Renewable Thermal Instruments and GHG Accounting
The renewable thermal energy (RTE) market continues to be extremely challenging because costs for renewable technologies remain more expensive than conventional, non-renewable thermal options.
A robust market for high quality renewable thermal market instruments to effectively track RTE investments and facilitate a largescale increase in RTE deployment, complemented by federal and state policies like the Inflation Reduction Act, can effectively help bridge this fundamental market barrier.
Market instruments were key to accelerating renewable electricity deployments and procurements to support both voluntary and compliance markets, and the RTC is working to help replicate that success for RTE.
What is the RTC doing:
The RTC continues to work with our members, sponsors and other stakeholders to establish and implement strategies to help build and grow a credible and effective market for renewable thermal market instruments.
The RTC is working to help potential and active market participants better understand the challenges and opportunities for utilizing market instruments to accelerate widespread adoption of renewable thermal energy.
The RTC is also working to help members make strong, credible public statements about the renewable thermal procurements and investments they are making.
Selected Materials and Webinars
Between November 2022 and March 2023, the Greenhouse Gas Protocol (GHGP) invited public feedback on the current suite of corporate standards and guidance, including suggestions for maintaining current practices, updating standards, or developing additional guidance. This stakeholder input will inform the scope of any future updates that GHGP makes.
After a series of consultations with RTC members and sponsors through the GHG Accounting & Market Instruments Working Group, the RTC responded to the Market-based Accounting Approaches survey.
In September 2022, the Greenhouse Gas Protocol (GHGP) published a draft of the Land Sector and Removals Guidance which included Annex B: Biomethane. The annex sought to disallow the use of Renewable Natural Gas (RNG) certificates for gas injected into common carrier pipelines. After consulting the RTC’s GHG Accounting & Market Instruments Working Group, the RTC submitted comments to GHGP encouraging the removal of Annex B.
In August 2023, GHGP informed stakeholders that Annex B: Biomethane would not be included in the final Land Sector and Removals guidance, consistent with the RTC’s preference.
Hunter Hollander: firstname.lastname@example.org