The Economics of Renewable Energy - Revision history

Michael Malone: Spelling changes - "Investment"

2024-11-07T13:29:42Z

Spelling changes - "Investment"

Maximilian Barth: /* Costs of Fossil Fuels */

2019-10-30T10:00:00Z

Costs of Fossil Fuels

Johanna at 11:04, 29 October 2019

2019-10-29T11:04:57Z

Johanna at 10:56, 29 October 2019

2019-10-29T10:56:23Z

Show changes

Maximilian Barth: /* Rationale for Renewables */

2019-10-28T16:05:09Z

Rationale for Renewables

Maximilian Barth: /* Rationale for Renewables */

2019-10-28T16:04:19Z

Rationale for Renewables

Maximilian Barth: /* Rationale for Renewables */

2019-10-28T15:18:28Z

Rationale for Renewables

Ranisha at 13:10, 9 February 2019

2019-02-09T13:10:24Z

Ahmed El-Sherbini at 15:41, 17 October 2018

2018-10-17T15:41:15Z

Show changes

Ahmed El-Sherbini at 14:58, 17 October 2018

2018-10-17T14:58:14Z

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 <br/>
-The future of the renewables industry depends on finance, risk-return profiles, business models, <span style="background-color: rgb(255, 255, 255)">lifetime's&nbsp;</span>investment and a sum of other economic, policy and social factors. Many new&nbsp;[[Portal:Financing and Funding|sources of finance]]&nbsp;are possible such as insurance funds, pension funds and sovereign wealth funds along with new mechanisms for financial risk mitigation. Many new business models are also possible for local energy services, utility services, transport, community and cooperative ownership, and rural energy services&nbsp;<ref name="Appleyard, D., March 2013. The Future of Renewables: Economic, Policy and Social Impications - Renewable Energy World International. Available at: http://www.renewableenergyworld.com/rea/news/article/2013/03/from-the-editor20">Appleyard, D., March 2013. The Future of Renewables: Economic, Policy and Social Impications - Renewable Energy World International. Available at: http://www.renewableenergyworld.com/rea/news/article/2013/03/from-the-editor20</ref>.
+The future of the renewables industry depends on finance, risk-return profiles, business models, <span style="background-color: rgb(255, 255, 255)">lifetime's&nbsp;</span>investment and a sum of other economic, policy and social factors. Many new&nbsp;[[Portal:Financing and Funding|sources of finance]]&nbsp;are possible such as insurance funds, pension funds and sovereign wealth funds along with new mechanisms for financial risk mitigation.<ref>Sources of Finance in relation to mitigating financial risk - [https://nationalpensionhelpline.ie National Pension Helpline]</ref> Many new business models are also possible for local energy services, utility services, transport, community and cooperative ownership, and rural energy services&nbsp;<ref name="Appleyard, D., March 2013. The Future of Renewables: Economic, Policy and Social Impications - Renewable Energy World International. Available at: http://www.renewableenergyworld.com/rea/news/article/2013/03/from-the-editor20">Appleyard, D., March 2013. The Future of Renewables: Economic, Policy and Social Impications - Renewable Energy World International. Available at: http://www.renewableenergyworld.com/rea/news/article/2013/03/from-the-editor20</ref>.
 <br/>
-== Global Investements in Renewables ==
+== Global Investments in Renewables ==
 In 2011, the global investment in renewable power and fuels increased to a new record. Significantly, developing economies made up 35% of this total investment&nbsp;<ref name="Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.">Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.</ref>. In addition, the whole period 2004-2017 has witnessed a remarkable increase in investments in renewables, either in different sectors, or for different technologies, in different countries with different economic systems, as illustrated in the following figures<ref name="Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment">Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment</ref>. However, recent years have seen investments in renewable energy in the power sector stagnate. Yet, renewable power generation capacity continued to be installed at record pace mainly thanks to continuously falling technology cost. Notable trends for 2018 were that investments continued to be geographically more widely spread, with 29 countries now recording USD 1bn or more in investments (25 countries in 2017), and an additional 14 countries exceeding USD 500m.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref>&nbsp;2018 also marked the fourth year in a row, where investments in developing countries were higher than in developed countries.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref><br/>

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 <br/>
 == Costs of Fossil Fuels ==
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 <u>Costs relative to fossil fuels are also important particularly because:</u>
-'''1. Fossil-fuel energy does not reflect its full social costs. '''<br/>
+'''1. Fossil-fuel energy does not reflect its full social and environmental costs. '''<br/>
 *Climate change has been described as the "biggest market failure in history" (Stern Review, 2006) because the environmental costs associated with carbon emissions are not included in market prices.<br/>
 *Furthermore, fossil fuels are [[Subsidies|subsidized]] for about US$300 billion per year. Removing theses subsidies and incorporating externalities into fossil fuel costs would dramatically change relative costs<ref name="Griffith-Jones, S., Ocampo, J. A. & Spratt, S., 2011. Financing Renewable Energy in Developing Countries: Mechanisms and Responsibilities. Available at: http://erd-report.eu/erd/report_2011/documents/dev-11-001-11researchpapers_griffith-jones-ocampo-spratt.pdf">Griffith-Jones, S., Ocampo, J. A. & Spratt, S., 2011. Financing Renewable Energy in Developing Countries: Mechanisms and Responsibilities. Available at: http://erd-report.eu/erd/report_2011/documents/dev-11-001-11researchpapers_griffith-jones-ocampo-spratt.pdf</ref>.
 *Also the external costs which are related to the use of fossil fuels, stemming from different causes: pollution and environmental degradation as a consequence of extraction of resources, indoor and outdoor air pollution, resulting from direct fuel combustion, as well as non-combustion emissions (e.g. industrial processes)<ref name="Markandya, A. Saygin, D. Miketa, A. Gielen, D. & Wagner, N. (2016). The True Cost of Fossil Fuels: Saving on the Externalities of Air Pollution and Climate Change. Retrieved From: https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2016/IRENA_REmap_externality_brief_2016.pdf">Markandya, A. Saygin, D. Miketa, A. Gielen, D. & Wagner, N. (2016). The True Cost of Fossil Fuels: Saving on the Externalities of Air Pollution and Climate Change. Retrieved From: https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2016/IRENA_REmap_externality_brief_2016.pdf</ref>.
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 == Market Competition - Renewables V.s. Fossil Fuels ==

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 <br/>
 In 2011, the global investment in renewable power and fuels increased to a new record. Significantly, developing economies made up 35% of this total investment&nbsp;<ref name="Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.">Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.</ref>. In addition, the whole period 2004-2017 has witnessed a remarkable increase in investments in renewables, either in different sectors, or for different technologies, in different countries with different economic systems, as illustrated in the following figures<ref name="Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment">Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment</ref>. However, recent years have seen investments in renewable energy in the power sector stagnate. Yet, renewable power generation capacity continued to be installed at record pace mainly thanks to continuously falling technology cost. Notable trends for 2018 were that investments continued to be geographically more widely spread, with 29 countries now recording USD 1bn or more in investments (25 countries in 2017), and an additional 14 countries exceeding USD 500m.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref>&nbsp;2018 also marked the fourth year in a row, where investments in developing countries were higher than in developed countries.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref><br/>
@@ Line 80: / Line 82: @@
 [[File:Acquisition transactions RE by sector 2004-2018.jpg|thumb|center|500px|alt=Acquisition transactions RE by sector 2004-2018.jpg]][[File:Renewable energy investments in developed and developing countries 2004-2018.jpg|thumb|center|500px|alt=Renewable energy investments in developed and developing countries 2004-2018.jpg]]<br/>
-[[File:Renewable energy investments 2019 by region.jpg|thumb|center|500px|alt=Renewable energy investments 2019 by region.jpg]][[File:Renewable energy investments by technology 2019.jpg|thumb|center|500px|alt=Renewable energy investments by technology 2019.jpg]]<br/>
+[[File:Renewable energy investments 2019 by region.jpg|thumb|center|500px|alt=Renewable energy investments 2019 by region.jpg]][[File:Renewable energy investments by technology 2019.jpg|thumb|center|500px|alt=Renewable energy investments by technology 2019.jpg]]
-<br/>
+== Barriers for Renewables<br/> ==
 <div>
 Renewable energy technologies (RETs) continue to face a number of '''[[Barriers and Risks to Renewable Energy Financing|barriers]]. '''However, the major challenge is mainly economic, as the issue of renewable energy technologies' costs is vital and central for the prediction of how rapidly the current energy transition will be taking place<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1</ref>. The costs include: infrastructure investment, day-to-day operations, market costs of supply and the environmental costs of the different energy sources<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1</ref>.
@@ Line 222: / Line 218: @@
 <br/>
-{| style="font-size:13.6px; width:759px" cellspacing="0" cellpadding="5" border="1" align="center"
+{| style="font-size:13.6px;  width:759px" cellspacing="0" cellpadding="5" border="1" align="center"
 |+ Table.2: The rise of installed RE total capacity (MW) during the past decade worldwide<ref name="International Renewable Energy Agency (IRENA). (2018). Renewable Capacity Statistics. Retrieved From: https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2018/Mar/IRENA_RE_Capacity_Statistics_2018.pdf">International Renewable Energy Agency (IRENA). (2018). Renewable Capacity Statistics. Retrieved From: https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2018/Mar/IRENA_RE_Capacity_Statistics_2018.pdf</ref>
 |-
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 <references />&nbsp;
 [[Category:Biomass]]

@@ Line 48: / Line 48: @@
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@@ Line 75: / Line 76: @@
 <br/>
-[[File:Acquisition transactions RE by sector 2004-2018.jpg|thumb|center|500px]][[File:Renewable energy investments in developed and developing countries 2004-2018.jpg |thumb|center|500px]]<br/>
+[[File:Acquisition transactions RE by sector 2004-2018.jpg|thumb|center|500px|alt=Acquisition transactions RE by sector 2004-2018.jpg]][[File:Renewable energy investments in developed and developing countries 2004-2018.jpg|thumb|center|500px|alt=Renewable energy investments in developed and developing countries 2004-2018.jpg]]<br/>
-[[File:Renewable energy investments 2019 by region.jpg|thumb|center|500px]][[File:Renewable energy investments by technology 2019.jpg |thumb|center|300px]]<br/>
+[[File:Renewable energy investments 2019 by region.jpg|thumb|center|500px|alt=Renewable energy investments 2019 by region.jpg]][[File:Renewable energy investments by technology 2019.jpg|thumb|center|500px|alt=Renewable energy investments by technology 2019.jpg]]<br/>
 <br/><br/>

@@ Line 48: / Line 48: @@
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@@ Line 70: / Line 71: @@
 <br/>
-In 2011, the global investment in renewable power and fuels increased to a new record. Significantly, developing economies made up 35% of this total investment&nbsp;<ref name="Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.">Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.</ref>. In addition, the whole period 2004-2017 has witnessed a remarkable increase in investments in renewables, either in different sectors, or for different technologies, in different countries with different economic systems, as illustrated in the following figures<ref name="Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment">Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment</ref>. However, recent years have seen investments in renewable energy in the power sector stagnate. Yet, renewable power generation capacity continued to be installed at record pace mainly thanks to continuously falling technology cost. Notable trends for 2018 were that investments continued to be geographically more widely spread, with 29 countries now recording USD 1bn or more in investments (25 countries in 2017), and an additional 14 countries exceeding USD 500m.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report ">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref>&nbsp;2018 also marked the fourth year in a row, where investments in developing countries were higher than in developed countries.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report ">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref><br/>
+In 2011, the global investment in renewable power and fuels increased to a new record. Significantly, developing economies made up 35% of this total investment&nbsp;<ref name="Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.">Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.</ref>. In addition, the whole period 2004-2017 has witnessed a remarkable increase in investments in renewables, either in different sectors, or for different technologies, in different countries with different economic systems, as illustrated in the following figures<ref name="Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment">Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment</ref>. However, recent years have seen investments in renewable energy in the power sector stagnate. Yet, renewable power generation capacity continued to be installed at record pace mainly thanks to continuously falling technology cost. Notable trends for 2018 were that investments continued to be geographically more widely spread, with 29 countries now recording USD 1bn or more in investments (25 countries in 2017), and an additional 14 countries exceeding USD 500m.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref>&nbsp;2018 also marked the fourth year in a row, where investments in developing countries were higher than in developed countries.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref><br/>
 <br/>
-[[File:Economics of RE 15- New Global Investments ($Bn) in Renewables by Asset Class 2004-2017 (FS-UNEP, 2018).PNG|thumb|center|850px|New Global Investments ($Bn) in Renewables by Asset Class 2004-2017 (FS-UNEP, 2018)]]<br/>
+[[File:Acquisition transactions RE by sector 2004-2018.jpg|thumb|center|500px]][[File:Renewable energy investments in developed and developing countries 2004-2018.jpg |thumb|center|500px]]<br/>
-[[File:Economics of RE 16- New Global Investments ($Bn) in Renewables in Developing & Developed Countries 2004-2017 (FS-UNEP, 2018).PNG|thumb|center|850px|New Global Investments ($Bn) in Renewables in Developing & Developed Countries 2004-2017 (FS-UNEP, 2018)]]<br/>
+[[File:Renewable energy investments 2019 by region.jpg|thumb|center|500px]][[File:Renewable energy investments by technology 2019.jpg |thumb|center|300px]]<br/>
-<br/>[[File:Economics of RE 19- New Global Investments in Renewables by the Type of Economy 2004-2017 (FS-UNEP, 2018).PNG|thumb|center|850px|New Global Investments in Renewables by the Type of Economy 2004-2017 (FS-UNEP, 2018)]]<br/>
+<br/><br/>
-[[File:Economics of RE 20- New Global Investments ($Bn) in Renewables by Region in 2017 (FS-UNEP, 2018).PNG|thumb|center|850px|New Global Investments ($Bn) in Renewables by Region in 2017 (FS-UNEP, 2018)]]
+<br/>
 <br/>
-[[File:Economics of RE 17- Public Markets Investment ($Bn) in RE by Sector in 2017 (FS-UNEP, 2018).PNG|thumb|center|850px|Public Markets Investment ($Bn) in RE by Sector in 2017 (FS-UNEP, 2018)]]<br/>
+<br/>
 <div>
 Renewable energy technologies (<span data-scaytid="12" data-scayt_word="rets">RETs</span>) continue to face a number of '''[[Barriers and Risks to Renewable Energy Financing|barriers]]. '''However, the major challenge is mainly economic, as the issue of renewable energy technologies' costs is vital and central for the prediction of how rapidly the current energy transition will be taking place<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1</ref>. The costs include: infrastructure investment, day-to-day operations, market costs of supply and the environmental costs of the different energy sources<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1</ref>.

@@ Line 49: / Line 49: @@
 <br/>
-= Rationale for <span data-scayt_word="renewables" data-scaytid="4">Renewables</span> =
 Reasons which have contributed to the acceleration of both public and private investment in renewable energy<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://bit.ly/2MYDllY">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://bit.ly/2MYDllY</ref>:
@@ Line 61: / Line 62: @@
 <br/>
-Utilizing <span data-scayt_word="renewables" data-scaytid="2">renewables</span> would help to avoid these problems, create new job opportunities and reduce the drain on hard currency for poorer countries. Because conventional fuels have received long-term subsidies in the past, it is vital that governments support the development of <span data-scayt_word="renewables" data-scaytid="3">renewables</span> in the form of financial incentives that can create a level playing field <ref name="United Nations Environment Programme Finance Initiative (UNEP FI), 2004. CEO briefing - Renewable Energy, Geneva, Switzerland: United Nations Environment Programme Finance Initiative (UNEP FI).">United Nations Environment Programme Finance Initiative (UNEP FI), 2004. CEO briefing - Renewable Energy, Geneva, Switzerland: United Nations Environment Programme Finance Initiative (UNEP FI).</ref>.
+Utilizing <span data-scaytid="2" data-scayt_word="renewables">renewables</span> would help to avoid these problems, create new job opportunities and reduce the drain on hard currency for poorer countries. Because conventional fuels have received long-term subsidies in the past, it is vital that governments support the development of <span data-scaytid="3" data-scayt_word="renewables">renewables</span> in the form of financial incentives that can create a level playing field <ref name="United Nations Environment Programme Finance Initiative (UNEP FI), 2004. CEO briefing - Renewable Energy, Geneva, Switzerland: United Nations Environment Programme Finance Initiative (UNEP FI).">United Nations Environment Programme Finance Initiative (UNEP FI), 2004. CEO briefing - Renewable Energy, Geneva, Switzerland: United Nations Environment Programme Finance Initiative (UNEP FI).</ref>.
 <br/>
-The future of the&nbsp;<span data-scayt_word="renewables" data-scaytid="8">renewables</span>&nbsp;industry depends on finance, risk-return profiles, business models, <span style="background-color: rgb(255, 255, 255);">lifetime's&nbsp;</span>investment and a sum of other economic, policy and social factors. Many new&nbsp;[[Portal:Financing and Funding|sources of finance]]&nbsp;are possible such as insurance funds, pension funds and sovereign wealth funds along with new mechanisms for financial risk mitigation. Many new business models are also possible for local energy services, utility services, transport, community and cooperative ownership, and rural energy services&nbsp;<ref name="Appleyard, D., March 2013. The Future of Renewables: Economic, Policy and Social Impications - Renewable Energy World International. Available at: http://www.renewableenergyworld.com/rea/news/article/2013/03/from-the-editor20">Appleyard, D., March 2013. The Future of Renewables: Economic, Policy and Social Impications - Renewable Energy World International. Available at: http://www.renewableenergyworld.com/rea/news/article/2013/03/from-the-editor20</ref>.
+The future of the&nbsp;<span data-scaytid="8" data-scayt_word="renewables">renewables</span>&nbsp;industry depends on finance, risk-return profiles, business models, <span style="background-color: rgb(255, 255, 255);">lifetime's&nbsp;</span>investment and a sum of other economic, policy and social factors. Many new&nbsp;[[Portal:Financing and Funding|sources of finance]]&nbsp;are possible such as insurance funds, pension funds and sovereign wealth funds along with new mechanisms for financial risk mitigation. Many new business models are also possible for local energy services, utility services, transport, community and cooperative ownership, and rural energy services&nbsp;<ref name="Appleyard, D., March 2013. The Future of Renewables: Economic, Policy and Social Impications - Renewable Energy World International. Available at: http://www.renewableenergyworld.com/rea/news/article/2013/03/from-the-editor20">Appleyard, D., March 2013. The Future of Renewables: Economic, Policy and Social Impications - Renewable Energy World International. Available at: http://www.renewableenergyworld.com/rea/news/article/2013/03/from-the-editor20</ref>.
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-In 2011, the global investment in renewable power and fuels increased to a new record. Significantly, developing economies made up 35% of this total investment&nbsp;<ref name="Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.">Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.</ref>. In addition, the whole period 2004-2017 has witnessed a remarkable increase in investments in renewables, either in different sectors, or for different technologies, in different countries with different economic systems, as illustrated in the following figures<ref name="Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment">Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment</ref>.
+In 2011, the global investment in renewable power and fuels increased to a new record. Significantly, developing economies made up 35% of this total investment&nbsp;<ref name="Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.">Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance, 2012. Global Trends in Renewable Energy Investment 2012, Frankfurt am Main, Germany: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance.</ref>. In addition, the whole period 2004-2017 has witnessed a remarkable increase in investments in renewables, either in different sectors, or for different technologies, in different countries with different economic systems, as illustrated in the following figures<ref name="Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment">Frankfurt School & United Nations Environment Programme (FS-UNEP Collaborating Centre). (2018). Global Trends in Renewable Energy Investment 2018. Retrieved From: https://europa.eu/capacity4dev/search?text=Renewable%20energy%20investment</ref>. However, recent years have seen investments in renewable energy in the power sector stagnate. Yet, renewable power generation capacity continued to be installed at record pace mainly thanks to continuously falling technology cost. Notable trends for 2018 were that investments continued to be geographically more widely spread, with 29 countries now recording USD 1bn or more in investments (25 countries in 2017), and an additional 14 countries exceeding USD 500m.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report ">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref>&nbsp;2018 also marked the fourth year in a row, where investments in developing countries were higher than in developed countries.<ref name="Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report ">Frankfurt School of Finance & Management – UNEP Collaborating Centre (2019). Global Trends in Renewable Energy Investment 2019. http://fs-unep-centre.org/research/report </ref><br/>
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 [[File:Economics of RE 17- Public Markets Investment ($Bn) in RE by Sector in 2017 (FS-UNEP, 2018).PNG|thumb|center|850px|Public Markets Investment ($Bn) in RE by Sector in 2017 (FS-UNEP, 2018)]]<br/>
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-Renewable energy technologies (<span data-scayt_word="rets" data-scaytid="12">RETs</span>) continue to face a number of '''[[Barriers and Risks to Renewable Energy Financing|barriers]]. '''However, the major challenge is mainly economic, as the issue of renewable energy technologies' costs is vital and central for the prediction of how rapidly the current energy transition will be taking place<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1</ref>. The costs include: infrastructure investment, day-to-day operations, market costs of supply and the environmental costs of the different energy sources<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1</ref>.
+Renewable energy technologies (<span data-scaytid="12" data-scayt_word="rets">RETs</span>) continue to face a number of '''[[Barriers and Risks to Renewable Energy Financing|barriers]]. '''However, the major challenge is mainly economic, as the issue of renewable energy technologies' costs is vital and central for the prediction of how rapidly the current energy transition will be taking place<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1</ref>. The costs include: infrastructure investment, day-to-day operations, market costs of supply and the environmental costs of the different energy sources<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1</ref>.
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 = Rationale for <span data-scayt_word="renewables" data-scaytid="4">Renewables</span> =
-Reasons which have contributed to the acceleration of both public and private investment in renewable energy<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://openknowledge.worldbank.org/bitstream/handle/10986/20524/922240PUB0978100Box385358B00PUBLIC0.pdf?sequence=1</ref>:
+Reasons which have contributed to the acceleration of both public and private investment in renewable energy<ref name="Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf">Timmons, D. Harris, J. M. & Roach, B. (2014). The Economics of Renewable Energy. Retrieved From: https://ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf</ref><ref name="Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://bit.ly/2MYDllY">Meier, P. Vagliasindi, M. Imran, M. Eberhard, A. & Siyambalapitiya, T. (2015). The Design and Sustainability of Renewable Energy Incentives: An Economic Analysis. Retrieved From: https://bit.ly/2MYDllY</ref>:
 #The growing demand for energy, which consequently requires a certain economic development.<br/>
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 <references />&nbsp;
 [[Category:Biomass]]