Energy savings certificates: A market-based tool for reducing greenhouse gas emissions

Energy savings certificates (ESCs) are potentially a major tool that can be used by regulators and policy makers in reducing greenhouse gas (GHG) emissions. In this paper, we present our findings on the experience to date with ESCs, outline potential program opportunities in the US, and conclude with our perspective on how to proceed with the use of ESCs, particularly as a component of GHG reduction programs. (C) 2007 Elsevier Ltd. All rights reserved.