RIE, Problems and proposals for an improved white certificates mechanism

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by Ignazio Cusimano

In order to achieve its goals in terms of enhancing energy efficiency (optical 20-20-20) it is important to carefully evaluate the mechanism of TEE (Energy Efficiency Certificates) or White Certificates and analyze problems and critical issues, advancing proposals feasible and functional European targets in 2020.

The RIE, as well as Galileia, oversaw a study on CB (White Certificates): Through this report opportunities arise, proposals and opportunities to optimize the mechanism of certifications. Between the critical it appeared a lack of adaptability and flexibility of the mechanism of CB, parallel to the rigidity of the market. Stands out, moreover, the lack of coordination between the instruments of incentive.

The report also analyzes the RIE results: 2008 to present, the annual titles are fewer in number than the relevant obligations, applies a basic balance between supply and demand, although precarious. In fact, the constant shortage of supply in raising the prices of the stock market, with the consequent risk of distributors annuities cancellation: RIE proposes a revision of the criteria for calculating the contribution rate.

Other issues raised by the relationship RIE: the TEE was not able to promote most sizable and structured investments, to the benefit of interventions of small size, low initial investment and with return in the short term. The cause is found in the economic and financial barriers: incentives, evaluation of projects at risk, uncertainty rules monetization of CB and repayment periods penalizing. Regulatory uncertainty: in particular, the lack of a clear threshold of additionality generates uncertainty about what are the projects to be eligible to obtain TEE. The timing of approval is further expanded. The proposals are emerging from the French scheme (CUMAC) and UK (Based on the reduction of CO2 emissions).

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