Financing energy transformation: The role of renewable energy equity indices

The support of financial markets for the transformation of the energy system to a low carbon society seems critical for its success. But will they support this transformation on the basis of market incentives alone? This study analyses how equity indices that try to capture renewable energy investments perform compared to conventional benchmark indices. Especially financial market investors—such as pension funds, insurance companies, and mutual funds—use these to assess and guide their renewable energy investments. As such, we take the perspective of financial market participants, which mainly only indirectly invest in renewable energy. We also analyze whether renewable energy indices are to be regarded as an example of market environmentalism. We find that the renewable energy indices’ risk-adjusted return is very poor and suggests renewables is not a financially attractive portfolio investment yet. We also argue that renewable energy equity indices can be regarded as an example of market environmentalism, especially with respect to commodification and frame-shifting.     

Cautious but Committed: Moving Toward Adaptive Planning and Operation Strategies for Renewable Energy’s Wildlife Implications

Wildlife planning for renewable energy must cope with the uncertainties of potential wildlife impacts. Unfortunately, the environmental policies which instigate renewable energy and those which protect wildlife are not coherently aligned—creating a green versus green dilemma. Thus, climate mitigation efforts trigger renewable energy development, but then face substantial barriers from biodiversity protection instruments and practices. This article briefly reviews wind energy and wildlife interactions, highlighting the lively debated effects on bats. Today, planning and siting of renewable energy are guided by the precautionary principle in an attempt to carefully address wildlife challenges. However, this planning attitude creates limitations as it struggles to negotiate the aforementioned green versus green dilemma. More adaptive planning and management strategies and practices hold the potential to reconcile these discrepancies to some degree. This adaptive approach is discussed using facets of case studies from policy, planning, siting, and operational stages of wind energy in Germany and the United States, with one case showing adaptive planning in action for solar energy as well. This article attempts to highlight the benefits of more adaptive approaches as well as the possible shortcomings, such as reduced planning security for renewable energy developers. In conclusion, these studies show that adaptive planning and operation strategies can be designed to supplement and enhance the precautionary principle in wildlife planning for green energy.     

Social Learning Through Evaluation: A Case Study of Overcoming Constraints for Management of Dryland Salinity

Conventional approaches to evaluation of environmental programs have tended to limit themselves to restricted measures of program effectiveness. This paper shows how a social learning approach can be incorporated into evaluating public environmental programs. A social learning approach is particularly suited to complex environmental challenges which are inherently difficult to understand, predict, and manage, thus complicating the evaluation process. The paper presents an Australian case study of dryland salinity management where there are major knowledge barriers impeding conventional management techniques. The research presented in this paper focused on evaluating a public demonstration program to track its impact through its design, implementation, and monitoring phases. The paper shows that, by incorporating social learning principles and practices, program evaluation can promote collective action, critical reflection, and increased knowledge to underpin improved environmental management.     

Promotion of renewable energy technologies in Tanzania

The United Republic of Tanzania is currently facing energy problems that have seriously affected its socio-economic development and environment. To solve these problems, the country is striving to exploit its renewable energy potential, among other efforts. This publication highlights the prevailing energy situation in Tanzania and provides a short review of potential energy resources. It then discusses current institutional efforts and capabilities in research, development, diffusion and commercialization of renewable energy technologies. The paper also identifies some barriers to promotion of renewable energy technologies. Finally, it outlines the energy policy of Tanzania and actions taken by the government of Tanzania to promote renewable energy technologies.     

Looking beyond incentives: the role of champions in the social acceptance of residential solar energy in regional Australian communities

Research into renewable energy adoption is increasingly identifying that the successful implementation of renewable energy projects is influenced by a combination of market, community and socio-political acceptance of renewable energy technology. This research uses case studies in two regional Australian communities to examine the social acceptance of residential solar energy, in particular under the influence of financial incentives and social interactions. Fifty-five semi-structured interviews with members of the local community, industry and government were undertaken between May and October 2015. Respondents were asked about their perceptions and knowledge of solar energy and incentives to support its adoption, and their interactions with actors important in the diffusion process. Responses indicated that financial incentives motivated solar adoption; however, social interactions in the communities also contributed to decision-making. In one case study, a local “solar champion” built a private solar farm to demonstrate the technical feasibility of solar, assisted community members with physically installing their own systems and helped community members to maximise the financial benefits of their solar installations. This solar champion contributed to this community having an earlier and more rapid rate of small-scale solar adoption compared with the second case study community. The second case study community included two individuals interested in promoting solar energy; however, they were less integrated with the community’s process of adopting solar, resulting in community members experiencing substandard installations and consequent distrust of the solar industry. This research concludes that local context influences solar adoption through complex interactions among market, community and socio-political acceptance.     

Renewable energy programmes in India

There is increasing optimism regarding the possible role that renewable energy technologies can play in the coming decade in the energy sector in India. Some recent developments and trends within the renewable energy sector that are responsible for this optimism, and the likely investments of the order of US$1210 million in the next four to five years, are discussed. The paper includes discussion of the recent changes in the implementing institutions, innovation in financing renewable technology investments, and a shift from financial to fiscal incentives. In addition, wind power generation, small hydro, photovoltaic and gasifier programmes are analysed in some detail.     

A Site-Related Suitability Analysis for the Production of Biomass as a Contribution to Sustainable Regional Land-Use

The use of renewable energy in Europe offers the possibility of reducing greenhouse gas emissions, and contributes to energy security and independence. With the reform of the Common Agricultural Policy (CAP) and a variety of recently introduced national directives supporting renewable energy sources in the European Union, the economic attractiveness of bioenergy production has distinctly increased. This article combines an economic evaluation of biomass production with site-related natural conditions of the Havelland region, situated in the north-east area of Germany. Two methods for evaluating site-specific potential biomass yields were compared. For three example biomass crops, evaluations of yield estimations at agricultural lots for site-optimized suitability (SOS) and conventional suitability (CS) were carried out. Both modelling approaches were compared. The results of the GIS modelling indicate that the financial support for increasing the use of renewable energy with the German feed-in system, called Erneuerbare-Energien-Gesetz (EEG), will possibly lead to an increased cultivation of crops with high biomass output. This monocultural orientation of farming practices and the negative effects on the ecosystem could act in opposition to other environmental initiatives of the EU. The outputs of the SOS analysis show that high biomass production could be integrated into environmental policy proposals. Therefore, new EU policy should take modified subsidies into consideration in order to avoid developing conflicts between small-scale changes in landscape ecosystems caused by large-scale transformations in energy policy.     

Availability and access of financial support for renewables: issues and an illustrative innovation

This paper examines issues related to increasing the market penetration of renewable forms of energy in developing countries. It particularly focuses on availability and access of financial support for investments relating to renewable energy and a case study is presented illustrating innovative financing. While the main focus of the discussion is on renewable energy (RE) attention is also devoted to energy efficiency (EE) projects and investment. An underlying premise is that, if RE projects are to reach their market potential, they must be fiscally sustainable and the appropriate promotion of such fiscally sustainable RE projects yields multiple environmental and developmental synergies. Commercial viability is not primarily a question of technology. There is a broad range of RE products with proven performance and commercial operation in selected market situations. The challenge of extending this market penetration is to establish the institutional, organizational and financial conditions under which a commercial market for these products can develop, particularly in developing countries. This article reflects current emphasis on increased private participation in the energy sector, as well as policy reform at the national level.     

Empowering communities – the role of intermediary organisations in community renewable energy projects in Indonesia

Community Renewable Energy (CRE) has been defying conventional energy systems for decades, though only recently it started to feature in academic and institutional discourses. Despite its new appeal, the literature on the impacts and factors influencing CRE projects is still scarce and builds mostly on studies in Europe and North America. In developing countries, where electricity access is low and energy poverty is prevalent, CRE can offer interesting opportunities for rural electrification and added benefits. The objective of this study is to assess the impacts of community-owned renewable energy projects and identify the internal and external drivers and barriers to their success. An exploratory case-study approach was used for collecting data, through interviews and observations, in two community micro-hydro projects in Indonesia. The results showed positive socio-economic impacts that exceed electrification benefits, and the reported success of community energy projects can be traced back to a combination of community-level as well as external factors. Yet, particularly important is the role of the intermediary organisation (Ibeka) in building communities’ ownership, enhancing (technical, entrepreneurial and managerial) capacities, transferring knowledge and technology, establishing innovative financing models and shaping policy. Such organisations are critical in bridging external and internal factors and thus represent a key element in integrating the proposed analytical frameworks.     

NEW FEDERAL SUPPORT FOR PRIORITY WATERSHED MANAGEMENT NEEDS1

ABSTRACT: In the past five years, USDA and EPA programs became major players in implementing watershed programs. The 1996 Farm Bill for the first time required that USDA assistance for farmers address priority environmental needs on a site‐specific, or watershed, basis. USDA involves farmers and other players in locally run watershed programs and focuses cost share and incentive payments on nutrient planning, riparian protection, and other practices prioritized to most efficiently achieve watershed goals. As a result, USDA has become a funding source for environmental initiatives targeted to watersheds, as well as a technical resource that attempts to support more efficient use of federal and state environmental expenditures. Analysis identifies institutional and technical barriers to targeting the very limited, new assistance and suggests how those barriers are being addressed by some innovative programs. Since Total Maximum Daily Load (TMDL) and other state run programs face many of the same challenges of ranking watersheds, setting goals, and finding cost effective remedies, this paper identifies a very close fit between the new federal programs and other watershed programs.     

碳中和愿景下中国电力部门的生物质能源技术部署战略研究

2020年9月22日,习近平主席在第七十五届联合国大会上郑重承诺,中国将提高自主贡献力度,采取更加有力的政策和措施,努力争取2060年前实现碳中和。电力部门是我国能源系统实现碳中和的关键,而生物质能源技术在电力部门的部署对于推动实现碳中和具有不可替代的重要意义。本文针对三类生物质能源的发电技术,包括生物质直燃/气化发电、生物质耦合发电、生物质与碳捕获封存技术联合发电,分析了技术的国内外发展现状,并从技术可行性、资源可行性、经济可行性和环境影响等方面评析了其在推动电力部门低碳转型过程中的可行性。同时,结合碳中和愿景下电力部门的减排要求及对相关技术潜力的最新研判,对生物质能源技术在我国电力部门的部署提出了相应的政策建议。     

Green jobs,livelihoods and the post-carbon economy in African cities

This article examines the potential contribution of household scale off-grid renewable energy generation to the post-carbon economy. The large-scale focus of the green jobs agenda in high-income countries obscures how small-scale technologies can be a transformative source of employment in developing economies. Debates about what constitutes a green job and their value leaves out the everyday practice of green livelihoods carried out by the urban poor across the African continent in unfavourable institutional contexts where nonrenewable fuel is subsidised and renewable energy inputs are heavily taxed. The article presents experiences from field work in several countries, including Egypt, Nigeria and Kenya to provide practical examples of communities pursuing strategies of income generation, community empowerment and environmental preservation. We argue that scholars and practitioners concerned with both social justice and environmental preservation should embrace a definition of green jobs that is bottom-up or people-centred. The grassroots experiences highlighted illustrate the important role of non-governmental organisations in supporting transformative, locally sustainable green employment and livelihoods by piloting demonstration projects, fostering innovation, conducting research, forming coalitions and engaging in advocacy when local institutions and market conditions make both consumers and providers risk averse to off-grid renewable energy adoption.     

The decline of environmental degradation by renewable energy consumption in the MERCOSUR countries: an approach with ARDL modeling

The impact of consumption of renewable energy on CO₂ emissions was investigated, in five MERCOSUR’s countries from 1980 to 2014. The autoregressive distributed lag (ARDL) in the form of Unrestricted Error Correction Model to decompose the total effect of variables into it is the short- and long-run components. The results of preliminary tests showed the presence of cross-sectional dependence between the variables, the stationarity of all variables in the first differences, and the homogeneity in panel data. Moreover, the specification tests pointed to the presence of cross-sectional dependence, non-correlation between the crosses, serial correlation in the panel data model, and the existence of heteroskedasticity. The results of semi-elasticities (short run) and elasticities (long run) of ARDL model pointed that the economic growth and consumption of fossil fuels increase the CO₂ emissions in the short and long run, while the consumption of renewable energy reduces them. Despite the consumption of renewable energy reducing the environmental degradation in the MERCOSUR countries, its impact is small. Finally, this study proved that the consumption of renewable energy is able to reduce the CO₂ emissions, which is responsible for the environmental degradation in the MERCOSUR countries, and that the economic growth of these same countries increases the CO₂ emissions, along with the fact that all MERCOSUR countries are highly dependent of fossil fuels.     

中国煤电企业环境压力测试

中国煤电行业的发展伴随着各种环境风险,本文以典型煤电企业为例,在产能过剩、能效标准提高、环境保护税、全国碳市场、水资源税和非水可再生能源规划目标的风险约束下,建立环境成本内部化和环境风险分析工具,考虑不同压力情境下对煤电企业价值的影响,构建环境风险影响财务成本的压力测试框架。结果表明,对单个风险而言,产能过剩和碳市场风险对企业价值的影响是大多数地区在不同情景中面临的主要风险驱动因素。对于综合风险压力测试而言,各地区1 000MW超超临界机组乐观情景及悲观情景的企业价值距合理回报预期企业价值相差小,而300MW和600MW亚临界机组因能效水平低、经营成本高等原因在环境风险压力下企业价值偏离合理回报较多。随着环境风险严重程度的不断增加,环境压力测试有助于煤电企业和金融机构了解环境风险对企业财务状况的影响,从而对投资决策产生影响。     

Developing a sustainable energy strategy for a water utility. Part II: A review of potential technologies and approaches

Environmental legislation is increasing the amounts of bought-in electricity required for sewage treatment, and generating larger volumes of sewage sludge to be treated and disposed of. Concurrently, concerns over global warming and food safety from sewage sludge recycling on agricultural land is augmenting the costs of conventional sewage and sludge treatment technologies and practices. This paper reviews some emerging technologies and practices that may assist in mitigating these problems in the future. In addition, a number of potential renewable energy technologies available to water companies are reviewed. Results suggest that through the take-up of new technologies, current and future water quality standards could be delivered in a more sustainable way. However, this series of papers also highlights that institutional and political conflicts may have inadvertently failed to recognise the wider effects of improving water quality and lessened the financial support necessary for their widespread take-up. It is also suggested that through the use of a Strategic Environmental Assessment (SEA) approach, stakeholders could gain a better understanding of the broader environmental effects of achieving certain water quality standards and develop policy and long-term investment strategies accordingly. However, to fulfill the information requirements of an SEA, an appropriate appraisal tool that considers many of these factors in unison is required, and a possible technique is suggested.     

Degradation and removal methods of antibiotics from aqueous matrices--a review

Over the past few years, antibiotics have been considered emerging pollutants due to their continuous input and persistence in the aquatic ecosystem even at low concentrations. They have been detected worldwide in environmental matrices, indicating their ineffective removal from water and wastewater using conventional treatment methods. To prevent this contamination, several processes to degrade/remove antibiotics have been studied. This review addresses the current state of knowledge concerning the input sources, occurrence and mainly the degradation and removal processes applied to a specific class of micropollutants, the antibiotics. In this paper, different remediation techniques were evaluated and compared, such as conventional techniques (biological processes, filtration, coagulation, flocculation and sedimentation), advanced oxidation processes (AOPs), adsorption, membrane processes and combined methods. In this study, it was found that ozonation, Fenton/photo-Fenton and semiconductor photocatalysis were the most tested methodologies. Combined processes seem to be the best solution for the treatment of effluents containing antibiotics, especially those using renewable energy and by-products materials.     

Managing climate change vulnerabilities: formal institutions and knowledge use as determinants of adaptive capacity at the local level in Sweden

Though managing vulnerabilities posed by climate change calls for effective strategies and measures, its challenges have hitherto not been fully understood. In Sweden, municipalities have recently started incorporating vulnerability management into their political and administrative agendas. This study discusses such experiences and explores how institutional determinants may influence adaptive capacity within a local case study area, to illustrate emerging challenges and opportunities for Swedish municipalities in managing climate vulnerabilities. Specifically, formal institutional structure and the use of knowledge are analysed, concluding that vulnerability management often is focused on technical and reactive fixes, due to limited co-operation between local sector organisations, lack of local co-ordination, and an absence of methods and traditions to build institutional knowledge. Even so, opportunities, such as a high capacity to examine risks to technical systems and important establishments which in turn facilitates protection of technical infrastructure exposed to climate variability and change, also exist.     

Greenhouse gas emissions and energy balance of sunflower biodiesel: Identification of its key factors in the supply chain

The production of first generation biofuels, such as sunflower-based biodiesel, is potentially an option for diversifying the energy matrix in several South American countries. However, biofuels present environmental challenges, especially concerning the reduction of greenhouse gas (GHG) emissions. This study, using a life-cycle approach, evaluates the GHG emissions and energy balance of the future nationwide production of sunflower-based biodiesel in Chile. Direct land use change is included in the analysis. The overall findings indicate that sunflower biodiesel, under the most likely production conditions, will have better environmental performance than fossil diesel in terms of both indicators. The agricultural stage is associated to key factors such as land use change, and nitrogen fertilizers. These factors contribute significantly to GHG emissions or energy demand in the biodiesel life cycle. The sensitivity analysis shows that no GHG emission saving could occur if nitrogen fertilizers rate exceeds 330 kg N/ha. In order to reduce the environmental impacts of this biofuel, improvement measures are suggested.     

Environmental Justice,Local Knowledge,and Risk: The Discourse of a Community-Based Cumulative Exposure Assessment

While risk assessment continues to drive most environmental management decision-making, its methods and assumptions have been criticized for, among other things, perpetuating environmental injustice. The justice challenges to risk assessment claim that the process ignores the unique and multiple hazards facing low-income and people of color communities and simultaneously excludes the local, non-expert knowledge which could help capture these unique hazards from the assessment discourse. This paper highlights some of these challenges to conventional risk assessment and suggests that traditional models of risk characterization will continue to ignore the environmental justice challenges until cumulative hazards and local knowledge are meaningfully brought into the assessment process. We ask whether a shift from risk to exposure assessment might enable environmental managers to respond to the environmental justice critiques. We review the US EPA's first community-based Cumulative Exposure Project, piloted in Brooklyn, NY, and highlight to what extent this process addressed the risk assessment critiques raised by environmental justice advocates. We suggest that a shift from risk to exposure assessment can provide an opportunity for local knowledge to both improve the technical assessment and its democratic nature and may ultimately allow environmental managers to better address environmental justice concerns in decision-making.     

REDD+ in Africa: contexts and challenges

REDD+, a climate change mitigation mechanism that values carbon in tropical forests, is expected to provide Africa with a range of environmental and socio‐economic benefits. Drawing on a vast array of literature and personal experiences, this review analyzed particular features and challenges that REDD+ implementation has faced on the continent. The distinct contexts and major challenges regarding governance, finance and technical capacities are discussed, and mechanisms to fill these gaps are suggested. Radical land tenure reform and a perfect safeguard mechanism that transfers forest land and carbon to the communities are unlikely. REDD+ should rather look for systems that respect local institutional arrangements, and allow forest‐based communities to participate in decision‐making and benefit sharing, particularly benefits from emerging REDD+. Finances for REDD+ infrastructure and the results‐based payment are in short supply. While negotiating for potential external sources in the short term, Africa should generate domestic financial resources and look for additional payments for ecosystem services. Africa should also negotiate for forest monitoring capacity building, while strengthening local community forest monitoring. This review contributes to an improved understanding of the contexts and challenges to consider in the capacity and policy development for REDD+ implementation.