Valuation of CO2 Emissions Reduction from Renewable Energy and Energy Efficiency Projects in Africa: A Case Study of Burkina Faso
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Date
2021
Journal Title
Journal ISSN
Volume Title
Publisher
Int. Journal of Renewable Energy Development
Abstract
Burkina Faso like many other African countries hosts many renewable energy (RE) and energy efficiency (EE) projects that
are not registered to the clean development mechanism (CDM), but which could represent potential CDM opportunities. This study seeks
to determine these projects’ impact on the level of CO2 emissions in the country, and to determine their CDM potential by quantifying
their carbon emissions reduction, using approved CDM methodologies adapted to the projects. 21 RE projects and 7 EE projects were
considered, and all proven to be additional. Results revealed that, 68,709.424 MWh and 9,430.446MWh were saved and displaced by the
EE and RE projects respectively annually, accounting for 48157.668 tCO2e emissions reduced annually. This accounts for a 63.12%
emissions reduction from the baseline scenario and represents a huge potential for the CDM, ready to be harnessed. The total amount of
emissions reduced could generate about 4,8157.668 Certified Emissions Reduction (CERs) yearly. Considering a carbon price of $10/tCO2e
and a 10-year fixed crediting period starting from 2020 would imply a total revenue of $4,815,766.8 in 2030 from the CERs, which will
increase the sector’s attractiveness to investors. Policies promoting the registration of these projects to the CDM are essential to boost the
development of more of such projects in the country/ region, which will benefit from the sustainable development the CDM offers, while
contributing to the achievement of its Intended Nationally Determined Contributions
Description
Keywords
Africa, Burkina Faso, CDM, Certified emissions reduction, CO2 emissions reduction, Energy efficiency, Renewable energy, Sustainable development, 2iE College of Engineering, Institut International d'Ingénierie de l'Eau et de l'Environnement (2iE)