摘要

A system of Tradable Green Certificates (TGCs) is a market-based subsidy scheme designed to promote electricity generation from renewable energy sources such as wind power. Under a TGC system, the principal policy instrument is the %26quot;percentage requirement,%26quot; which stipulates the percentage of total electricity production (%26quot;green%26quot; plus %26quot;black%26quot;) that must be obtained from renewable sources. In this paper, we propose a regulatory adjustment process that a regulator can employ to determine the socially optimal percentage requirement, explicitly accounting for environmental damages resulting from black electricity generation.

  • 出版日期2013-11