This is because norwegian hydropower producers have

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Unformatted text preview: uch as wind and sun power. The money goes directly in the pockets of the energy producers, as there is no obligation to invest in new types of renewable energy production. In reality, it means that the producers rake in money by maintaining the status quo of renewable energy production. The large number of hydropower producers inundates the market with guarantees of origin, which implies that the prices for guarantees remain too low and this does not lead to renewable energy investments. Even if a Norwegian industrial company in practice uses 95% of renewable energy in its production, it can credit only 82% renewable energy consumption in its climate accounts. This is because Norwegian hydropower producers have already exported the guarantees of origin to foreign countries, which have to be drawn from the total Norwegian energy consumption. Thus, Norwegian industry and Norwegian consumers are on paper less environmentally friendly than in reality. In order to compensate for the foreign sale...
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