IDEAS home Printed from https://ideas.repec.org/a/eee/rensus/v90y2018icp937-944.html
   My bibliography  Save this article

Financing for renewable energy projects: A decision guide by developmental stages with case studies

Author

Listed:
  • Lam, Patrick T.I.
  • Law, Angel O.K.

Abstract

In terms of development cycle, renewable energy (RE) projects entail funding supports from the technological innovation stage onwards. Due to uncertainties in resource availability and technical risk, only a limited variety of funding sources are available for startups. As the RE development project passes through this early stage into technical maturity, more funding sources may be attracted to bring it to commercial fruition. When the technology is eventually deployable to mass applications, even more funding venues exist, sometimes enabling exit of the original innovators via transfer of ownership, or fostering asset growth with investor participation in built facilities. Due to the environmental benefits to be harvested, governments have a pivotal role to play in relation to funding, either directly or indirectly at all stages.

Suggested Citation

  • Lam, Patrick T.I. & Law, Angel O.K., 2018. "Financing for renewable energy projects: A decision guide by developmental stages with case studies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 90(C), pages 937-944.
    • Handle: RePEc:eee:rensus:v:90:y:2018:i:c:p:937-944
    DOI: 10.1016/j.rser.2018.03.083
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1364032118301801
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.rser.2018.03.083?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Nick Johnstone & Ivan Haščič & David Popp, 2010. "Renewable Energy Policies and Technological Innovation: Evidence Based on Patent Counts," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 45(1), pages 133-155, January.
    2. Raphaël Jachnik & Randy Caruso & Aman Srivastava, 2015. "Estimating Mobilised Private Climate Finance: Methodological Approaches, Options and Trade-offs," OECD Environment Working Papers 83, OECD Publishing.
    3. Corsatea, Teodora Diana & Giaccaria, Sergio & Arántegui, Roberto Lacal, 2014. "The role of sources of finance on the development of wind technology," Renewable Energy, Elsevier, vol. 66(C), pages 140-149.
    4. Lund, P.D., 2009. "Effects of energy policies on industry expansion in renewable energy," Renewable Energy, Elsevier, vol. 34(1), pages 53-64.
    5. Ming, Zeng & Ximei, Liu & Yulong, Li & Lilin, Peng, 2014. "Review of renewable energy investment and financing in China: Status, mode, issues and countermeasures," Renewable and Sustainable Energy Reviews, Elsevier, vol. 31(C), pages 23-37.
    6. Margarita Kalamova & Christopher Kaminker & Nick Johnstone, 2011. "Sources of Finance, Investment Policies and Plant Entry in the Renewable Energy Sector," OECD Environment Working Papers 37, OECD Publishing.
    7. Olmos, Luis & Ruester, Sophia & Liong, Siok-Jen, 2012. "On the selection of financing instruments to push the development of new technologies: Application to clean energy technologies," Energy Policy, Elsevier, vol. 43(C), pages 252-266.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marques, António Cardoso & Fuinhas, José Alberto & Pereira, Diogo Santos, 2019. "The dynamics of the short and long-run effects of public policies supporting renewable energy: A comparative study of installed capacity and electricity generation," Economic Analysis and Policy, Elsevier, vol. 63(C), pages 188-206.
    2. Zhu, Zhishuang & Liao, Hua & Liu, Li, 2021. "The role of public energy R&D in energy conservation and transition: Experiences from IEA countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 143(C).
    3. Hirsh Bar Gai, Dor & Shittu, Ekundayo & Attanasio, Donna & Weigelt, Carmen & LeBlanc, Saniya & Dehghanian, Payman & Sklar, Scott, 2021. "Examining community solar programs to understand accessibility and investment: Evidence from the U.S," Energy Policy, Elsevier, vol. 159(C).
    4. Yue Meng & Haoyue Wu & Wenjing Zhao & Wenkuan Chen & Hasan Dinçer & Serhat Yüksel, 2021. "A hybrid heterogeneous Pythagorean fuzzy group decision modelling for crowdfunding development process pathways of fintech-based clean energy investment projects," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-34, December.
    5. Jingyan Fu & Artie W. Ng, 2021. "Scaling up Renewable Energy Assets: Issuing Green Bond via Structured Public-Private Collaboration for Managing Risk in an Emerging Economy," Energies, MDPI, vol. 14(11), pages 1-16, May.
    6. Lai, Chun Sing & Locatelli, Giorgio & Pimm, Andrew & Tao, Yingshan & Li, Xuecong & Lai, Loi Lei, 2019. "A financial model for lithium-ion storage in a photovoltaic and biogas energy system," Applied Energy, Elsevier, vol. 251(C), pages 1-1.
    7. Serrano-Calle, Silvia & Delarue, Erik, 2018. "Smart Technologies Applied to the Energy Sector. Renewable Energy Expansion Strengthened by Digital Communications and Distributed Ledger Technologies?," 29th European Regional ITS Conference, Trento 2018 184966, International Telecommunications Society (ITS).
    8. Qiang Wang & Thomas Dogot & Guosheng Wu & Xianlei Huang & Changbin Yin, 2019. "Residents’ Willingness for Centralized Biogas Production in Hebei and Shandong Provinces," Sustainability, MDPI, vol. 11(24), pages 1-16, December.
    9. Nicoleta Mihaela Florea & Roxana Maria Bădîrcea & Georgeta-Madalina Meghisan-Toma & Silvia Puiu & Alina Georgiana Manta & Dorel Berceanu, 2021. "Linking Public Finances’ Performance to Renewable-Energy Consumption in Emerging Economies of the European Union," Sustainability, MDPI, vol. 13(11), pages 1-14, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Corsatea, Teodora Diana & Giaccaria, Sergio & Arántegui, Roberto Lacal, 2014. "The role of sources of finance on the development of wind technology," Renewable Energy, Elsevier, vol. 66(C), pages 140-149.
    2. Cristian Matti & Davide Consoli & Elvira Uyarra, 2017. "Multi level policy mixes and industry emergence: The case of wind energy in Spain," Environment and Planning C, , vol. 35(4), pages 661-683, June.
    3. Corrocher, Nicoletta & Cappa, Elisabetta, 2020. "The Role of public interventions in inducing private climate finance: An empirical analysis of the solar energy sector," Energy Policy, Elsevier, vol. 147(C).
    4. Bongsuk Sung & Cui Wen, 2018. "Causal Dynamic Relationships between Political–Economic Factors and Export Performance in the Renewable Energy Technologies Market," Energies, MDPI, vol. 11(4), pages 1-18, April.
    5. Bongsuk Sung & Myoung Shik Choi & Woo-Yong Song, 2019. "Exploring the Effects of Government Policies on Economic Performance: Evidence Using Panel Data for Korean Renewable Energy Technology Firms," Sustainability, MDPI, vol. 11(8), pages 1-19, April.
    6. Degirmenci, Tunahan & Yavuz, Hakan, 2024. "Environmental taxes, R&D expenditures and renewable energy consumption in EU countries: Are fiscal instruments effective in the expansion of clean energy?," Energy, Elsevier, vol. 299(C).
    7. Bongsuk Sung & Myung-Bae Yeom & Hong-Gi Kim, 2017. "Eco-Efficiency of Government Policy and Exports in the Bioenergy Technology Market," Sustainability, MDPI, vol. 9(9), pages 1-18, September.
    8. Frank, Alejandro Germán & Gerstlberger, Wolfgang & Paslauski, Carolline Amaral & Lerman, Laura Visintainer & Ayala, Néstor Fabián, 2018. "The contribution of innovation policy criteria to the development of local renewable energy systems," Energy Policy, Elsevier, vol. 115(C), pages 353-365.
    9. Best, Rohan & Burke, Paul J., 2018. "Adoption of solar and wind energy: The roles of carbon pricing and aggregate policy support," Energy Policy, Elsevier, vol. 118(C), pages 404-417.
    10. Joëlle Noailly & Roger Smeets, 2022. "Financing Energy Innovation: Internal Finance and the Direction of Technical Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 83(1), pages 145-169, September.
    11. Meleddu, Marta & Pulina, Manuela, 2018. "Public spending on renewable energy in Italian regions," Renewable Energy, Elsevier, vol. 115(C), pages 1086-1098.
    12. Ebadian, Mahmood & van Dyk, Susan & McMillan, James D. & Saddler, Jack, 2020. "Biofuels policies that have encouraged their production and use: An international perspective," Energy Policy, Elsevier, vol. 147(C).
    13. Teodora Diana Corsatea, 2016. "Localised knowledge, local policies and regional innovation activity for renewable energy technologies: Evidence from Italy," Papers in Regional Science, Wiley Blackwell, vol. 95(3), pages 443-466, August.
    14. Joelle Noailly; Roger Smeets, 2021. "Financing Energy Innovation: Internal Finance and the Direction of Technical Change," CIES Research Paper series 69-2021, Centre for International Environmental Studies, The Graduate Institute.
    15. Zhang, Dayong & Cao, Hong & Zou, Peijiang, 2016. "Exuberance in China's renewable energy investment: Rationality, capital structure and implications with firm level evidence," Energy Policy, Elsevier, vol. 95(C), pages 468-478.
    16. Urpelainen, Johannes, 2011. "Export orientation and domestic electricity generation: Effects on energy efficiency innovation in select sectors," Energy Policy, Elsevier, vol. 39(9), pages 5638-5646, September.
    17. Changjie Zhan & Martin De Jong, 2017. "Financing Sino-Singapore Tianjin Eco-City: What Lessons Can Be Drawn for Other Large-Scale Sustainable City-Projects?," Sustainability, MDPI, vol. 9(2), pages 1-17, February.
    18. Corsatea, Teodora Diana, 2014. "Increasing synergies between institutions and technology developers: Lessons from marine energy," Energy Policy, Elsevier, vol. 74(C), pages 682-696.
    19. Bobinaite, Viktorija & Tarvydas, Dalius, 2014. "Financing instruments and channels for the increasing production and consumption of renewable energy: Lithuanian case," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 259-276.
    20. Patricia Laurens & Christian Bas & Antoine Schoen & Stéphane Lhuillery, 2016. "Technological contribution of MNEs to the growth of energy-greentech sector in the early post-Kyoto period," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 18(2), pages 169-191, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:rensus:v:90:y:2018:i:c:p:937-944. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/600126/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.