Renewable Energy

Name: Dermot Duncan

Position: Australian Qualified Lawyer

Date: 3 May 2006

Climate Change

• The Earth is Warming

• Greenhouse Gases•Carbon Dioxide•Methane•Nitrous Oxide•Ozone•Water Vapour•Halocarbons

Climate Change cont.

• Global Warming•Estimated that temperature rise by 5.8C higher by the end

of the Century;•Sea levels rise by 4 feet by end of the Century.•10 warmest years globally since instrument records began

in 1861 have been since 1994. 1998 and 2005 were the warmest years.

• Reduce Greenhouse Gases

• Too late to prevent Global Warming

What is Renewable Energy?

• Energy Flows that occur naturally and continuously in

the Environment, such as energy from Wind, Sun,

Waves and Tides.

• Renewable Energy is Inexhaustible.

• It is estimated that we will run out of Fossil Fuels within

200 years.

What are the different Renewable Technologies?

• Wind•On/Off Shore

• Solar•Passive Solar Design•Active Solar Water Heating•Solar Photovoltaic

• Biomass•Dependent Resources•Dedicated Energy Crops•Multi-Function Crops

What are the different Renewable Technologies?

•Woody Biomass• Forest Products, Waste Wood and Straw

•Biogas•Landfill Gas

• Landfilled Waste•Coal Mine Methane•Anaerobic Digestion (without air)

Renewable Technologies cont.

• Wave •Oscillating Water Column•Buoyant Moored Device•Hinged Contour Device

• Tidal

• Hydrogen•Fuel Cells

• Hydroelectric

Renewable Energy Policy

• The 1997 Kyoto Protocol•To reduce emissions of greenhouse gases by 12.5% below

1990 levels by 2008-12.

• Non-Fossil Fuel Obligation (NFFO).

• Energy White Paper, ‘Our Energy Future – creating a low carbon economy’ (Feb 2003) (more challenging domestic targets)

•60% reduction in CO2 Emissions by 2050•20% reduction in CO2 Emissions of 1990 levels in 2010 (now re-

assessed as 15-18%)•10% of Electricity Generation from Renewables by 2010•20% of Electricity Generation from Renewables by 2020

Renewable Energy Policy cont.

•Eliminate Fuel Poverty by 2016-18•Decline in Indigenous UK Energy Supplies•Low Carbon Economy•Less Pollution

• Climate Change - The UK Programme 2006

• Higher Living Standards

• Technical Expertise

• New Businesses/Jobs

Renewable Energy Policy Cont.

• Energy Act 2004

• NETA

• Utilities Act

Renewable Energy Policy Cont.

• Renewable Obligation•Each Megawatt Hour of Renewable Electricity generated =

Renewable Obligation Certificate (ROC) by Ofgem who administers the scheme

•Suppliers can meet their obligation by either acquiring ROCs or by paying a buy-out price set at £32.33 megawatt hour in 2004/05

• Climate Change Levy.

• EU Emissions Trading Scheme.

• Building Regulations and the Energy Performance of Buildings Directive (EPBD)

Renewable Energy Policy Cont.

• Compulsory Metering

• Carbon Trust

• International Energy Strategy

• Climate Change Projects Office

Financing Renewable Energy Projects

• Technology Risk•Off Shore (wind, tidal, wave)•Pyrolysis/Gasification•Photovotaics (Solar Chimney)•Wave•Tidal

• Renewable Obligations Certificates (ROCs)

• Planning Risk

• Climate Change Levy (CCL)

Financing Renewable Energy Projects

• Off-Shore Renewables (wind, tidal, wave) –

Connection to the Grid

• Catastrophic Bonds (Cat Bonds)

• LATS