Renewable Energy Policies and Private Sector Investment: Evidence from Financial Microdata

Miguel Cárdenas Rodríguez, Ivan Haščič, Nick Johnstone, Jérôme Silva () and Antoine Ferey

Environmental & Resource Economics, 2015, vol. 62, issue 1, 163-188

Abstract: This paper analyses the effect of government policies and other determinants on private finance investment in renewable energy. A unique dataset of financial transactions for renewable energy projects is constructed using the Bloomberg New Energy Finance database. The dataset covers 87 countries, six renewable energy sectors (wind, solar, biomass, small hydropower, marine and geothermal) and the 2000–2011 time-span. In a first set of models undertaken at the level of the financial deal we find that, in contrast to quota-based schemes, price-based support schemes are positively correlated with private finance contributions. This result holds for complementary analyses undertaken at the level of the project. However, for those projects in which public finance complements private finance (co-financed projects) neither quota-based measures nor price-based support schemes have a significant effect on private finance flows. Copyright Springer Science+Business Media Dordrecht 2015

Keywords: Renewable energy; Finance; Investment; Policy instrument choice; Technology deployment; Q42; Q48; Q54; Q55; Q58; G3; H23; L94; O3 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

Downloads: (external link)
http://hdl.handle.net/10.1007/s10640-014-9820-x (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:enreec:v:62:y:2015:i:1:p:163-188

Ordering information: This journal article can be ordered from
http://www.springer. ... al/journal/10640/PS2

DOI: 10.1007/s10640-014-9820-x

Access Statistics for this article

Environmental & Resource Economics is currently edited by Ian J. Bateman

More articles in Environmental & Resource Economics from Springer, European Association of Environmental and Resource Economists Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().