Renewable Energy Policies and Their Effects on the Project Company and the Stakeholders’ Ecosystem
摘要
The success of the development of renewable energy infrastructure not only depends on the experience of the promoters, the willingness of the banking sector to fund projects and the competitiveness of the construction sector. It depends on the market environment but also heavily on public policies. Despite the grid parity and competitiveness of the renewable-power price, the development of renewable energy is boosted by public incentives (if not to incentivize promoters, then to compensate for the system-level costs and intermittency). If incentives are introduced and a policy is stable in the long run, confidence is created, investors are attracted, and the sector becomes a ‘bull’ market creating a solid and effective ecosystem. Yet, the business environment, particularly in the renewable energy sector, is constantly changing. Understanding the motivation of political leaders, the interest of the end consumers, such as having access to energy, preferably clean, at a low price, or the interest of project developers, such as having a stable regulatory framework, fair remuneration for clean power, is paramount for successful energy policy implementation. Both in liberal market economies and in coordinated market economies, many tools such as tax exemptions, feed-in-tariff or contract-for-difference, carbon pricing or net-metering are put in place to create favorable market conditions. It is, however, delicate for policymakers to explain and justify subsidies given to the market if they do not see concrete offsets or benefits in form of industrial job creation for instance, even if most of the citizens are now aware of climate change and the need to curb it with the deployment of clean energy. This is one of the reasons some jurisdictions have started introducing additional requirements such as ‘local content’ (the purchase of locally manufactured equipment) for instance and have substituted feed-in-tariffs with auctions systems to improve competition. First a brief introduction to renewable energy policy will be made and second, both the project company and the stakeholders’ ecosystem will be discussed, focusing on matching interests.