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[ D] Without a doubt, renewable energy is one possibility to reducing greenhouse gas emissions. The goal of the EU-Directive
on the promotion of electricity from renewable energy sources (RES-E) is to double the share of renewable energy from the
present 6% to 12% of the gross energy consumption by 2010. This has been translated into indicative targets for each Member
State concerning the share of electricity produced from renewable energy sources (EU: 22,1%). Most of the technologies (e.g. photovoltaics)
are currently not competitive at present market prices for electricity. Therefore, they have to be subsidised in order to increase the use of
RES-E. All over Europe, different support schemes are in place, e.g. feed-in systems like in Germany. In some countries there is a tendency
to use more quantity-oriented instruments such as tradable green certificates.
Our analysis shows the advantages and drawbacks of the various schemes in liberalising electricity markets.
Another question of interest is how tradable green certificates interact with an emissions trading regime.
