Carbon Markets 94% Cheaper Than Renewable Support, OECD Says
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Carbon markets are about 94 percent cheaper at cutting greenhouse gases than renewable subsidies paid to power producers, according to the Organization for Economic Cooperation and Development.
The cost of reducing one metric ton of carbon dioxide in the power industry using emissions trading systems is 10 euros ($13.56) on average, compared with 169 euros for feed-in tariffs, the OECD said today in a report. Some tariffs cost more than 700 euros a ton, the OECD in Paris said in the study based on data from 15 countries, including China and the U.S.