EconPapers    
Economics at your fingertips  
 

Analysis of the EU policy package on climate change and renewables

Pantelis Capros, Leonidas Mantzos, Leonidas Parousos, Nikolaos Tasios, Ger Klaassen and Tom Van Ierland
Authors registered in the RePEc Author Service: Leonidas Paroussos ()

Energy Policy, 2011, vol. 39, issue 3, 1476-1485

Abstract: In 2009 the EU decided to reduce greenhouse gas emissions at least by 20% in 2020 compared to 1990 and to supply 20% of energy needs by 2020 from renewable energy sources. This paper uses an energy model coupled with a non-CO2 greenhouse gas model to assess the range of policy options that were debated to meet both targets. Policy options include trading of renewable targets, carbon trading in power plants and industry and the use of the Clean Development Mechanism to improve cost-efficiency. The models also examined fairness by analysing the distribution of emission reduction in the non-emission trading sector, the distribution of CO2 allowances in the emission trading sector and the reallocation of renewable targets across Member States. The overall costs of meeting both targets range from 0.4% to 0.6% of GDP in 2020 for the EU as a whole. The redistribution mechanisms employed significantly improve fairness compared to a cost-effective solution.

Keywords: Climate; policy; Renewable; energy; Fairness (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (60) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301-4215(10)00920-1
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:39:y:2011:i:3:p:1476-1485

Access Statistics for this article

Energy Policy is currently edited by N. France

More articles in Energy Policy from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2020-02-18
Handle: RePEc:eee:enepol:v:39:y:2011:i:3:p:1476-1485