Green Certificates: Mechanisms for Promoting Renewable Energy and their Impact on the Energy Market
|
|
|
| Authors: |
|
| Pages: | 4 : 14 |
| Abstract: | Green certificates are a market-based mechanism designed to promote renewable energy deployment and support the transition to sustainable energy systems. This study examines their implementation and effects in Romania, Italy, and China, focusing on market performance, investment stimulation, and energy diversification. Analysis of historical data shows that green certificates have contributed to significant growth in wind, solar, and biomass capacities, reducing dependence on fossil fuels and enhancing the attractiveness of renewable investments. Romania and Italy demonstrate the importance of quota adjustments and transparent market monitoring in maintaining stability, while China’s rapid expansion highlights the effectiveness of strong policy incentives combined with certificate schemes. Key challenges, including price volatility, greenwashing, and impacts on consumers, emphasize the need for adaptive regulation and continuous oversight. The findings indicate that, when integrated into broader energy policy frameworks, green certificates are an effective tool for accelerating renewable energy adoption, balancing markets, and supporting economic and environmental objectives. |
| JEL classification: | Q42, Q48, L94, G38 |
|
|
Q42, Q48, L94, G38
