Alternatives to private finance: Role of fiscal policy reforms and energy taxation in development of renewable energy projects

Naoyuki Yoshino, Farhad Taghi Zadeh Hesary

研究成果: Chapter

11 被引用数 (Scopus)

抄録

The main obstacle to the development of Renewable Energy (RE) projects is lack of access to finance. Electricity tariff is often regulated by the government, hence, to increase the investment incentives the spill over effects originally created by energy supplies need to be used. Tax revenues are refunded to the investors in energy projects and such fiscal policy reform will increase the rate of return of energy projects. For smaller-size energy projects, this chapter provides a theoretical model for combining utilisation of carbon tax and a new way of financing risky capital, i.e., Hometown Investment Trust Funds (HITs). Because of the Basel capital requirement, and because most RE projects from the point of view of financers are considered to be risky projects, and thus many financers are reluctant to lend to them or they lend at high interest rates. This chapter theoretically shows that by taxing carbon dioxide (CO2), sulphur dioxide (SO2), and nitrogen oxides (NOx) and allocating those tax revenues to HITs, RE projects will become more feasible and more interesting for hometown investors, hence the supply of investment money to these funds will increase.

本文言語English
ホスト出版物のタイトルFinancing for Low-carbon Energy Transition
ホスト出版物のサブタイトルUnlocking the Potential of Private Capital
出版社Springer Singapore
ページ335-357
ページ数23
ISBN(電子版)9789811085826
ISBN(印刷版)9789811085819
DOI
出版ステータスPublished - 2018 6 23
外部発表はい

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)
  • Business, Management and Accounting(all)
  • Environmental Science(all)

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