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Jamaica, Barbados, Mexico, and Chile. Washington, DC: Inter- American Development Bank; Luecke, A. (2011). Renewable energy best practices in promotion and use for Latin America and the Caribbean. Washington, DC: Inter-American Development Bank; Perez Arbelaez, J., & Marzolf, N. C. (2010). Incentives for adopting renewable energy in Jamaica. Washington, DC: Inter-American Development Bank. 83 Glemarec, Y. (2011). Catalysing climate finance: A guidebook on policy and financing options to support green, low-emission and climate-resilient development. New York, NY: United Nations Development Programme. See also: Mitchell, C., Sawin, J., Pokharel, G. R., Kammen, D., Wang, Z., Fifita, S., Jaccard, M., Langniss, O., Lucas, H., Nadai, A., Trujillo Blanco, R., Usher, E., Verbruggen, A., Wüstenhagen, R., & Yamaguchi, K. (2011). Policy, financing and implementation. In O. Edenhofer, R. Pichs-Madruga, Y. Sokona, K. Seyboth, P. Matschoss, S. Kadner, T. Zwickel, P. Eickemeier, G. Hansen, S. Schlömer & C. Von Stechow (Eds.), IPCC special report on renewable energy sources and climate change mitigation. Cambridge, UK and New York, NY: Cambridge University Press. 84 Martinot, E. (2005). Renewables 2005 global status report. Washington, DC: Worldwatch Institute. 85 REN21. (2012). Renewables 2012 global status report. Paris, France: REN21 Secretariat. 86 For example, some jurisdictions combine feed-in tariffs for small-scale resources and auctions or credit trading for large- scale resources (e.g. UK, Italy, California, and Uruguay); some jurisdictions have announced plans to use auction outcomes to inform and set future feed-in tariff prices (e.g. Saudi Arabia and South Africa); some jurisdictions use feed-in tariffs to set floor prices for tradable credit markets (e.g. Belgium); and some jurisdictions have used feed-in tariff rates as price ceilings for auctions (e.g. Kenya and Indonesia). 87 It is important to note that the fact that the credits tradable – i.e. that they are a separable commodity from electricity – has not been problematic. However, markets that have relied exclusively on short-term or spot market trading for credits as the only compliance mechanism have faced challenges with high credit price volatility coupled with uneven market growth. Under the original RPS designs from the US in the mid- to late-1990s, short-term credit trading was envisioned as the primary mechanism for policy compliance. As RPS has evolved across the United States and internationally during the last twenty years, however, many short-term tradable credit markets now also include some type of price floor mechanism, or parallel procurement pathways that allow auctions for long-term contracts, standard offers, or bilateral negotiations for long-term contracts. This trend is also evident internationally. 88 Rickerson, W., Laurent, C., Jacobs, D., Dietrich, C., & Hanley, C. (2012). Feed-in tariffs as a policy instrument for promoting renewable energies and green economies in developing countries. Paris, France: United Nations Environment Programme. 89 Maurer, L. T. A., & Barroso, L. A. (2011). Electricity auctions: An overview of efficient practices. Washington, DC: World Bank, Energy Sector Management Assistance Program. 90Elizondo-Azuela, G., & Barroso, L. A. (2011). Design and performance of policy instruments to promote the development of renewable energy: Emerging experience in selected developing countries. Washington, DC: The World Bank; Liebreich, M. (2009). Feed-in tariffs: Solution or time- bomb? New Energy Finance Monthly Briefing, V(28), 1-3. 91 Glemarec, Y., Rickerson, W., & Waissbein, O. (2012). Transforming on-grid renewable energy markets. New York, NY: United Nations Development Programme. 92 Rickerson, W., Flynn, H., Hanley, C., Jacobs, D., & Solano- Peralta, M. (2010). Fiscal and non-fiscal incentives for adopting renewable energy: Feed-in tariffs in Latin America and the Caribbean. Washington, DC: Inter-American Development Bank. 93 Kreycik, C., Couture, T. D., & Cory, K. S. (2011). Innovative feed-in tariff designs that limit policy costs. Golden, CO: National Renewable Energy Laboratory. 94 Several of the Caribbean island nations have introduced net metering and net billing policies as their cornerstone procurement mechanism. These policies have the potential to be effective because power prices in the Caribbean are higher than the generation costs of many renewable energy generation technologies. The line between net metering, net billing, and feed-in tariffs in the Caribbean is unclear, however, since some countries (e.g. Grenada) have introduced net billing policies that are very similar to FITs (i.e. 100% of power is purchased at one rate and sold at another rater, rather than being used to offset onsite consumption). 95 CARICOM. (2013). CARICOM Energy Policy. Georgetown, Guyana. 96 AMDEE. 2012. Proyecto Eólicos en operación en México. Retrieved and available at: http://bit.ly/AMDEE2012 97 S. Davis, M. Houdashelt, N. Helme. (2012). Case Study: Mexico’s Renewable Energy Program. A Step-by-Step Approach for Overcoming Barriers to Renewable Energy Deployment. Center for Clear Air Policy. http://bit.ly/MexCCAP 98 Cochran, J., Bird, L., Heeter, J., & Arent, D. J. (2012). Integrating variable renewable energy in electric power markets: Best practices from international experience. Golden, CO: National Renewable Energy Laboratory; Chandler, H. (2011). Harnessing variable renewables: A guide to the balancing challenge. Paris, France: International Energy Agency. 99 For a discussion of potential regional interconnection strategies, see Nexant. (2010). Caribbean regional electricity generation, interconnection, and fuels supply strategy. Washington, DC: World Bank. 100 Holttinen, H., Meibom, P., Orths, A., van Hulle, F., Lange, B., O'Malley, M., Pierik, J., Ummels, B., Tande, J. O., Estanqueiro, A., Matos, M., Gomez, E., Söder, L., Strbac, G., Rethinking our energy future p. 29PDF Image | White Paper on Renewable Energy for the 3GFLAC
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