Promoting cooperation mechanisms to reach RES targets
In this report for RECS International, Copenhagen Economics investigates different strategies for the EU to comply with the renewable energy targets. We present two main recommendations on how the EU should proceed. We find that billions of Euros can be saved if the member states cooperate on joint compliance. In a long term perspective, reaching the renewable energy targets requires a strengthening of the internal market. Norway and Sweden’s joint supports scheme based on green certificates is a good example of a cooperation that could be expanded to more countries. Moreover, we find that substantial gains could be realised in the area of offshore wind if the key interested parties were to increase their voluntary cooperation. Our second recommendation is that the EU should shift from subsidies to deployment to support for innovation. The money saved through joint compliance could be used to boost focused innovation policies.
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