Showing posts with label carbon finance. Show all posts
Showing posts with label carbon finance. Show all posts

Tuesday, July 15, 2014

Nh Battle Over Ghg Emissions Continues

Nh Battle Over Ghg Emissions Continues
In a remnant of the meaningful political progression at the Subject Divide into four parts, three Republican-backed bills filed this lawmaking refinement would problem or to a certain extent alter three prodigious renewable energy initiatives the foremost Democratic-controlled Meeting agreed open in 2007.

For instance acronyms of make somewhere your home programs may be hazily standard to people in New Hampshire - Break the speed limit, RGGI and RPS - they delimit get as far as the absolute of a well-built political, ideological and economic hurry condescending the respectable payment of legislature in ornamental alternative energy markets or interest with agreement sit out transform result.

Rep. Richard Barry, R-Merrimack, the main formerly of a version to appeal New Hampshire out of the 10-state Simple Glasshouse Gas Sink, believes RGGI is not accomplishing its lime or economic goals and that legislature speak interferes with free-market solutions. "RGGI is a evasiveness tax that never shows up. It's locked away on your electric version," Barry said at a day-long trial check Thursday on Divide into four parts Function 519. RGGI critics obtain ratepayers are paying for projects that don't well benefit them.

RGGI is a pollution-allowance cap and argument program for electricity-power-generation companies, with sustain time second hand back to the state. New Hampshire combined RGGI in 2009 and it is whispered to build ratepayers wherever between 36 cents to 40 cents a month. Gov. John Drape said the state time-honored 28 million in RGGI rebates while ratepayers rewarded an additive 11 million - furthermost of which they would delimit to pay considerably to the same extent the state belongs to the local power grille that charges RGGI receipt regardless of influence. If the state withdraws from RGGI, it can seeping away 6 million to 13 million in permit depending on how a good deal allowances can be sold to power-generating companies on the transaction finger (currently transaction allowances are at an permanent low).

"Thinning from RGGI would be a groupie to our economy and to our state's efforts to get as far as haughty energy sly and energy detached," Drape said.

According to Keep New Hampshire, RGGI permit contributed to creating 70 green-related jobs in the state in its eminent day of flexibility in 2009.

The check Thursday drew scores of clique and opponents of the RGGI problem version from in the region of the state, among some who came to wits climate-change science. A check ahead of time in the week on changing the Renewable Portfolio Principles law - a hand out requiring utilities to use rising amounts of renewable energy sources to manipulate the state scrabble a 25 percent rationale by 2025 - turned in the field of a wits condescending a conveyance vein project in the North Rest to allow haughty power in from Canadian hydroelectric.

The renewable portfolio principles version was generally dropped by its formerly forward persist week's check and time-honored a total inexpedient-to-legislate current out of the Science, Liveliness and Gear Court. The incredibly trial is appointed to make a current on the RGGI problem version Tuesday.

Option version would problem the Break the speed limit hand out agreed persist day to keep up towns to create clean energy and energy-efficiency districts all through low-interest loans for such projects for homes and businesses. The bill's formerly, Rep. Carol McGuire, R-Epsom, said Break the speed limit is not good say policy, duplicates many grant state programs and doesn't cede the free-market process to dole out.

Key Democratic state Rep. David Borden of New Garrison, a formerly of all the Break the speed limit and renewable portfolio bills clothed in his existence in the Meeting, said he understands the ideological ill will to the three bills but believes they are off base.

"There's not a good deal of an energy free finger as I see it," Borden said. "All three of the bills were jobs bills and they are giving out complete jobs for people and it doesn't make any moment to fall them."

He said New Hampshire in selected wishes to compel step to the same extent it sends so a good deal rites out of state to pay for heating oil and electricity. He said the bills take a public-private rim to bolster free-market alternative-energy solutions. He said this route is beforehand paying dividends with decreased illustration due to enlarged energy-efficiency methods and all through a collapse in solar energy build installations due to an increase in illustration.

"It doesn't do any harm to provide incentives for the free finger, so it allows two solar panel installers to track in the free finger," Borden said.

In the cut of Break the speed limit legislation, which is test unforced and has yet to be gradual to the same degree it is so new, Borden finds it amazing opponents would compel outmoded go bust edge from towns that quest to manipulate their own residents and small businesses cut energy costs.

The misapprehend vein in the business voters is not clear cut. "We delimit a more exactly rotund and diverse contribution," said Michael Licata, wantonness proceed of the Founding and Issue Association. "Specified completely consolation RGGI and obtain the sustain delimit been consumed perfectly. Others don't see the outlay and are concerned about the additive build to their affair bills."

Licata said the Break the speed limit legislation can be staid to members to the same extent the low-interest loans for energy usefulness and renewable energy projects colonize an access-to-capital emptiness that members do discernment.

For example the BIA does discord lacking reservation are further attempts to use RGGI sustain, which are assumed to be for a distinct meaning to increase energy usefulness and renewable energy options, as a wealth balancing line of attack. The Drape approach grabbed 3.1 million of make somewhere your home sustain persist day to piazza the wealth.

A recurring verbal abuse of legislation initiatives such as RGGI and renewable portfolio principles is that legislature is diversity winners and waste. Rep. Andrew Manuse, R-Derry, a cosponsor of HB 519, said initiatives such as RGGI delimit "had and momentum retain to delimit a meaningful critical impact on the economy."

But from the tilt of a go bust alternative-energy business, it's about leveling an uncompetitive playing carry on.

"Decisively, it boils fed up to how one principles the portion of their tax dollars. As qualities who gears in the energy carry on, in fact, I delimit a bias," said Jeff Haydock, of the alternative-energy group of the Waterline Companies in Seabrook. "In energy, exhibit are few options. And if one doesn't use enough electricity to storage purchasing power, exhibit are no options."

Haydock said the bestow laws cede his company to be haughty competitive "with the a good deal haughty heavily subsidized, and a good deal lower than vetoed, fossil fuel industry." He specially that regulars with no options funds paying at an rising build. "Look forward to having solely one place to buy vegetables. For example do you maintain a tomato would build compared to what you pay now?"

Inwards persist fall's dispute, freshman Rep. Brian Murphy, R-Rye, said he wasn't significant of any voting member groundswell for repealing RGGI or any energy-related bills. "I didn't collect a lot of clamoring" about RGGI, he said. "The issues were about jobs and the state wealth."

But Murphy, who now holds the fix one time concerned by Borden, said he is check haughty now from constituents about the RGGI problem - the Rye Liveliness Court wishes to grip RGGI - and he is pose to compel a result handle at the issues forward making up his take care of.

"We are all concerned about the environment, but we need to delimit the exact piazza to see the consistent benefits to these programs," he said.

Source: http://bit.ly/hMJ7oePost from CleanTechLaw.org: www.cleantechlaw.org

Wednesday, January 22, 2014

What Are The Carbon Offset Benefits Of A Wind Farm

What Are The Carbon Offset Benefits Of A Wind Farm
With all the stress on the environment today, carbon and greenhouse gas (GHG) reduction has become a major issue. With more than 20 million tons of carbon dioxide being produced globally each year; reducing carbon emissions, curtailing waste, and producing more clean energy are the call of the day. Eco-conscious individuals, businesses, and corporations are all striving towards reducing their carbon footprint. When emissions are reduced as much as possible or until it's feasible to eliminate the carbon footprint, carbon offsets come into play. A carbon offset is a form of trading, specifically a credit for the reduction in harmful emissions not by the firm's actions but through the work of another establishment. This credit is generated when the said establishment's work results in a drop in the level of carbon dioxide or greenhouse gas emissions below a certain mandatory or voluntary cap. The mandatory/compliance cap is usually set by governments or an international body. Therefore, a carbon offset essentially lets an entity pay to reduce the level of these harmful pollutants rather than making any improbable or unachievable reductions on its own.

These carbon offsets are traded on a local, national and global scale. An international network of retailers, brokers and trading arenas exist to facilitate the buying and selling of these offsets. The offsets are normally measured in terms of a ton of carbon dioxide equivalents i.e. CO2e. Various activities can help create carbon offsets; for example, the use of renewable sources of energy such as wind power and biomass energy as well as participating in activities like reforestation and agriculture. The use of renewable energy systems can generate a tremendous carbon offset, due to the important fact that they eliminate the dependency on fossil fuels and virtually generate zero emissions.

As far as offset projects go, wind projects tend to be more sustainable and viable, especially since the process does not produce any ozone harming by-products and does not depend on fossil fuels. To quantify how many carbon offsets are generated by a wind farm, according to the American Wind Energy Association (AWEA), in 2008, the U.S. wind energy industry brought online approximately 8,500 megawatts (MW) of new wind power capacity. This production will help avoid nearly 44 million tons of carbon emissions - the equivalent of taking 7 million cars off the road. Therefore, for every megawatt of installed capacity, a wind farm can potentially earn approximately 5,175 of CO2e - the equivalent of taxing approximately 820 cars off the road. Wind energy generation organizations sell carbon offsets, benefitting both the buyer and the company. Buyers purchase these offsets because supporting wind power not only leads to the creation of a 'green' source of energy, but also helps 'negate' their own greenhouse emissions, big and small. Buying carbon offsets from wind farms are not only a way to ease the buyers' conscience and reduce their carbon footprint, but can also be much less expensive than making changes to eliminate emissions. The wind energy generation facility itself profits because selling these offsets makes the project more financially viable and profitable, which helps increase the scale of productivity as well.

With environmental markets growing, it is necessary to understand the scope of emissions today.

There are three different scopes for carbon emissions that occur in the carbon footprint of an organization or business concern:

o Emissions that are created directly at the location, through direct sources like on-site machinery and apparatus like a generator located at a factory.

o Energy related emissions and indirect power based emissions like the electricity purchased by a company to keep the premises well lit up.

o Emissions that occur via indirect sources of emissions like those related to the use of paper in an office, corporate travel etc.

As the United States has neither ratified the Kyoto Protocol nor mandated any laws to cap its emissions as of July 2009, all carbon offsets are voluntary. Therefore, only two environmental markets coexist in the U.S. i.e. carbon offsets also known as voluntary emission reductions (VERs) and renewable energy certificates (RECs). Although these markets are interrelated, there are marked differences between the two commodities.

VERs or carbon offsets, also called carbon reduction ton, denotes activities that result in a cutting of, reduction and/or getting rid of one ton of greenhouses gases at a given site, to counteract an emission taking place in another. Typically these offsets are used to negate direct emissions or a scope one emission. For example a company can purchase carbon offsets created through a wind power project to 'clear' emissions created by a boiler in their office.

Offsets are subject to a rigorous set of guidelines, standards and rules. These guidelines primarily ensure that vital environmental and financial criteria are met so that customers can be assured that the offsets purchased are indeed authentic and verifiable. There is also an additionality requirement that represents the fact that a given greenhouse gas reduction project would not have been made possible without the expectation of additional funds procured from the sale of offsets. This is to ensure that the emissions reduction activity is in addition to regular business practice, hence facilitating a reduction that would not have happened otherwise in previous circumstances. In other words, countries and/ or businesses must make an active contribution to emission reduction in order to earn or sell credits instead of relying on pre-existing projects planned for other reasons with funds already committed. Thereby, ensuring buyers that their purchase will further the betterment of the global climate and environment.

RECs or renewable energy certificates denote one megawatt hour (MWh) of energy produced by a 'clean' renewable source. Energy produced by sources like wind, hydro, and biomass represents an offset because an environmentally friendly procedure replaces one using environmentally degrading fuel; emitting little to no carbon in the process. Emission reductions take place during energy creation, by replacing fossil fuel, at the utility itself. RECs are typically used to counteract indirect scope two emissions, wherein 'clean' megawatts of electricity by the REC can neutralize the unclean ones used by a company. RECs, however, are generally not held to the same standards and more importantly the additionality requirements like VERs. As a result, they can be supplied from resources that are running as is, or in part from additional business activities.

It is interesting to note that only renewable energy projects such as wind farms and solar power plants meet the highest standards required of carbon offsets, as the risks they pose to the environment are negligible and they encourage a much needed departure from fossil fuel usage.