GREAT NECK WATER POLLUTION CONTROL DISTRICT NASSAU COUNTY, NEW YORK MICROTURBINE INSTALLATION FEASIBILITY STUDY

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GREAT NECK WATER POLLUTION CONTROL DISTRICT NASSAU COUNTY, NEW YORK MICROTURBINE INSTALLATION FEASIBILITY STUDY ( great-neck-water-pollution-control-district-nassau-county-ne )

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Supercritical Carbon Dioxide Circulated EGS Combined with IGCC in New Mexico 5.2.8 Permits and Enforcement: It is the responsibility of the states to enforce a permit program to monitor emission of air pollutants. New or modified stationary sources need to acquire construction permits. Such permit requirements however include only major emitters that have to potential to emit 100 tons per year of a pollutant. In nonattainment areas permits are required to emit even 10 tons per year of Volatile Organic Compounds. States meet the costs of such a program by charging annual fees from emitters of at least $25 per ton of regulated pollutants with a voluntary cap on 4000 tons per year above which a fee may not be charged. Compliance monitoring is done by local governments through inspections and is subject to review by the federal government, which may enforce action. 5.3 Emissions Trading: Emissions trading are also known as a cap-and-trade system. To achieve reductions in emissions of pollutants, financial or economic incentives can be provided by usually a governmental body in a market allowing industries a flexible mechanism to control their emissions. The term Emissions Trading, central to economics has been defined by different authors in the following way: “A cap-and-trade system constrains the aggregate emissions of regulated sources by creating a limited number of tradable emission allowances, which emission sources must secure and surrender in number equal to their emissions.” (Judson Jaffe, Matthew Ranson and Robert N. Stavins) 5.3.1 CO2 and cap-and-trade: In the case of carbon dioxide, it is advantageous to use the cap and trade system because it has a uniform externality and does not have spatial or temporal effects unlike emissions such as sulfur dioxide which have a tendency to create ̳hot spots‘ if the emissions of the gas are largely concentrated in one area. Therefore the overall impact of carbon dioxide is the net sum of accumulated stock over a long period of time rather than a short time, say, a year (Butzengeiger, Betz and Bode, 2001). Another important consideration for this system to work is that the participating firms must be largely varied for any potential gains from trading credits. If all firms belonged to just one industry, even if emerging from different timelines would all face more or less the same costs and would not result in any net buyers or net sellers thereby resulting in a sufficiently large liquid market. This would also result in a clear price signal. It is easier for firms to make long term investment decisions since expected profits from returns on investment are much clearer. This way, a restriction on anomalies is also put in place for instance; no single participant will hold extensive market power which would restrict in trading (Quirion, 2002). Penn State University | 5.3 Emissions Trading: 88

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