation of Renewable Technologies ____________________________________________________________________________________________ It is sometimes argued that with the EU Emissions Trading System (ETS) in operation, the effectiveness of all other policies to reduce CO2 emissions of the participating sectors becomes zero. The logic behind this argument is that using the example of the German feed-in-tariffs, these lead to a substitution of some fossil based electricity with more expensive renewables based electricity, thus reducing the demand of the German power sector for CO2 emissions certificates. Under the EU ETS, excess emissions certificates would be sold at decreasing prices to other member states, which would increase CO2 emissions by the exact same amount by which Germany’s emissions decreased beforehand. Renewables support schemes were thus not able to reduce EU-wide CO2 emissions below the EU ETS cap, but rather led to a shift of emissions to other EU member states. In fact, by reducing the price of the certificates, the feed-in-tariffs actually decreased incentives for other EU member states to invest in renewable energy sources. According to this argument, carbon benefits thus solely depended on the level of the EU ETS cap and not on renewables support measures. Similarly, the global impact of the EU ETS was negligible, because it shifted emissions to other parts of the world in the absence of a global emissions trading system. This line of argument disregards some key systemic characteristics of the EU ETS as well as several other key benefits of renewable energy sources that warrant their continued support. These benefits include, amongst others, improvements in the security of supply, a reduction of the long-term price volatility the EU is subject to as a result of its dependence on imported fossil fuels, as well as increases in the competitiveness of EU energy technology industry. Similarly, expected effects of national renewables policies should have been taken into account by member states when the aggregate EU ETS cap was defined. Emissions budgets for Phase III of the EU ETS (starting from 2013) were established according to targets and expectations of future emissions. This includes a multitude of individual emissions reduction measures – also in sectors not covered by the EU ETS, such as agriculture and renewable energy sources. Unintentional effects on the price of EU carbon allowances are thus only possible if future renewable electricity production reduces GHG emissions by an amount larger than anticipated. On the other hand, a more stringent EU ETS after 2013 may facilitate corporate investments into RES, and incentives should be created to do so (e.g. using revenues of auctioning). All in all, there is a case for continued support to renewables, however, a common European support scheme should be considered replacing the different national schemes currently in place. The third internal energy market package has been designed to ensure that internal electricity and gas markets operate smoothly in the future. This has been done in the belief that a well-functioning internal market in electricity should provide producers with the appropriate incentives for investing in new power generation, including in electricity from renewable energy sources. The internal market package thus aims to reduce barriers for renewables and to facilitate access of electricity from renewables to the network. Most importantly, there needs to be legal certainty for investments in electricity generation from renewable energy sources. This also needs to address regulatory frameworks for interconnectors and offshore transmission, which vary greatly from country to country. Network codes introduced in the 3rd energy package should improve the situation when successfully made binding. However, it should be noted that the comitology procedure gives the member states full discretion to influence the contents of the codes and the final outcome may thus differ from the common position reached by the regulators and TSOs. Putting in place proper incentives for investments in the grid, including in interconnections, will also require shortened and streamlined permitting processes. IP/A/ITRE/ST/2009-11 & 12 PE 440.278 xixPDF Image | Policy Department Renewable Technologies
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