Renewable Energy Policies in Promoting Financing and Investment among the East Asia Summit Countries: Quantitative Assessment and Policy Implications
Youngho Chang (),
Zheng Fang () and
Yanfei Li ()
Chapter 2 in Financing Renewable Energy Development in East Asia Summit Countries A Primer of Effective Policy Instruments, pp 13-38 from Economic Research Institute for ASEAN and East Asia (ERIA)
Many countries have implemented policies for renewable energy development ranging from setting power purchase agreements and the legislation of renewable energy requirements to providing incentives and imposing carbon taxes. The evaluation of the effectiveness of such policies, however, is fragmented, which raises a need for a comprehensive analysis. This chapter aims to assess whether and how policies promoting renewable energy investment have achieved the intended goals. It employs five broadly defined criteria – market, uncertainty, profitability, technology, and financial resources – to build an index to assess respectively if such policies have helped create a market for renewable energy, maximise potential profits, reduce risks relating to the investment, develop and adopt new technologies, and provide access to financial resources. Each criterion is reflected by three indicators. Values of each indicator are converted into ordinal values for analysis. The index not only scans comprehensively all relevant renewable energy investment policies in the developing East Asian countries, but also provides systematic and quantitative measures to compare the effectiveness of policies in these countries with respect to the creation of market, the degree of uncertainty, the potential of profitability, the development and adoption of technology, and the accessibility of financial resources.
Keywords: Renewable energy investment; financing; profitability; risks; policies (search for similar items in EconPapers)
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Journal Article: Renewable energy policies in promoting financing and investment among the East Asia Summit countries: Quantitative assessment and policy implications (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:era:chaptr:2014-rpr-27-2
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