In the context of combating climate change renewable energies are considered to play an important role. As these energies are currently not fully competitive compared to conventional power generation technologies, (minimum) quotas have been proposed as one means overcome this problem. However, when implementing any instruments on the national level, one should keep in mind that the efficiency of most types of renewable energies is dependent on the location. Thus, leaving the nation perspective and investing abroad may result in improved efficiency. Against this background the integration of the CDM into the European renewable energy policy is proposed.