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Department of Economics, University of Bergen Working Papers in Economics, Department of Economics, University of Bergen

No 06/16:
Simultaneous use of black, green, and white certificates systems: A rather messy business

Eirik Schrøder Amundsen () and Torstein Bye ()

Abstract: We formulate a model with black, green and white certificates markets that function in conjunction with an electricity market. The markets function well in the sense that a common equilibrium solution exist, where all targets are satisfied (e.g. share of green electricity and share of energy saving/efficiency increase.) The equilibrium solution adapts to changing targets (e.g. harsher target on energy saving), but it is in general impossible to tell whether this will lead to more, less, or unchanged consumption of ”black”, ”green” or ”white” electricity. These, markets give thus a poor guidance for future investments in green and white electricity. In order to get clear cut results, specific assumptions of parameter values and functional forms are needed. An example of this, based on a calibrated model founded on Norwegian data, is provided in the article. Also, gains and losses in terms of consumer’s and producer’s surpluses are calculated.

Keywords: Renewable energy; Electricity; Green Certificates; White Certificates; (follow links to similar papers)

JEL-Codes: C70; Q28; Q42; Q48; (follow links to similar papers)

26 pages, June 27, 2016

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