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A solar city strategy applied to six municipalities: integrating market, finance, and policy factors for infrastructure‐scale photovoltaic development in Amsterdam, London, Munich, New York, Seoul, and Tokyo

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  • John Byrne
  • Job Taminiau
  • Kyung Nam Kim
  • Jeongseok Seo
  • Joohee Lee

Abstract

Policy support platforms like the Feed‐in Tariff and the Renewable Portfolio Standard have been very successful in accelerating renewable energy development around the world. Nonetheless, the sustained and consistent transition to a renewable energy future required, e.g., to avoid further climate change, continues to elude societies. To achieve substantial energy transformation, reconsideration of the finance–policy–market interaction is required and is contemplated here by positioning the build‐out of a particular renewable energy technology, photovoltaic (PV) energy, as a commitment to infrastructure‐scale development. A so‐called ‘solar city’ strategy is analyzed in which large‐scale deployment of PV throughout the urban fabric essentially constructs an urban renewable energy power plant by utilizing the vast rooftop real estate available in all cities. The article explores a capital market strategy for practical implementation of urban PV in six case study cities—Amsterdam, London, Munich, New York City, Seoul, and Tokyo. This study demonstrates the substantial potential of the solar city concept in each location and outlines a financing strategy to realize the potential. WIREs Energy Environ 2016, 5:68–88. doi: 10.1002/wene.182 This article is categorized under: Photovoltaics > Economics and Policy Solar Heating and Cooling > Systems and Infrastructure Energy and Development > Economics and Policy

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  • John Byrne & Job Taminiau & Kyung Nam Kim & Jeongseok Seo & Joohee Lee, 2016. "A solar city strategy applied to six municipalities: integrating market, finance, and policy factors for infrastructure‐scale photovoltaic development in Amsterdam, London, Munich, New York, Seoul, an," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 5(1), pages 68-88, January.
    • Handle: RePEc:bla:wireae:v:5:y:2016:i:1:p:68-88
    DOI: 10.1002/wene.182
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    4. Fernández, María Eugenia & Gentili, Jorge Osvaldo & Campo, Alicia María, 2022. "Solar access: Review of the effective legal framework for an average argentine city," Renewable and Sustainable Energy Reviews, Elsevier, vol. 156(C).
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    6. Pauline Deschryver & Frederic de Mariz, 2020. "What Future for the Green Bond Market? How Can Policymakers, Companies, and Investors Unlock the Potential of the Green Bond Market?," JRFM, MDPI, vol. 13(3), pages 1-26, March.
    7. Kobashi, Takuro & Yoshida, Takahiro & Yamagata, Yoshiki & Naito, Katsuhiko & Pfenninger, Stefan & Say, Kelvin & Takeda, Yasuhiro & Ahl, Amanda & Yarime, Masaru & Hara, Keishiro, 2020. "On the potential of “Photovoltaics + Electric vehicles” for deep decarbonization of Kyoto’s power systems: Techno-economic-social considerations," Applied Energy, Elsevier, vol. 275(C).
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    9. Mohammed Adil Sait & Uchendu Eugene Chigbu & Iqbal Hamiduddin & Walter Timo De Vries, 2018. "Renewable Energy as an Underutilised Resource in Cities: Germany’s ‘Energiewende’ and Lessons for Post-Brexit Cities in the United Kingdom," Resources, MDPI, vol. 8(1), pages 1-27, December.
    10. Kobashi, Takuro & Choi, Younghun & Hirano, Yujiro & Yamagata, Yoshiki & Say, Kelvin, 2022. "Rapid rise of decarbonization potentials of photovoltaics plus electric vehicles in residential houses over commercial districts," Applied Energy, Elsevier, vol. 306(PB).
    11. Mensi, Walid & Vo, Xuan Vinh & Kang, Sang Hoon, 2021. "Upside-Downside Multifractality and Efficiency of Green Bonds: The Roles of Global Factors and COVID-19," Finance Research Letters, Elsevier, vol. 43(C).
    12. Polzin, Friedemann & Egli, Florian & Steffen, Bjarne & Schmidt, Tobias S., 2019. "How do policies mobilize private finance for renewable energy?—A systematic review with an investor perspective," Applied Energy, Elsevier, vol. 236(C), pages 1249-1268.
    13. Joseph Nyangon & John Byrne & Job Taminiau, 2017. "An assessment of price convergence between natural gas and solar photovoltaic in the U.S. electricity market," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 6(3), May.
    14. Job Taminiau & John Byrne, 2020. "City‐scale urban sustainability: Spatiotemporal mapping of distributed solar power for New York City," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 9(5), September.
    15. John Byrne & Job Taminiau & Kyung Nam Kim & Joohee Lee & Jeongseok Seo, 2017. "Multivariate analysis of solar city economics: impact of energy prices, policy, finance, and cost on urban photovoltaic power plant implementation," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 6(4), July.
    16. Pan Jiang & Hanwen Zhang & Mengyue Li & Yuhan Zhang & Xiujuan Gong & Dong He & Liang Liu, 2023. "Research on the Structural Optimization of the Clean Energy Industry in the Context of Dual Carbon Strategy—A Case Study of Sichuan Province, China," Sustainability, MDPI, vol. 15(4), pages 1-21, February.

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