A Renewable energy credit (REC) is a certificate corresponding to the environmental attributes of energy produced from renewable sources such as wind or solar. RECs were created as a means to track progress towards and compliance with states' Renewable Portfolio Standards (RPS), meant to support a cleaner generation mix.
Renewable Energy Credit is one of two main outputs or benefits from generation of new power from renewable sources. Renewable power generation creates actual power in the form of electricity, and environmental benefits to society from “green” power production – such as minimizing pollution and slowing the rate finite fuel resources are used. The actual power is sold into the local grid, and the societal benefits are sold in the form of Renewable Energy Credits or “RECs”, sold separately as a commodity into the marketplace. While RECs are not actually a measure of power, each REC represents one megawatt hour (MWh) of renewable-generated energy. For each REC purchased the customer is able to claim the equivalent MWh of energy reduction as an offset to their conventional energy use. Because RECs provide an additional revenue stream to renewable energy projects, they are essentially a subsidy meant to allow clean resources to economically compete with fossil fuel based resources.
Opponents highlight that by purchasing RECs a customer can claim emissions “reduction” even if they do not actually reduce their end-use at all - or even increase it. Proponents counter that more REC purchases drive increased production of renewable power which can replace conventional production.
The Renewables Obligation (RO) is designed to encourage generation of electricity from eligible renewable sources in the United Kingdom. It was introduced in England and Wales and in a different form in Scotland in April 2002 and in Northern Ireland in April 2005, replacing the Non-Fossil Fuel Obligation which operated from 1990.
Renewable Energy Certificates (RECs), also known as Green tags, Renewable Energy Credits, Renewable Electricity Certificates, or Tradable Renewable Certificates (TRCs), are tradable, non-tangible energy certificates in the United States that represent proof that 1 megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource and was fed into the shared system of power lines which transport energy. Solar renewable energy certificates (SRECs) are RECs that are specifically generated by solar energy.
A green certificate are a tradable commodity proving that certain electricity is generated using renewable energy sources. Typically one certificate represents the generation of one Megawatthour of electricity. What is defined as "renewable" varies from certificate trading scheme to trading scheme. Usually, at least the following sources are considered as renewable:
A Renewable Portfolio Standard (RPS) is a regulation that requires the increased production of energy from renewable energy sources, such as wind, solar, biomass, and geothermal, which have been adopted in 38 of 50 U.S. states and the District of Columbia. The United States federal RPS is called the Renewable Electricity Standard (RES). Several states have clean energy standards, which also allow for resources that do not produce emissions, such as large hydropower and nuclear power.
Renewable energy commercialization involves the deployment of three generations of renewable energy technologies dating back more than 100 years. First-generation technologies, which are already mature and economically competitive, include biomass, hydroelectricity, geothermal power and heat. Second-generation technologies are market-ready and are being deployed at the present time; they include solar heating, photovoltaics, wind power, solar thermal power stations, and modern forms of bioenergy. Third-generation technologies require continued R&D efforts in order to make large contributions on a global scale and include advanced biomass gasification, hot-dry-rock geothermal power, and ocean energy. In 2019, nearly 75% of new installed electricity generation capacity used renewable energy and the International Energy Agency (IEA) has predicted that by 2025, renewable capacity will meet 35% of global power generation.
Financial incentives for photovoltaics are incentives offered to electricity consumers to install and operate solar-electric generating systems, also known as photovoltaics (PV).
A feed-in tariff is a policy mechanism designed to accelerate investment in renewable energy technologies by offering long-term contracts to renewable energy producers. This means promising renewable energy producers an above-market price and providing price certainty and long-term contracts that help finance renewable energy investments. Typically, FITs award different prices to different sources of renewable energy in order to encourage the development of one technology over another. For example, technologies such as wind power and solar PV are awarded a higher price per kWh than tidal power. FITs often include a "digression": a gradual decrease of the price or tariff in order to follow and encourage technological cost reductions.
Energy subsidies are measures that keep prices for customers below market levels, or for suppliers above market levels, or reduce costs for customers and suppliers. Energy subsidies may be direct cash transfers to suppliers, customers, or related bodies, as well as indirect support mechanisms, such as tax exemptions and rebates, price controls, trade restrictions, and limits on market access.
A home fuel cell or a residential fuel cell is an electrochemical cell used for primary or backup power generation. They are similar to the larger industrial stationary fuel cells, but built on a smaller scale for residential use. These fuel cells are usually based on combined heat and power (CHP) or micro combined heat and power (m-CHP) technology, generating both power and heated water or air.
New Jersey has over 4,100 MW of install solar power capacity as of mid-2022, which provides 6.7% of the state's electricity consumption. The's state's growth of solar power is aided by a renewable portfolio standard that requires that 22.5% of New Jersey's electricity come from renewable resources by 2021 and 50% by 2030, by incentives provided for generation of solar power, and by one of the most favorable net metering standards in the country, allowing customers of any size array to use net metering, although generation may not exceed annual demand. As of 2018, New Jersey has the sixth-largest installed solar capacity of all U.S. states and the largest installed solar capacity of the Northeastern States.
Energy in Switzerland is transitioning towards sustainability, targeting net zero emissions by 2050 and a 50% reduction in greenhouse gas emissions by 2030.
Different methods of electricity generation can incur a variety of different costs, which can be divided into three general categories: 1) wholesale costs, or all costs paid by utilities associated with acquiring and distributing electricity to consumers, 2) retail costs paid by consumers, and 3) external costs, or externalities, imposed on society.
Wind power in Indiana was limited to a few small water-pumping windmills on farms until 2008 with construction of Indiana's first utility-scale wind power facility, Goodland with a nameplate capacity of 130 MW. As of September 2017, Indiana had a total of 1897 MW of wind power capacity installed, ranking it 12th among U.S. states. Wind power was responsible for 4.8% of in-state electricity production in 2016.
A community solar project, farm or garden is a solar power installation that accepts capital from and provides output credit and tax benefits to multiple customers, including individuals, businesses, nonprofits, and other investors. Participants typically invest in or subscribe to a certain kW capacity or kWh generation of remote electrical production. The project's power output is credited to investors or subscribers in proportion to their investment, with adjustments to reflect ongoing changes in capacity, technology, costs and electricity rates. Community solar provides direct access to the renewable energy to customers who cannot install it themselves. Companies, cooperatives, governments or non-profits operate the systems.
Modern United States wind energy policy coincided with the beginning of modern wind industry of the United States, which began in the early 1980s with the arrival of utility-scale wind turbines in California at the Altamont Pass wind farm. Since then, the industry has had to endure the financial uncertainties caused by a highly fluctuating tax incentive program. Because these early wind projects were fueled by investment tax credits based on installation rather than performance, they were plagued with issues of low productivity and equipment reliability. Those investment tax credits expired in 1986, which forced investors to focus on improving the reliability and efficiency of their turbines. The 1990s saw rise to a new type of tax credit, the production tax credit, which propelled technological improvements to the wind turbine even further by encouraging investors to focus on electricity output rather than installation.
Solar power in Pennsylvania currently provides less than 1% of the state's electricity, but there are many policies in place to regulate and incentivize its use. Pennsylvania mandates the use of solar power through a renewable portfolio standard, which requires a percentage of electricity from each providers to come from solar, and net metering, which compensates small-scale solar generation through net metering. By 2021, Pennsylvania was required to have 0.5% of its electricity from solar. Their following goal is 10% by 2030. Solar power could theoretically provide over 30% of the state's electricity, but growth in solar generation has slowed due to a reduction in solar grants and the low price of solar energy credits. Efforts have also seen blowback from citizens, most notably from Mount Joy Township. Although, Pennsylvania has ruled solar as a legal use, meaning local governments can only restrict size and placement, but can't disband the projects.
Renewable energy in Chile is classified as Conventional and Non Conventional Renewable Energy (NCRE), and includes biomass, hydro-power, geothermal, wind and solar among other energy sources. Usually, when referring to Renewable Energy in Chile, it will be the Non Conventional kind.
Net metering in New Mexico is a set of state public policies that govern the relationship between solar customers and electric utility companies.
Energy in Liechtenstein describes energy production, consumption and import in Liechtenstein.
A consumer green energy program is a program that enables households to buy energy from renewable sources. By allowing consumers to purchase renewable energy, it simultaneously diverts the utilization of fossil fuels and promotes the use of renewable energy sources such as solar and wind.
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