* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Climate change and Emission trading. Tool of investment
Effects of global warming on human health wikipedia , lookup
Climate change mitigation wikipedia , lookup
Climate change feedback wikipedia , lookup
Climate resilience wikipedia , lookup
Global warming wikipedia , lookup
ExxonMobil climate change controversy wikipedia , lookup
Climate sensitivity wikipedia , lookup
Climate change denial wikipedia , lookup
2009 United Nations Climate Change Conference wikipedia , lookup
Emissions trading wikipedia , lookup
General circulation model wikipedia , lookup
Climate change adaptation wikipedia , lookup
German Climate Action Plan 2050 wikipedia , lookup
Climate engineering wikipedia , lookup
Attribution of recent climate change wikipedia , lookup
Climate governance wikipedia , lookup
Climate change in Tuvalu wikipedia , lookup
Climate change and agriculture wikipedia , lookup
Solar radiation management wikipedia , lookup
Climate change in Australia wikipedia , lookup
Economics of global warming wikipedia , lookup
Mitigation of global warming in Australia wikipedia , lookup
European Union Emission Trading Scheme wikipedia , lookup
Politics of global warming wikipedia , lookup
Citizens' Climate Lobby wikipedia , lookup
United Nations Framework Convention on Climate Change wikipedia , lookup
Media coverage of global warming wikipedia , lookup
Scientific opinion on climate change wikipedia , lookup
Economics of climate change mitigation wikipedia , lookup
Low-carbon economy wikipedia , lookup
Public opinion on global warming wikipedia , lookup
Climate change in Canada wikipedia , lookup
Effects of global warming on Australia wikipedia , lookup
Effects of global warming on humans wikipedia , lookup
Climate change in the United States wikipedia , lookup
Surveys of scientists' views on climate change wikipedia , lookup
Climate change, industry and society wikipedia , lookup
Business action on climate change wikipedia , lookup
Climate change and poverty wikipedia , lookup
IPCC Fourth Assessment Report wikipedia , lookup
Climate change and Emission trading. Tool of investment Reducing of CO2-Emissions How can the government provide reduction of emissions? • Governmental requirements and orders 24.05.2017 • Market-orientated solutions – Subsidies – Taxes – Certificates Climate change and Emission trading. Tool of investment. Page 2 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 24.05.2017 Climate change and Emission trading. Tool of investment. Page 3 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 24.05.2017 Climate change and Emission trading. Tool of investment. Page 4 Emission Trading, why? Important Features • Economical efficiency – 24.05.2017 If there are no market defects, you reach your aim to the minimum costs for the society • Ecological effectiveness – Because of a predefined cap you definitely reach the aim Climate change and Emission trading. Tool of investment. Page 5 Problems? • Baseline-problem – – How to set the cap How to allocate the permits • Control and transaction costs • Hot Air - problem 24.05.2017 Climate change and Emission trading. Tool of investment. Page 6 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 24.05.2017 Climate change and Emission trading. Tool of investment. Page 7 Investigation area 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 24.05.2017 Climate change and Emission trading. Tool of investment. Page 8 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 HEAPU_HEA BUILD_TYP_1 IMPORT_NRG _WORLD 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 24.05.2017 Climate change and Emission trading. Tool of investment. Page 9 Work status • The Greifswald-Model is in a very early • • 24.05.2017 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 energymodel 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. Page 10 Example I Development of reconstruction processes at increasing certificate prices 2.000,00 Thousand square meters 1.800,00 1.600,00 1.400,00 Full Reconstruction 1.200,00 Wall Reconstruction 1.000,00 Window Reconstruction 800,00 No Reconstruction 600,00 400,00 200,00 0,00 2005 2010 2015 2020 2025 2030 2035 2040 Year • Good Visualisation of the right time for insulation and reconstruction processes • Different scenarios for different basic conditions 24.05.2017 Climate change and Emission trading. Tool of investment. Page 11 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 24.05.2017 Climate change and Emission trading. Tool of investment. Page 12 Tool of investment? • Emission trading will accelerate investments • 24.05.2017 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. Page 13 Thank you for your attention!!! 24.05.2017 Climate change and Emission trading. Tool of investment. Page 14