Energía y Sociedad: Renewable Energy Published at 10 December 2010
Renewable Energy Projects financing through Carbon Certified Emission Reduction. Case of Study: Electric Cogeneration - Biomass in Ecuador.
1 Curso Máster en Energía Solar Fotovoltaica, Instituto de Energía Solar – Universidad Politécnica de Madrid
ABSTRACT This paper describes the way to get CarbonEmissions Reduction Certificates (CER) using Clean Development Mechanisms (CDM) which are supported and regulated by Kioto’s Protocol and United Nations Framework Convention on Climate Change (UNFCCC). According to UNFCC one CER is equal to ton of CO2 equivalent (tCO2e), so countries with a commitment under the Kyoto Protocol Based can buy CER and developing countries can sell CER implementingprojects that reduce greenhouse gas emissions in tCO2e. Like case of study one project of renewable energy based on biomass was implemented in Ecuador (South America) using CDM to get and emit CER. A brief description of this project is developed in this paper showing methodology, procedures and results obtained. The analysis concludes this kind of mechanisms are very useful to developing countries likeEcuador because its implementation create new ways to finance renewable energy projects and contribute to reduce greenhouse gas emissions in the world.
KEYWORDS: Renewable energy, biomass, carbon emissions
But the Protocol also allows them to meet their emission reduction commitments abroad through so-called “marketbased mechanisms”. One of the Protocol’s market-basedmechanisms is the clean development mechanism (CDM). Under the CDM, projects that reduce greenhouse gas emissions in developing countries and contribute to sustainable development can earn certified emission reduction (CER) credits. By this way industrialized countries and developing countries can work together to reduce emissions of GHG and create a market to buy and sell CER according requirements,commitments and regulations of each country. This market regulated by institutions of UNFCCC is known like official or regulated market.
The United Nations Framework Convention on Climate Change (UNFCCC) is universally recognized to be the appropriate global forum to tackle the problem of climate change. The UNFCCC was founded at the Rio Earth Summit in 1992. The ultimate objective of theConvention is to stabilize greenhouse gas (GHG) concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system. The Convention is complemented by the 1997 Kyoto Protocol, under this treaty more than 30 industrialized countries and the European Community have committed to reducing their emissions by an average of 5 per cent from 2008 to 2012 withrespect to 1990 levels. Industrialized countries must first take domestic action against climate change.
Technology Essentials – Nuclear Power
In this document the following abbreviations are used to mention terms or agencies involved in the various topics discussed in this document, so make reading easier for the reader: CDM: Clean Development Mechanisms CER: CertifiedEmission Reduction CO2: Carbon Dioxide SO2: Sulphur Dioxide NO: Nitrogen Monoxide CO: Carbon Monoxide tCO2e: Ton of CO2 equivalent UNFCCC: United Nations Framework Convention on Climate Change GHG: Greenhouse Gases USA: United States of America PDD: Project Design Document CCX: Chicago Climate Exchange ECX: European Climate Exchange ICE: Intercontinental Exchange CFI: Carbon Financial InstrumentsAnnex I: Group of countries classified as industrialized countries and countries in transition Non Annex I: Group of countries classified as developed countries which pay for costs of developing countries. CONELEC: Ecuadorian Electricity Board (“Consejo Nacional de Electricidad del Ecuador”) MAE: Ecuadorian Ministry of Environment (“Ministerio del Ambiente del Ecuador”). ACM0006 : Methodology to...