| Publication |
2014.
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| Summary/Abstract |
The last decade has seen an increase in the importance of energy efficiency and the sustainable use of energy resources due to their significant benefits for reducing a country's dependence on foreign energy resources and increasing awareness on environmental problems. Turkey aims to reduce its energy intensity by 20% up to 2023, and in order to accomplish this target, the country plans to use energy more effectively in various industries and develop financial mechanisms for energy efficiency. Although much effort has been made to improve energy efficiency, additional policies such as marked-based incentives are still necessary. This article deals with one of the many market-based energy efficiency policies, called Tradable White Certificates (WhC) or Energy Efficiency Obligations. The current situation of the energy field in Turkey and energy consumption by industries is presented first in this paper, followed by potentials for energy efficiency in each industry and energy efficiency policies. Furthermore, the theory and applicability of a WhC System is introduced and discussed in terms of market conditions, choice of obligated participants and market mechanisms and barriers for the Turkish electricity and natural gas market to benefit from the residential and industrial energy savings potential.
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