Abstract
This chapter describes the ways a green certificate market possibly could be established, mentioning some of the obstacles to be addressed before a well-functioning green market is achieved. The analysis is applicable for all renewable technologies, but special attention is paid to wind power. Liberalizing the electricity industry and attempts to reduce the emissions of greenhouse gases are the two dominant trends in the European energy policy. At present, most renewable energy sources cannot compete on their own with conventional technologies. Thus, it can be expected that renewable competing solely on pure market conditions will halt the development of new renewable capacity. One model of generating additional payments to renewable technologies is to develop a separate green market. In Denmark, a comprehensive restructuring of the legislation for the electricity and the energy industry has been completed including the framework for the development of a separate green market for renewable electricity production
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