Aiming Zhou - RECs and ADBs Clean Energy Program
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Transcript of Aiming Zhou - RECs and ADBs Clean Energy Program
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8/6/2019 Aiming Zhou - RECs and ADBs Clean Energy Program
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Aiming ZhouEnergy Specialist
Asian Development Bank
6th Asia Clean Energy Forum20-24 June 2011
Manila
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Outline
o Understanding Renewable Energy Certificates
o How do they fit into ADB's Clean Energy
Program?
o What is ADB's RECs initiative?
o Other Clean Energy Program initiatives
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Understanding RECs
o One megawatt hour of electricitygenerated and delivered to the grid from a
qualified renewable energy source
o Sold separately from commodity electricity
o Also known as tradable renewable
certificates (TRCs), green tickets, green
certificates, green tags, renewable energy
credits
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RECs Conceptual Framework
BiomassWind
Solar
Geothermal
Hydro
ElectricityGeneration
Environmental
benefits
Physicalelectricity
RECs
Market
PowerMarket
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Tender Scheme
RenewableEnergy Portfolio
RECs
Feed-in-Tariff
Renewable Energy Policy Framework
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20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
MW
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Asia Pacific 1,119 1,261 1,426 1,798 2,349 2,916 3,790 5,438 7,889 11,591 17,193 26,446 42,037
Africa 6 10 64 137 137 148 211 234 278 386 469 696 1,014
Middle East 18 18 18 18 18 33 72 101 101 101 101 101 101
Europe & Eurasia 4,812 6,572 9,756 13,650 17,833 23,854 29,325 34,749 41,068 48,651 56,851 65,998 76,581
S. & Cent. America 42 66 95 96 131 140 190 194 195 397 581 977 1,418
North America 1,639 2,226 2,573 2,752 4,462 4,947 6,715 7,197 9,867 13,180 18,810 27,940 38,933
Installed Wind Power Capacity by Region
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5,000
10,000
15,000
20,000
25,000
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
MW
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Asia Pacific 115 164 247 383 523 730 972 1,267 1,582 1,930 2,240 2,850 3,763
Rest of World 292 369 487 682 724 787 851 886 924 963 1,043 1,097 1,329
Europe 95 116 143 200 301 421 624 1,283 2,246 3,218 5,012 10,429 16,066North America 103 117 136 160 192 238 304 408 514 664 877 1,223 1,771
Installed Solar PV Power Capacity by Region
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2,000
4,000
6,000
8,000
10,000
12,000
1990 1995 2000 2003 20042005
20062007
20082009
MW
1990 1995 2000 2003 2004 2005 2006 2007 2008 2009
Rest of World 1,193 1,532 1,932 2,051 2,047 2,049 2,095 2,131 2,176 2,180
Asia Pacific 1,347 1,774 2,980 3,171 3,169 3,255 3,443 3,490 3,673 3,810
Europe 629 722 1,021 1,107 1,123 1,123 1,260 1,453 1,554 1,634
North America 2,775 2,817 2,228 2,020 2,534 2,653 2,687 2,850 2,911 3,087
Installed Geothermal Power by Region
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Australia4%
People's
Republic
of China
62%
India
26%
Japan
5%
New
Zealand1%
Other
Asia
Pacific2%
Wind
Australia
5%
People's
Republic ofChina
8%India
3%
Japan70%
South
Korea
14%
Malaysia0%
Solar
People's
Republic
China
1%
Indonesia
32%
Japan
14%
Papua
New
Guinea
2%
Philippines
51%
Geothermal
Uneven Deployment of RE Technology
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RECs Around the World
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Why RECs
o Flexibility Domestic and international tradable .
No transmission constrains within physical
electricity transfer
Mandatory Compliance and VoluntaryCommitment
Support small/distributed projects
o Complementary to other RE incentives FITs
Investment tax credit
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Drivers of REC Market Prices
o Mandatory Marketso Supply and demand (RPS target, availability of cost-
effective resources, ability to site new projects, etc.)
o RPS Rules (geographic eligibility, banking, penalties)
o Voluntary Marketso Supply and demand (competition from RPS markets,
consumer demand for local resources)
o Type and location of resourceo New vs. existing
o Volume purchased
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o ADBs First Energy Policy (1981): response tothe oil crisis
o Second Energy Policy (1995): infrastructureinvestment and developing financially robust andefficient sector operations
o Energy Policy Review (2000): reducing poverty,increasing private sector involvement, addressing
environment impacts, promoting regionalcooperation
o Energy Policy 2009: Three Pillars (EE/RE; EfA,Reform/Capacity Bldg/Governance)
RECs in the Context of
ADBs Energy Experience
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ADB Clean Energy Financing
(Target = $2 Billion by 2013)
226 306
757657
668
1,750
1,313
1,756
$ 1 Billion
1,200
1,400
1,600
1,800
$ 2 Billion
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
($millions)
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ADBs Composition of CE Financing
(Cumulative 2008-2010, in US$ million)
RenewableEnergy :
3,074
EnergyEfficiency:
1,234
Cleaner Fuel:318
Clean EnergyFunds:
192
Hydro Wind Solar Others
1,674 638 206 556
54.4% 20.8% 6.7% 18.1%
Total Energy-related Investment (2008-2010): $ 9.1 Billion ;Total Clean Energy Investment (2008-2010): $ 4.8 Billion.
Note: Others in the breakdown of RE projects pertains to biomass/biogas, waste to energy
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Green Certificates Initiative in Asian Pacific
o Uneven distribution, development and investment by RE
sources, countries
o In order to increase the flexibility to meet renewable
energy development targets in selected DMCs
o Market assessment
o Legal and regulatory framework
o National and regional trading platform
16
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Pilot Study for a RECs Program in Sri Lanka
o Evaluate policy and technology options -is REC scheme compatible with
financial/fiscal incentive measures
already in place?
o Analyze institutional framework
o Design conceptual framework
o Propose legal & regulatory framework
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Thank You !
Contact
Aiming Zhou, email: [email protected]
More information: www.adb.org/clean-energy
http://www.adb.org/clean-energyhttp://www.adb.org/clean-energyhttp://www.adb.org/clean-energyhttp://www.adb.org/clean-energy