Assessment of Instruments in Facilitating Investment in Off-grid Renewable Energy Projects Global Experience and Implications for ASEAN Countries

Xunpeng Shi, Xiying Liu and Lixia Yao

Chapter 3 in Financing Renewable Energy Development in East Asia Summit Countries A Primer of Effective Policy Instruments, pp 39-77 from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: Renewable off-grid solutions play a critical role in giving people access to electricity. However, the challenges are enormous. Financing such off-grid renewable energy (OGRE) projects is one of the most significant challenges due to barriers such as limited financing access, low affordability for consumers, and high transactions costs. However, the benefits of electrification are beyond financial calculation, such as human development, improvement of life quality, generation of additional productive activities, access to information, and education. For these considerations, various instruments have been implemented to facilitate OGRE investment. However, which instruments shall be adopted is still a challenging question for policymakers. Answers to this question are practical and urgent for many Association of Southeast Asian Nations (ASEAN) countries that have the need to develop OGRE projects. This study assesses the effectiveness of those instruments from various perspectives and provides reference to further policymaking. Instruments that have been widely used are collected by this study through literature review and case study. The study proposes a framework consisting of three dimensions: feasibility, sustainability, and replicability for assessing the effectiveness of those instruments. The weights of each dimension were decided by surveying experts. Experts from various backgrounds, including policymakers, industrial players, and other relevant stakeholders evaluated each instrument from the three dimensions. Based on studying the literature and findings of the survey, policy implications for ASEAN policymakers were drawn.

Keywords: Off-grid renewable energy; rural electrification; investment facilitation (search for similar items in EconPapers)
JEL-codes: I38 Q28 Q47 (search for similar items in EconPapers)
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