The GREET (Green Tariffs) model is integrated with a database on costs and potential renewable generation in order to calculate the following:

• an efficient renewable energy mix
• mid and long-term saturation forecasts of renewable power, these are based on the incentive levels and updating procedures set by regulations and auction procedures
• incentive levels and costs required in order to achieve the national renewable energy consumption targets.

The GREET model is an essential tool to support Elfo++. It is the leading model in Italy to simulate the day-ahead power market price forecasts.

The GREET model also aids public and private companies to develop forecasts on renewable generation, set up cost/ benefit incentive scheme analysis, and estimate the extent of the achievements of European targets. It also allows the comparison of the competitiveness of renewable energy power with other energy sources in a wide variety of scenarios and monitor the national available renewable potential.

GREET is supported by a database on the main renewable generation plants and is used to estimate:

• investments costs and other fixed costs
• variable costs for renewable generation
• expected investments rate of return
• potential production by each source and the probability of meeting the maximum quotas set for incentives
.

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