Financing Sources And Policies
For Renewable Energies
Author(s)
A. Ivanova, A. Gamez & M. Angeles
Abstract
Renewable energy (RE) has a significant potential to mitigate global climate
change, address regional and local environmental concerns, reduce poverty and
increase energy security. The challenge is to provide the right policy frameworks
and financial tools that will enable RE to achieve its market potential and move
from the margins of energy supply into the mainstream.
Policy-makers thus have a mandate to take action and, since most of the
capital for this greening will not come from public treasuries, most of this action
will need to focus on creating enabling frameworks and finance mechanisms for
technology R&D, commercialization and investment.
Renewable energies, although subject to the same market forces as conventional
energy sources, involve markedly different technologies and thus their financing
requires new thinking, new risk management approaches and new forms of
capital.
After examining and analyzing the financing trends for renewable energies,
we conclude that market signals alone – even when incorporating carbon pricing
– have not been sufficient to trigger significant renewable energies growth.
Therefore the importance of the well-designed policies is crucial. To be as
effective as possible, these must be taking into account the state of the
technology, available RE resources, and responding to local political, economic,
social and cultural needs and conditions.
Keywords: renewable energies, policies, financing, mitigation.
1 Introduction
Government policies are required for a substantial increase in deployment of
renewable energy. Market signals alone – even when incorporating carbon
Keywords
renewable energies, policies, financing, mitigation.
Related Book
Other papers in this volume
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