Voluntary Market Mechanisms For Renewable Electricity
Voluntary markets, also referred to as green power markets, are driven by consumer preference. Voluntary markets allow a consumer to choose to do more than policy decisions require and reduce the environmental impact of their electricity use. Voluntary green power products must offer a significant benefit and value to buyers to be successful. Benefits may include zero or reduced greenhouse gas emissions, other pollution reductions or other environmental improvements on power stations.
The driving force behind voluntary green electricity within the EU are the liberalized electricity markets and the RES Directive. According to the directive the EU Member States must ensure that the origin of electricity produced from renewables can be guaranteed and therefore a “guarantee of origin” must be issued (article 15).
Environmental organisations are using the voluntary market to create new renewables and improving sustainability of the existing power production. In the US the main tool to track and stimulate voluntary actions is Green-e program managed by Center for Resource Solutions.
In Europe the main voluntary tool used by the NGOs to promote sustainable electricity production is EKOenergy label.
Read more about this topic: Renewable Energy Commercialization
Famous quotes containing the words voluntary, market and/or electricity:
“Men are not therefore put to death, or punished for that their theft proceedeth from election; but because it was noxious and contrary to men’s preservation, and the punishment conducing to the preservation of the rest, inasmuch as to punish those that do voluntary hurt, and none else, frameth and maketh men’s wills such as men would have them.”
—Thomas Hobbes (1579–1688)
“The only reason to invest in the market is because you think you know something others don’t.”
—R. Foster Winans (b. 1948)
“Prudence and justice tell me that in electricity and steam there is more love for man than in chastity and abstinence from meat.”
—Anton Pavlovich Chekhov (1860–1904)