Page 58 - European Energy Innovation - Autumn 2014
P. 58
Autumn 2014 European Energy Innovation


Creating the right framework
for investment:
Targets and renewable energy

Providing financing for renewable energy is one of the key challenges that faces society in Europe today.
Despite huge amounts of public support for renewable energies1, governments are struggling to find
the capital that decarbonising the economy requires. It is therefore clear that private funding will also
play a significant role in the development of renewable energies in Europe. Only very recently it was
reported that so called green funds would be worth up to $50 Billion USD in 2014 already, and that this is
a growing phenomenon2. The challenge is for governments to ensure that this finance source continues to
grow to deliver the energy transformation that is needed to create a low carbon economy.

This is where the The debate in Europe around targets set the tone for the long
importance of policy can the “at least 27%” renewable term investment climate and
be seen. As investors energy target - included in the provide an indication of likely
look for secure and set of proposals for a Climate growth and return.
stable options to invest in, the and Energy framework for 2030
right policy signals need to be put forward by the European The question is whether the
given to direct smart investments. Commission in January - proposed renewable energy
highlights the importance of target is a sufficient incentive
Dr James Watson, CEO, European Photovoltaic creating the right investment to drive private capital into the
Industry Association (EPIA) climate for private funds. Such renewables sector. Examining
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