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Policy Brief May 31, 2020

Designing Power Markets to Maximize the Effectiveness of Carbon Pricing

By Max Dupuy, Frederick Weston, Camille Kadoch, Richard Cowart

Understanding the interactions between carbon markets and electricity markets — the impacts of each on the other — is key to good design of both. International experience shows that designing power markets and carbon markets in isolated policy “silos” does not lead to best outcomes. Designing them in concert helps ensure that the markets are as economical...

Greenhouse Gas Management, Market Design Download View Summary
Report

Equity in the energy transition: Who pays and who benefits?

By Louise Sunderland, Andreas Jahn, Michael Hogan, Jan Rosenow, Richard Cowart

With its pending Green Deal, the European Commission is striving to make Europe the first climate-neutral region by 2050. A lot is at stake with this goal. The transition to clean energy can help mitigate climate change and bring extensive social, health and well-being benefits to all Europeans. This process, however, is not without costs, particularly in the sho...

Demand Response, Energy Efficiency Program Design, Governance, Pricing and Rate Design, Role of Regulatory Institutions Download View Summary
Fact Sheet

Carbon revenues for a just transition

By Louise Sunderland, Richard Cowart

We have in Europe today a huge new opportunity to clean up our energy system, advance social justice and address catastrophic climate change. In this fact sheet, we illuminate the path to achieving these goals — carbon revenue recycling. In other words, we need to invest Europe's EU Emissions Trading System auction revenues into strategic programmes for energy ...

Climate and Public Health, Energy Efficiency Program Design Download View Summary
Presentation March 6, 2019

Economic benefits of energy efficiency obligations

By Jan Rosenow, Richard Cowart

​At a conference held by the government of Bosnia and Herzegovina on its proposed energy efficiency obligation scheme, Dr. Jan Rosenow and Richard Cowart were invited to present on the economic and environmental benefits of this form of energy efficiency programme. In particular, they underlined the numerous benefits for the nation in terms of growth, investmen...

Energy Efficiency Obligations Download View Summary
Report February 28, 2019

Economic Benefits and Energy Savings through Low-Cost Carbon Management

By Richard Cowart, David Farnsworth, Frederick Weston

In the 2018 legislative session, the Vermont Legislature called for a study to examine the possible methods, costs, and benefits of using carbon pricing to address the problem of carbon pollution in the state. RAP was then asked to assess that study, produced by Resources for the Future (RFF), as further analysis for the Legislature's Joint Fiscal Office. To a...

Energy Efficiency Program Design, Greenhouse Gas Management, Regulation and Governance Download View Summary
Presentation February 16, 2019

Carbon Efficiency: Opportunities for Leadership in Vermont

By Richard Cowart

​In a keynote address at Vermont Law School in South Royalton, Vermont, Richard Cowart explored carbon efficiency as a framework to guide cost-effective and fair climate policies....

Energy Efficiency Program Design, Greenhouse Gas Management, Regulation and Governance Download View Summary
Report

Market-based instruments for energy efficiency: a global review

By Jan Rosenow, Richard Cowart, Samuel Thomas

There is an increasing interest in the role so-called market-based instruments (MBIs) can play to deliver energy efficiency across the world. Their rising popularity among policymakers owes, in part, to their characteristics. They tend to be less prescriptive than traditional regulations and grants because they focus on the energy savings versus the means of deli...

EM&V, Energy Efficiency Obligations, Energy Efficiency Program Design Download View Summary
Policy Brief

Carbon leverage: Investing Europe’s carbon revenues in energy efficiency

By Catharina Wiese, Richard Cowart, Jan Rosenow

In the lively debate around carbon pricing and emission reductions, one crucial aspect is consistently missing. Much of the debate focuses on the carbon price alone. However, carbon revenues are at least as important as carbon prices if Europe’s goal is to accelerate emission reductions to meet our Paris commitments—and do so at a pace that is both affo...

Energy Efficiency Program Design, Greenhouse Gas Management, Integrated Energy and Environmental Policy, Market Design Download View Summary
Policy Brief June 5, 2017

Aligning Europe’s Policies for Carbon, Efficiency, and Renewables: Creating a “Virtuous Cycle” of Performance and Emissions Reduction

By Richard Cowart, Matthias Buck, Suzana Carp

Since the earliest days of environmental policy there has been an ongoing and robust debate over the roles of pollution pricing on the one hand, and direct regulatory and governmental programs on the other hand, as tools to reduce pollution levels equitably and efficiently. Today, as European decision-makers simultaneously negotiate the rules for the 4th Phase of...

Greenhouse Gas Management, Market Design, Role of Regulatory Institutions Download View Summary