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Cornucopia hybrid finance for renewable energy in agriculture

Solar Cooling and Hybrid Systems with Heating and Hot Water

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Solar cooling technologies transform solar radiation to provide space cooling and refrigeration services. Air conditioning in buildings has traditionally been provided by air conditioners using electrically driven vapour compression chillers. These are responsible not only for GHG emissions, but also use CFCs and HCFCs and related compounds as refrigerant fluids, which also contribute to climate change and are known to deplete the ozone layer.

Clean Development Mechanism market status: 

[this information is kindly provided by the UNEP Risoe Centre Carbon Markets Group]

Project developers of solar thermal energy projects in the CDM pipeline mainly apply the following methodologies:

ACM2 “Consolidated baseline methodology for grid-connected electricity generation from renewable sources”
AMS- I.C. “Thermal energy production with or without electricity”
Further information on these metholodogies can be found here.

As of 1 February 2010, there are 10 solar thermal projects in the CDM pipeline - 5 areregistered and 5 are at the validation stage. [media:image:7]

Example CDM project:
Title: Federal Intertrade Pengyang Solar Cooker Project (CDM Ref. No. 2307)
The Federal Intertrade Pengyang Solar Cooker Project is located on the dry land of southern Ningxia in northwestern China. Implemented by Ningxia Federal Intertrade Co., the proposed project will install 17,000 solar cookers for the poor rural residents in mountainous areas with a rural population of 92,331 (or 20,341 households). The project will cover 83.6% of the households in the project region. The rating power of each solar cooker is 773.5 W and the total capacity of the proposed project is 13.1 MW. The proposed project will enable the rural residents to efficiently substitute solar energy for the fossil fuel (coal) used in daily cooking and water boiling - avoiding CO2 emission that would be generated by fossil fuel consumption.
Project investment: USD 900,000 million
Project CO2 reduction over a crediting period of 10 years: 357,230 tCO2e
Expected CER revenue (USD 10/CER): USD 3,572,300

To demonstrate the value of renewable energy financing as a significant new tool for rural economic development, by using solar water pumps, solar dryers, and biodigestors to help farmers produce high-value products for local and national markets.

Locations

Brazil
15° 46' 46.92" S, 47° 55' 46.92" W
Mozambique
25° 57' 55.08" S, 32° 35' 21.12" E
Main activity and output: 
  • Provide international renewable energy financing to supplement local financial support for small farmers in João Pessoa, Brazil through the REEEP-supported Energy Millennium Development Goal Financing Facility (E-MDG-F), thus creating a hybrid of two standard financing models.
  • Finance RE technologies that can add value: micro-irrigation, solar pumps and storage systems, biodigestors for organic fertilizer and biogas production, and solar dryers for fruits and herbs
  • Conduct studies to establish preferences for production and basic sales projections for each product
  • Hold education and training programme in the communities covering agricultural, RE and commercial training. Participants become trainers themselves.
  • Highlight results of the project in a Gates Foundation sponsored international expert meeting at the end of 2009.
Expected impact: 
  • Positioning of renewable energy as a major economic development tool amongst multilateral (Inter-American Development Bank), national (PRONAF), philanthropic (Gates and Rockefeller Foundations), and local rural development programmes.  
  • Replication of the hybrid finance tool in Mozambique through the Private Advisory Financing Network, whose establishment in Mozambique is also being financed by REEEP.  
  • Creation of associated commercial value chains, creating opportunities for farmers and for women entrepreneurs.