The global and national markets for renewable energy are policy-driven resulting from initiatives designed to generate economic incentives for the reduction of greenhouse gas emissions, thereby mitigating the onset of climate change and improving security of energy supply.
Following the international commitments made under the Kyoto Protocol, in 2008 the European Commission and EU member states agreed to set the goal of sourcing 20% of energy (primarily from transport, heat and electricity) from renewable energy sources by 2020.
The UK’s share of this EU target, which is to source 15% of energy consumption from renewable energy sources by 2020, is binding on the UK as an EU member state. The UK government expects that, to meet this overall energy target by 2020, approximately 30% of the UK’s electricity may need to come from renewable sources and has in place several incentive schemes to help achieve that target.
Therefore, in addition to generating electricity and exporting it to the National Grid, Infinis also earns revenue from government incentive from renewable electricity certificates (ROCs) issued to accredited generators which produce renewable electricity in the UK, aimed at promoting and incentivising greater production of renewable energy. Our ROCs are then sold on to electricity suppliers, helping them to meet their renewable obligations.