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Climate change and Emission trading. Tool of investment

Climate change and Emission trading. Tool of investment. Governmental requirements and orders. Market-orientated solutions Subsidies Taxes Certificates. Reducing of CO2-Emissions. How can the government provide reduction of emissions?. Emission Trading in the EU. Cap and Trade system

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Climate change and Emission trading. Tool of investment

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  1. Climate change and Emission trading. Tool of investment

  2. Governmental requirements and orders Market-orientated solutions Subsidies Taxes Certificates Reducing of CO2-Emissions How can the government provide reduction of emissions? Climate change and Emission trading. Tool of investment.

  3. Emission Trading in the EU • Cap and Trade system • Cap: a certain amount of CO2-emissions for every member state • Allocation (and/or auction) of CO2-certificates (=permits) among the emitters exceeding a certain size • Trade: market participants can deal now with the certificates to each other Price formation for certificates Climate change and Emission trading. Tool of investment.

  4. Emission Trading in the EU • Supply and demand of certificates depends of the marginal abatement costs of the individual company • Companies with low abatement costs reduce their emissions and sell certificates and vice versa • Companies with high abatement buy certificates Climate change and Emission trading. Tool of investment.

  5. Economical efficiency If there are no market defects, you reach your aim to the minimum costs for the society Emission Trading, why? Important Features • Ecological effectiveness • Because of a predefined cap you definitely reach the aim Climate change and Emission trading. Tool of investment.

  6. Problems? • Baseline-problem • How to set the cap • How to allocate the permits • Control and transaction costs • Hot Air - problem Climate change and Emission trading. Tool of investment.

  7. The TIMES-Model • Linear optimisation models • Meta language for an efficient developing of energy models Consists of two parts: • Reference Energy System (RES) • Description of all possible energy, material and cash flows • Description of all possible storage, conversion and transmission processes • Values • Prices and costs for specification of the processes • Exogenous requirements Climate change and Emission trading. Tool of investment.

  8. Greifswald, a middle-sized city in the northeast of Germany ~ 55.000 citizens Main employer is the old university Hardly any industry Supply with electricity, district heat and gas is done mainly by the public services Electricity and district heat are produced by modern combined-heat-and-power plants (CHP) Heat demand is satisfied: 45% by district heating (gas) 45% by decentralise gas heating Rest is spread among oil, liquid gas, coal, wood Investigation area Climate change and Emission trading. Tool of investment.

  9. SOL WIND OIL_G GAS_G OIL_P GAS_P COL CER_FREE CER_BUY ELC DHEA_CHP_1-2 HEA CO2 ROOM_HEA HEA_LIV_SP HOUSEHOLDS ENV_GREIF ELC_HEA HOUSING IMPORT_NRG _WORLD HEAPU_HEA BUILD_TYP_1 NO_RECON CO2_CER _SUPPLY WINDOWS_RECON CO2_CER _EXPORT WALL_RECON WIND_PL FULL_RECON SOL_PL CHP_PL_1 CHP_PL_2 HEAPU_DHEA OIL_HEA GAS_HEA COL_HEA Climate change and Emission trading. Tool of investment.

  10. Work status • The Greifswald-Model is in a very early development stage • We hope, that it will be a tool, to get creative and new solutions for energy supply and climate protection • For the future, we want to link the energy-model with a regional-economic-model to forecast the effects of emission trading and climate protection to economy Climate change and Emission trading. Tool of investment.

  11. Good Visualisation of the right time for insulation and reconstruction processes Different scenarios for different basic conditions Example I Climate change and Emission trading. Tool of investment.

  12. Example II • By a high certificate price, it can be profitable for an heat supplier to invest in energy saving measures by customers • Profit of selling certificates can be higher then costs for energy saving Climate change and Emission trading. Tool of investment.

  13. Tool of investment? • Emission trading will accelerate investments when certificate price increase Permits have to be shorten by and by • Problem: Maybe it comes to a relocation to smaller systems which are not involved in emission trading Climate change and Emission trading. Tool of investment.

  14. Thank you for your attention!!! Climate change and Emission trading. Tool of investment.

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