A system of green certificates. Final report

In the light of liberalization and internationalization of the market for electricity and natural gas the Dutch government aims to improve the sustainability of the Dutch energy economy. Therefore the Dutch Ministry of Economic Affairs requires a tool for their policy to stimulate the production and the use of renewable energy without hindering the development of those markets. In a system of so-called green certificates the added value of renewable energy can be disconnected from the actual supply of energy and can be made marketable separately. Four variants of green certificate systems are described based on demand and supply (voluntary or mandatory produced or supplied renewable energy). The voluntary system is based on a voluntary (spontaneous) demand for renewable energy of the consumers: who wants to make a contribution to a sustainable energy supply buys green certificates. In a mandatory production system the demand is created by the obligations that are put on consumers by the government. The results of a comparison of both systems are presented and discussed