Silver Lining For China's Carbon-Financed Wind Power Boom
Resource from: Forbes Likes:187
Jun 30,2014
China’s wind power industry was among the biggest beneficiaries of the United Nation’s Clean Development Mechanism (CDM), a carbon trading scheme that used funds from wealthy countries to support clean energy projects in developing countries.
The CDM allowed industrial countries to satisfy commitments they had made to cutting greenhouse-gas emissions under the 1997 Kyoto protocol.
In 2005, wind power project developers began applying for CDM funding in droves. By 2009, nearly 75% of all wind power projects in China had registered with the CDM.
As a result, the CDM’s board rejected more than a dozen Chinese wind power project proposals as a result of concerns that Beijing had deliberately lowered subsidies to ensure more projects would be eligible for funding.
The CDM’s board unprecedented mood resulted in a significant slow-down and exacerbated already intense criticism of the CDM’s environmental benefits.
Five years later, a bit of good news has surfaced about the CDM’s impact on renewable energy in China.
In The Learning Process and Technological Change in Wind Power, Tian Tang and David Popp, both professors of public policy at Syracuse University’s Maxwell School, assessed the impact of multiple types of “technology learning” on the cost of wind power projects in China built between 2002 and 2009. More specifically, the study considered “learning-by-searching through R&D in wind turbine manufacturing, learning-by-doing from previous experience of installation, and learning-by-interacting through collaboration between wind turbine manufacturers and project developers.”
The results?
It turns out that “learning-by-interacting” matters more than the other types of technology learning – at least for purposes of reducing the per unit cost of wind turbines installed in China.
Per Claire Brunel’s summary of the study in this week’s issue of the NBER Digest:
Given the average size of a CDM wind project, a developer’s completion of a typical CDM project reduces the future unit costs for similar projects by the same developer by around 0.23 percent. However, what reduces project costs the most is repeated collaboration experience between a developer and a manufacturer: the learning-by-interacting effect. Each additional CDM wind project that the developer and the manufacturer build together decreases unit costs by about 0.25 percent . . . Interestingly, the learning-by-interacting effect is strongest when collaboration occurs between domestic developers and foreign manufacturers. Cost savings are almost four times as high in this case as when the collaboration is between domestic firms, suggesting that knowledge transfer between foreign manufacturers and project developers is important.
By contrast, learning-by-searching had a comparatively trivial impact on cost reductions – just 0.04% based on patent volumes.
The study suggests that the CDM was modestly effective for purposes of promoting technological progress in developing countries by facilitating technology transfer.
(Forbes)
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