Financing the Next Stage of the Global Green Energy Transformation
The last decade experienced a remarkable expansion of the deployment of renewable energy such as wind, solar and bioenergy occurred last decade in several countries including China, USA, Germany and Spain.
This was largely driven by feed-in support schemes and tax breaks, accompanied by a wider enabling framework. Open global markets and emerging new competitors have led to intensive competition in local equipment markets and substantial cost degressions. At the same time a number of equipment manufacturers had to go out of business which has led to a public disillusioning about the sustainability of the local employment effects of national promotional schemes for renewable energies. Suspected state subsidies for some equipment manufacturers in some countries have further burdened the political climate. Additionally, time growing shares of renewable energy led to rising electricity prices, growing budget liabilities or reduced tax revenues.
If green energy markets are to continue their expansion into a broader range of countries, new financing modalities are needed. High hopes for a leading role of the new UN Green Climate Fund (GCF) have been diminished due to long implementation times and reduced financial capabilities of many countries. New types of cooperation among governments, banks, project developers and technology companies are thus needed to proceed into a next phase of the global green energy transformation.
Speaker: Jochen Harnisch, KFW, Frankfurt, Germany
Monday, 10/15/12
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Stanford University Energy Seminar
Huang Science Center
NVIDIA Auditorium
Stanford, CA 94305
NVIDIA Auditorium
Stanford, CA 94305
Website: Click to Visit