Pantelis Capros, Leonidas Mantzos, Leonidas Parousos, Nikolaos Tasios, Ger Klaassen, Tom Van Ierland (2011), "Analysis of the EU policy package on climate change and renewables", Energy Policy 39 (2011) 1476 - 1485.
In 2009 the EU decided to reduce greenhouse gas emissions at least by 20% in 2020 compared to 1990 and to supply 20% of energy needs by 2020 from renewable energy sources. This paper uses an energy model coupled with a non-CO2 greenhouse gasmodel to assess the range of policy options that were debated to meet both targets. Policy options include trading of renewable targets, carbon trading in power plants and industry and the use of the Clean Development Mechanism to improve cost-efficiency. The models also examined fairness by analysing the distribution of emission reduction in the non-emission trading sector, the distribution of CO2 allowances in the emission trading sector and the reallocation of renewable targets across Member States. The overall costs ofmeeting both targets range from 0.4% to 0.6% of GDP in 2020 for the EU as a whole. The redistributionmechanisms employed significantly improve fairness compared to a cost-effective solution.
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"Analysis of the EU policy package on climate change and renewables"
