The Carbon Market: A Primer for Airports (2011) / Chapter Skim
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Pages 39-50
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From page 39... ...
. • RECs present more opportunities to airports than offset credits at this time.
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Credits issued to airports for reducing criteria air pollutants. Table 8.
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However, United States–based offset protocols at this time do not recognize renewable energy projects as carbon reduction projects for the purposes of issuing carbon offset credits. Therefore, in the United States, renewable energy projects are not usually considered carbon offset projects and there is virtually no market for carbon offset credits from renewable energy.
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U.S. Department of Energy - Energy Efficiency & Renewable Energy.
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Airports must consider a number of factors when deciding whether or not to install a renewable energy project on-site. Table 10 presents potential renewable technologies for airports, a general description of the technology, and some important factors that airports should consider.
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• On a $/unit of energy basis it is often more expensive than other forms of renewable energy; however, it is also one of the most applicable current technologies for airports. • Represents currently the most popular form of renewable projects for airports.
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The case study examines the potential revenue opportunities for the County, should they elect to sell the RECs associated with the project. Renewable Energy and Associated Markets 45 Case Study 3: Meadows Field Airport, Bakersfield, CA The County of Kern, California, owns and operates Meadows Field Airport, a nonhub airport situated in the County's largest city, Bakersfield.
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From page 46... ...
Utilities meet these obligations by incentivizing their customers to implement various energy efficiency or conservation measures (rebates for installing energy efficiency appliances, higher efficiency HVAC equipment, etc.) Often, EEPSs permit trading between utilities through EECs or "white tags," whereby a utility with white tags in excess of the mandated levels can sell to other utilities that may have a shortfall.
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Case Study 4 examines a unique example of an airport creating and selling offset credits from an energy efficiency project. The Montreal Airport Renewable Energy and Associated Markets 47 Case Study 4: Montreal Pierre-Elliot-Trudeau International Airport, Dorval, Canada The Montréal Pierre-Elliot-Trudeau International Airport in Dorval, Canada, is the third busiest airport in Canada.
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This case study is included as it is the only known example of an airport in North America monetizing carbon offset credits. While two of the three major United States–based offset standard bodies, the Climate Action Reserve and the American Carbon Registry, do not recognize energy efficiency measures -- which this example illustrates -- as eligible carbon offset project types, the Voluntary Carbon Standard accepts such offset project types.
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From page 49... ...
. 5.3.2 RECs and AERCs Renewable Energy and Associated Markets 49 Key Takeaways for Airports • Provided that an airport sponsor retains all AERCs, the sponsor of a VALE-funded renewable energy project may be able to earn revenue from the renewable attributes of the project by selling RECs.
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The primary condition is that the REC sale does not include the sale of the AERCs. In other words, the REC must not include the criteria pollutant emission reductions, which are the basis of the AERCs for on-airport use.
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