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Semelhante a Appa Presentation Macrostudy
Semelhante a Appa Presentation Macrostudy (20)
Appa Presentation Macrostudy
- 1. Study of the macroeconomic impact of Renewable Energies in Spain Piet Holtrop, Attorney at Law at APPA member firm HOLTROP S.L.P Transaction & Business Law, Barcelona, May 21 st 2010
- 17. Thank you for your attention The study which is basis of this presentation will be available at: www.appa.es
Notas do Editor
- Security of supply Peak production (or peak oil) is a phenomenon intrinsic to fossil fuels: The moment you start drilling, you start running out of it. As soon as you have used up all cheap easy to drill resources, it becomes hard to find and expensive to explore. Security of supply in absolute and volatility terms: Absolute: With modern technologies we are much better equipped to explore fossil fuel resources. We are able to find a needle in a haystack. But it remains a needle in a haystack. Volatility: We have reached peak production. The good news about this is that the opec is no longer in control of oil prices. The bad news is that nobody is. At one point in time we will have run out of fuel, ie., cheap fuel which can be used for energy production. If we start energy transition at that point, we are too late. The capital needed for the transition will then be entirely needed for expensive fuel. Security of supply is an argument for renewable energy. Strategic investment now to avoid energy at a high cost and limited availability in the future. Security of supply: We are not talking about if, but about when. The practical implication of this is: How. The answer is: Feed in tariffs for Renewables.
- Externalities: Do hydroelectrical companies pay for all their construction costs? Do Spanish Nuclear power plants pay for the storage of their residues in France? Will they pay for the new central storage? How was their construction financed (state guarantees)? Who has paid to “neutralize” Chernobyl? Will the Oil companies of the users of oil pay for the consequences of climate change? Will BP pay the entire (ecological) invoice for the damages caused in the Mexican Gulf? Externalities are costs caused by economic activities which are not compensated by these activities. To compensate for these externalities you can either let the activities causing these externalities pay for them, or compensate other activities that do not cause these externalities. Externalities are a reason to pay incentives to clean energy. You compensate for the externality of pollution and subsequent climate change. Climate change: We are not talking about if, but about when. If we do not act now, but if it’s too late the costs will be multiplied. The practical implication of this is: How. The answer is: Feed in tariffs for Renewables (till grid parity)