Show Me the Money: Federal and State Public Funding, Benefits and Subsidy Programs for Ocean Marine Renewables Carolyn Elefant Law Offices of Carolyn Elefant/OceanRenewable Energy Coalition (OREC) Hydrovision Conference, Sacramento California July 18, 2008
U.S. Federal and State Public Benefits & Incentives for Wave, Tidal, HydroKinetic: Topics
A carbon offset is a financial instrument representing a reduction in greenhouse gas emissions. Although there are six primary categories of greenhouse gases, carbon offsets are measured in metric tons of carbon dioxide-equivalent (CO2e). One carbon offset represents the reduction of one metric ton of carbon dioxide, or its equivalent in other greenhouse gases.
At present, only voluntary markets, can be certified
Cheapest offsets in voluntary markets w/no verification
W/Cap and trade, offsets will provide another benefit for marine renewables (but may not be able to “double count” REC and offset)