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Renewable Energy Policies
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Renewable Fuel Standard (RFS)
Obligates a certain volume of transportation fuel comes from renewable, sustainable sources like biofuels. This reduces reliance on fossil fuels and lowers transportation-related emissions.
Clean Energy Standard (CES)
A federal policy approach to reducing greenhouse gas emissions by setting a minimum requirement for clean energy in the power sector. It incentivizes low and zero-carbon energy sources.
Electric Vehicle (EV) Incentives
Incentives such as tax credits, rebates, and grants offered to buyers of electric vehicles. They aim to accelerate the adoption of EVs and reduce emissions from the transportation sector.
Renewable Energy Grants
Provide direct financial support to renewable energy projects. Grants decrease the upfront cost of renewable technologies, making them more competitive with conventional energy sources.
Renewable Heat Incentives
Financial incentives aimed at increasing the adoption of renewable heating systems like solar thermal, heat pumps, and biomass. They can include subsidies, rebates, and tax credits.
Renewable Portfolio Standard (RPS)
Mandates that a certain percentage of electricity must come from renewable sources by a specific date. It encourages diversity in energy supply sources, lowers greenhouse emissions, and stimulates the renewable energy industry.
Net Metering
Allows owners of renewable energy installations to sell excess electricity back to the grid at retail rates, providing a financial incentive for homeowners and businesses to install renewable energy systems.
Low Carbon Fuel Standards (LCFS)
State-level policies that require reduced carbon intensity in transportation fuels. They promote the use of cleaner fuels, such as electricity and biofuels, in the transportation sector.
Wind Energy Incentives
Includes various tax credits, rebates, and grants specifically designed to encourage the development and operation of wind energy projects. They are instrumental in making wind power competitive.
Climate Action Plans
Comprehensive roadmap policies designed by governments to address climate change. They often incorporate renewable energy targets, efficiency measures, and transition strategies to a low-carbon economy.
Investment Tax Credit (ITC)
Provides a tax credit for investments in renewable energy sources, like solar and wind. It reduces the cost of installation and encourages businesses and individuals to invest in renewable energy technologies.
Green Certificates
Energy producers are awarded certificates for generating energy from renewable sources. These can be sold separately from the physical electricity, thus providing an additional revenue stream.
Feed-in Tariffs (FiT)
Pays renewable energy producers a set rate for the electricity they inject into the grid. It provides long-term contracts and ensures a fixed, predictable price for renewable energy.
Renewable Energy Certificates (RECs)
Act as proof that energy was generated from renewable resources. They can be bought and sold and are used to meet renewable energy targets and provide a revenue stream to renewable energy producers.
Solar Renewable Energy Credits (SRECs)
A market-based mechanism that creates value for solar energy production. Solar system owners earn one SREC for every megawatt-hour of solar electricity produced, which can then be sold or traded.
Energy Efficiency Resource Standards (EERS)
Requires utilities to reduce energy consumption by a specific percentage. It indirectly supports renewable energy by reducing overall demand and making renewables a larger part of the remaining energy mix.
Offshore Wind Incentives
Specific incentives designed to promote the development of offshore wind farms. They can include tax credits, grants, and streamlined permitting processes to overcome higher costs and logistical challenges.
Carbon Pricing
Puts a price on carbon emissions, encouraging the use of cleaner, renewable energy sources by making fossil fuels more expensive. It can take the form of a carbon tax or cap-and-trade system.
Renewable Energy Bonds
Governments or municipalities issue bonds to finance renewable energy projects. They provide a low-interest way for investors to support renewable energy development.
Production Tax Credit (PTC)
Offers a per-kilowatt-hour tax credit for electricity generated by qualifying renewable energy resources. It incentivizes the production of renewable electricity and helps level the playing field with fossil fuels.
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