Protectionism and local content requirements are holding back investment in clean energy and thus undermining the fight against climate change. This Investment Insights puts forward policy options for mobilising investment in clean energy and restoring order and confidence in international markets.
For more information, visit: http://www.oecd.org/daf/inv/mne/green.htm
The new working paper “The Empirics of Enabling Investment and Innovation in Renewable Energy” provides insights on the key policy drivers and barriers to investment and innovation in renewable power in OECD and G20 countries. Based on econometric analysis, it assesses the impacts of climate mitigation policies and the quality of the investment environment on both investment and patenting activity in renewable-power generation since 2000. The analysis also assesses how the investment environment and related policy misalignments influence the effect of climate mitigation policies in encouraging renewables investment and innovation.
www.oecd.org/daf/inv/investment-policy/clean-energy-infrastructure.htm
This brochure presents the policy highlights from OECD Policy Guidance for Investment in Clean Energy Infrastructure: Expanding access to clean energy for green growth and development.
To find out more visit: http://www.oecd.org/daf/inv/investment-policy/clean-energy-infrastructure.htm
This brochure showcases the OECD's work to help governments mobilise private investment in clean energy infrastructure.
To find out more visit: http://www.oecd.org/daf/inv/investment-policy/clean-energy-infrastructure.htm
Poyry - Europe’s energy future – the shape of the beast - Point of ViewPöyry
Decarbonisation requires large scale investment by European energy companies, but threatens their existing revenue streams. Financial investors are becoming wary of the power sector, and new sources of capital are urgently required. Meanwhile, Europe faces a policy dilemma; whether to rely on markets and a strong CO2 regime, or to build national solutions with government-channelled investment. Whichever way this dilemma is
resolved, the traditional role of the electricity companies must adapt: embracing innovation is the first necessary step to the future world.
The new working paper “The Empirics of Enabling Investment and Innovation in Renewable Energy” provides insights on the key policy drivers and barriers to investment and innovation in renewable power in OECD and G20 countries. Based on econometric analysis, it assesses the impacts of climate mitigation policies and the quality of the investment environment on both investment and patenting activity in renewable-power generation since 2000. The analysis also assesses how the investment environment and related policy misalignments influence the effect of climate mitigation policies in encouraging renewables investment and innovation.
www.oecd.org/daf/inv/investment-policy/clean-energy-infrastructure.htm
This brochure presents the policy highlights from OECD Policy Guidance for Investment in Clean Energy Infrastructure: Expanding access to clean energy for green growth and development.
To find out more visit: http://www.oecd.org/daf/inv/investment-policy/clean-energy-infrastructure.htm
This brochure showcases the OECD's work to help governments mobilise private investment in clean energy infrastructure.
To find out more visit: http://www.oecd.org/daf/inv/investment-policy/clean-energy-infrastructure.htm
Poyry - Europe’s energy future – the shape of the beast - Point of ViewPöyry
Decarbonisation requires large scale investment by European energy companies, but threatens their existing revenue streams. Financial investors are becoming wary of the power sector, and new sources of capital are urgently required. Meanwhile, Europe faces a policy dilemma; whether to rely on markets and a strong CO2 regime, or to build national solutions with government-channelled investment. Whichever way this dilemma is
resolved, the traditional role of the electricity companies must adapt: embracing innovation is the first necessary step to the future world.
From Ugly Duckling to Superstar: how energy efficiency (almost) got to the to...FTI Consulting FR
Energy efficiency has long been promoted at European level. The European Commission has certainly made great efforts to support it and to ensure that energy savings can contribute to the EU’s energy priorities, namely reduction of carbon emissions, lowering of energy costs and increase of energy independence. The EU has introduced energy efficiency targets, created a regulatory framework to support energy efficiency and the uptake of energy efficient products and provided significant funding. However, so far energy efficiency has not lived up to its expectations, which is disappointing considering the huge amount of resources spent to promote it.
In this Energy Flash we look why the EU’s policies have so far have not had the desired effect, what is being done to change this and which sectors are best placed to benefit from the renewed efforts.
Eastern Winds examines the frontier of wind power development in Europe. The report deals with the prospects for wind power in central and eastern Europe, tackles financing and provides an in-depth analysis of 12 emerging wind power markets. Eastern Winds is also a tool for decision-makers highlighting bottlenecks, regulatory challenges and providing policy recommendations. The report features: 1- In depth analysis of central and eastern European markets: first wave (Bulgaria, Romania, Turkey, Hungary, Poland) second wave and future markets covering - Power market overview, wind energy sector, supply chain, legal framework, opportunities and challenges. 2- Analysis of the wind power sector’s growth in the region - high growth in the more mature markets but boom and bust effect - and projections up to 2020. 3- Wind energy financing - Requirements of private banks when financing projects in emerging markets, profiles of International Financial Institutions active in the region and EU funding. 4- Policy recommendations
The global renewable energy market has grown rapidly over the past few years. Driven by improving sector dynamics, renewable energy witnessing emergence of newer investment options in the capital markets segment.
Simon Bawakyillenuo, Institute of Statistical, Social and Economic Research
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
Forum Energii and the Confederation Lewiatan call for the adoption of the "Energy Boost for Poland" package, which aims to mobilise available public and private funds for the Polish energy modernization. The implementation of the "Energy Boost for Poland" will stimulate investments worth over PLN 580 billion, which will create 240 thousand new jobs. Investments in the energy sector should be an element of the strategy for overcoming the crisis caused by the coronavirus pandemic.
Online overcoming barriers to developing and diffusing fuelcell vehiclesAraz Taeihagh
To accelerate the electrification of road transport, numerous countries are promoting the diffusion of both Battery Electric Vehicles (BEVs) and Fuel-Cell Vehicles (FCVs). Both technologies hold unique advantages and disadvantages while also facing common barriers with regard to production and diffusion. Barriers may be classified into four categories: 1) supply-side (i.e. vehicle production), 2) infrastructure preparation (i.e. charging and fuelling), 3) demand-side (i.e. demand creation) and 4) institutional design. Relative to BEV literature, studies on FCV diffusion efforts are fewer. Also, while many studies highlight numerous diffusion barriers, knowledge on actual governance strategies to overcome these is lacking. Filling this gap, we examine governance measures used by government and industry in Japan to accelerate the development and diffusion of FCVs. The above framework is applied to examine coping strategies employed, unresolved challenges and potential ways to overcome these. Data are sourced from document analysis and expert interviews. Findings reveal robust measures to tackle supply-side and infrastructure challenges. Conversely, demand-side measures completely rely on public subsidies and lack regulatory measures to stimulate vehicle demand. Also, institutional strategies to increase the pool of FCV makers are lacking visible outcomes. We thus lay out several policy suggestions to overcome these unresolved challenges.
Neil McCulloch, The Policy Practice
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
Helen Hoka Osiolo, The Kenya Institute for Public Policy Research and Analysis
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
Energy and mobility poverty: Will the Social Climate Fund be enough to delive...Leonardo ENERGY
Prior to the current soaring energy prices across Europe, the European Commission proposed, as part of the FitFor55 climate and energy package, the EU Social Climate Fund to mitigate the expected social impact of extending the EU ETS to transport and heating.
The report presented in this webinar provides an update of the European Energy Poverty Index, published for the first time in 2019, which shows the combined effect of energy and mobility poverty across Member States. Beyond the regular update of the index, the report provides analysis of the existing EU policy framework related to energy and transport poverty. France is used as a case study given the “yellow vest” movement, which was triggered by the proposed carbon tax on fuels.
Watch the recordings of the webinar:
https://youtu.be/i1Jdd3H05t0
See page 10 for Professor Jillian Anable's contribution on low carbon transport and air quality.
www.ukerc.ac.uk/news/ukerc-calls-for-urgent-action-on-uk-energy-during-this-parliament-.html
Copyright UKERC.
Edwin Nateminya, Integral Advisory
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
De-risking Renewable Energy InvestmentsLászló Árvai
With increasing costs of installation in traditional fossil fuels, Renewable Energy resources are becoming more and more competitive and a new era is emerging on the global energy market.
From Ugly Duckling to Superstar: how energy efficiency (almost) got to the to...FTI Consulting FR
Energy efficiency has long been promoted at European level. The European Commission has certainly made great efforts to support it and to ensure that energy savings can contribute to the EU’s energy priorities, namely reduction of carbon emissions, lowering of energy costs and increase of energy independence. The EU has introduced energy efficiency targets, created a regulatory framework to support energy efficiency and the uptake of energy efficient products and provided significant funding. However, so far energy efficiency has not lived up to its expectations, which is disappointing considering the huge amount of resources spent to promote it.
In this Energy Flash we look why the EU’s policies have so far have not had the desired effect, what is being done to change this and which sectors are best placed to benefit from the renewed efforts.
Eastern Winds examines the frontier of wind power development in Europe. The report deals with the prospects for wind power in central and eastern Europe, tackles financing and provides an in-depth analysis of 12 emerging wind power markets. Eastern Winds is also a tool for decision-makers highlighting bottlenecks, regulatory challenges and providing policy recommendations. The report features: 1- In depth analysis of central and eastern European markets: first wave (Bulgaria, Romania, Turkey, Hungary, Poland) second wave and future markets covering - Power market overview, wind energy sector, supply chain, legal framework, opportunities and challenges. 2- Analysis of the wind power sector’s growth in the region - high growth in the more mature markets but boom and bust effect - and projections up to 2020. 3- Wind energy financing - Requirements of private banks when financing projects in emerging markets, profiles of International Financial Institutions active in the region and EU funding. 4- Policy recommendations
The global renewable energy market has grown rapidly over the past few years. Driven by improving sector dynamics, renewable energy witnessing emergence of newer investment options in the capital markets segment.
Simon Bawakyillenuo, Institute of Statistical, Social and Economic Research
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
Forum Energii and the Confederation Lewiatan call for the adoption of the "Energy Boost for Poland" package, which aims to mobilise available public and private funds for the Polish energy modernization. The implementation of the "Energy Boost for Poland" will stimulate investments worth over PLN 580 billion, which will create 240 thousand new jobs. Investments in the energy sector should be an element of the strategy for overcoming the crisis caused by the coronavirus pandemic.
Online overcoming barriers to developing and diffusing fuelcell vehiclesAraz Taeihagh
To accelerate the electrification of road transport, numerous countries are promoting the diffusion of both Battery Electric Vehicles (BEVs) and Fuel-Cell Vehicles (FCVs). Both technologies hold unique advantages and disadvantages while also facing common barriers with regard to production and diffusion. Barriers may be classified into four categories: 1) supply-side (i.e. vehicle production), 2) infrastructure preparation (i.e. charging and fuelling), 3) demand-side (i.e. demand creation) and 4) institutional design. Relative to BEV literature, studies on FCV diffusion efforts are fewer. Also, while many studies highlight numerous diffusion barriers, knowledge on actual governance strategies to overcome these is lacking. Filling this gap, we examine governance measures used by government and industry in Japan to accelerate the development and diffusion of FCVs. The above framework is applied to examine coping strategies employed, unresolved challenges and potential ways to overcome these. Data are sourced from document analysis and expert interviews. Findings reveal robust measures to tackle supply-side and infrastructure challenges. Conversely, demand-side measures completely rely on public subsidies and lack regulatory measures to stimulate vehicle demand. Also, institutional strategies to increase the pool of FCV makers are lacking visible outcomes. We thus lay out several policy suggestions to overcome these unresolved challenges.
Neil McCulloch, The Policy Practice
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
Helen Hoka Osiolo, The Kenya Institute for Public Policy Research and Analysis
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
Energy and mobility poverty: Will the Social Climate Fund be enough to delive...Leonardo ENERGY
Prior to the current soaring energy prices across Europe, the European Commission proposed, as part of the FitFor55 climate and energy package, the EU Social Climate Fund to mitigate the expected social impact of extending the EU ETS to transport and heating.
The report presented in this webinar provides an update of the European Energy Poverty Index, published for the first time in 2019, which shows the combined effect of energy and mobility poverty across Member States. Beyond the regular update of the index, the report provides analysis of the existing EU policy framework related to energy and transport poverty. France is used as a case study given the “yellow vest” movement, which was triggered by the proposed carbon tax on fuels.
Watch the recordings of the webinar:
https://youtu.be/i1Jdd3H05t0
See page 10 for Professor Jillian Anable's contribution on low carbon transport and air quality.
www.ukerc.ac.uk/news/ukerc-calls-for-urgent-action-on-uk-energy-during-this-parliament-.html
Copyright UKERC.
Edwin Nateminya, Integral Advisory
Presentation given at “Unlocking Investment in Africa’s Renewables: What are the Binding Constraints?” event, organised by the Institute of Development Studies and held on 19 January 2017 at the Wellcome Collection, London. For more information, please visit http://www.ids.ac.uk/events/unlocking-investment-in-africa-s-renewables-what-are-the-binding-constraints.
De-risking Renewable Energy InvestmentsLászló Árvai
With increasing costs of installation in traditional fossil fuels, Renewable Energy resources are becoming more and more competitive and a new era is emerging on the global energy market.
Since 2010, the world has added more solar photovoltaic (PV) capacity than in the previous four decades. New systems were installed in 2013 at a rate of 100 megawatts (MW) of capacity per day. Total global capacity overtook 150 gigawatts (GW) in early 2014. The geographical pattern of deployment is rapidly changing. While a few European countries, led by Germany and Italy, initiated large-scale PV development, PV systems are now expanding in other parts of the world, often under sunnier skies. Since 2013, the People’s Republic of China has led the global PV market, followed by Japan and the United States. PV system prices have been divided by three in six years in most markets, while module prices have been divided by five. The cost of electricity from new built systems varies from USD 90 to USD 300/MWh depending on the solar resource; the type, size and cost of systems; maturity of markets and costs of capital. This roadmap envisions PV’s share of global electricity reaching 16% by 2050, a significant increase from the 11% goal in the 2010 roadmap. PV generation would contribute 17% to all clean electricity, and 20% of all renewable electricity. China is expected to continue leading the global market, accounting for about 37% of global capacity by 2050. Achieving this roadmap’s vision of 4 600 GW of installed PV capacity by 2050 would avoid the emission of up to 4 gigatonnes (Gt) of carbon dioxide (CO2) annually. This roadmap assumes that the costs of electricity from PV in different parts of the world will converge as markets develop, with an average cost reduction of 25% by 2020, 45% by 2030, and 65% by 2050, leading to a range of USD 40 to 160/MWh, assuming a cost of capital of 8%. To achieve the vision in this roadmap, the total PV capacity installed each year needs to rise rapidly, from 36 GW in 2013 to 124 GW per year on average, with a peak of 200 GW per year between 2025 and 2040. Including the cost of repowering – the replacement of older installations – annual investment needs to reach an average of about USD 225 billion, more than twice that of 2013.
This application note presents and illustrates key elements associated with the economic analysis of wind energy projects and is aimed at municipalities, cooperatives, investors, and companies that want to install wind parks on their premises.
Over the past decade, wind energy capacity has increased significantly, mainly driven by national support schemes. This enabled technological improvements and cost reductions per unit of installed power. More recently, with the global financial crisis (and the associated tight financing conditions) behind us, appetite for wind investments has increased. According to WindEurope, wind energy investments in Europe increased by 5% in 2016 with respect to 2015 (totaling €27.5bn of new investments in 2016). Wind energy investments accounted for nearly 90% of the new renewable energy finance in 2016, compared to approximately 70% in 2015.
Wind investments can provide an attractive risk/return profile, as well as other potential benefits such as risk diversification and a hedge against rising fuel prices. Currently, revenues from wind projects are usually based on PPA revenues plus subsidies, which tend to be market-based (e.g. a premium over a market price). However, the characteristics of recent wind energy auctions and Power Purchase Agreements (PPA) being closed worldwide show that in some cases wind is already cost-competitive with traditional energy sources.
The viability of wind projects will depend upon a business model based on a stable scheme that enables long-term predictable revenue streams, regardless of whether it is market driven (PPA) or politically driven (FiT). Financing costs are highly dependent upon the stability of the regulatory framework (the more stable, the lower the financing costs) and the risk profile of the investment (financing cost decreases with increasing accuracy in estimates, better risk management, more industry experience, and more standardization).
In all cases, an economic analysis of the investment opportunity is required before undertaking the project. Several financial indicators are useful for assessing the viability of the project, including IRR, NPV, and payback period, among others. Moreover, it is advised that conservative assumptions be used in the financial model and sensitivity analysis be performed to consider the impact of different scenarios on profitability.
Even though a wind energy investment is exposed to different risks (technical, legal, and financial, among others), there are many ways these risks can be reduced throughout the lifetime of the project. For instance, technology risk can be reduced by installing proven wind turbines, relying on warranties, and performing preventive maintenance.
New Investment in Renewables is just $2Bn short of overtaking Investments in Fossil Energy Sources. Read about trends in Renewable Energy Investments in First Issue of Better Energy Market Monitor
Blackrock advises - governments, stakeholders, economists increasingly see higher carbon prices as a cost-effective way to achieve emissions reductions. Just 80 companies are responsible for 50 pc of global emissions by listed companies.
September 2016
A climate investment trap in developing countries: higher cost of capital, investment suitability and path dependency perpetuate inequity in low-carbon finance
Similar to Overcoming barriers to international investment in clean energy (20)
This presentation by Morris Kleiner (University of Minnesota), was made during the discussion “Competition and Regulation in Professions and Occupations” held at the Working Party No. 2 on Competition and Regulation on 10 June 2024. More papers and presentations on the topic can be found out at oe.cd/crps.
This presentation was uploaded with the author’s consent.
This presentation comprises highlights from the publication OECD Competition Trends 2024 published in Paris on 6 March 2024 during the OECD Competition Open Day. The full publication can be accessed at oe.cd/comp-trends.
This presentation by Cristina Camacho, Head of Cabinet and Head of International Relations, Portuguese Competition Authority, was made during the discussion “Use of Economic Evidence in Cartel Cases” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/egci.
This presentation was uploaded with the author’s consent.
This presentation by William E. Kovacic, Global Competition Professor of Law and Policy and Director, Competition Law Center, The George Washington University, was made during the discussion “Ex-post Assessment of Merger Remedies” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/eamr.
This presentation was uploaded with the author’s consent.
This presentation by John E. Kwoka, Neal F. Finnegan Distinguished Professor of Economics, Northeastern University, was made during the discussion “Ex-post Assessment of Merger Remedies” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/eamr.
This presentation was uploaded with the author’s consent.
This presentation by Amelia Fletcher CBE, Professor of Competition Policy, University of East Anglia, was made during the discussion “Ex-post Assessment of Merger Remedies” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/eamr.
This presentation was uploaded with the author’s consent.
This presentation by the OECD Secretariat was made during the discussion “Ex-post Assessment of Merger Remedies” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/eamr.
This presentation was uploaded with the author’s consent.
This presentation by John Davies, Member, UK Competition Appeal Tribunal, was made during the discussion “Use of Economic Evidence in Cartel Cases” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/egci.
This presentation was uploaded with the author’s consent.
This presentation by Simon Roberts, Professor, Centre for Competition, Regulation and Economic Development, University of Johannesburg, was made during the discussion “Use of Economic Evidence in Cartel Cases” held at the 22nd meeting of the OECD Global Forum on Competition on 8 December 2023. More papers and presentations on the topic can be found out at oe.cd/egci.
This presentation was uploaded with the author’s consent.
This presentation by Serbia was made during the discussion “Alternatives to Leniency Programmes” held at the 22nd meeting of the OECD Global Forum on Competition on 7 December 2023. More papers and presentations on the topic can be found out at oe.cd/atlp.
This presentation was uploaded with the author’s consent.
This presentation by Italy was made during the discussion “Alternatives to Leniency Programmes” held at the 22nd meeting of the OECD Global Forum on Competition on 7 December 2023. More papers and presentations on the topic can be found out at oe.cd/atlp.
This presentation was uploaded with the author’s consent.
This presentation by Daniel CRANE, Richard W. Pogue Professor of Law, University of Michigan, was made during the discussion “Out-of-Market Efficiencies in Competition Enforcement” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/omee.
This presentation was uploaded with the author’s consent.
This presentation by John DAVIES, Member, Competition Appeal Tribunal UK, was made during the discussion “Out-of-Market Efficiencies in Competition Enforcement” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/omee.
This presentation was uploaded with the author’s consent.
This presentation by Nancy ROSE, Head of the Department of Economics and Charles P. Kindleberger Professor of Applied Economics, Massachusetts Institute of Technology (MIT), was made during the discussion “Out-of-Market Efficiencies in Competition Enforcement” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/omee.
This presentation was uploaded with the author’s consent.
This presentation by Nicole ROSENBOOM, Principal, Oxera Consulting LLP, was made during the discussion “Out-of-Market Efficiencies in Competition Enforcement” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/omee.
This presentation was uploaded with the author’s consent.
This presentation by Anna TZANAKI, Lecturer in Law, University of Leeds, was made during the discussion “Serial Acquisitions and Industry Roll-ups” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/sair.
This presentation was uploaded with the author’s consent.
This presentation by Sha'ista GOGA, Director, Acacia Economics, was made during the discussion “Serial Acquisitions and Industry Roll-ups” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/sair.
This presentation was uploaded with the author’s consent.
This presentation by Ioannis KOKKORIS, Chair in Competition Law and Economics and Director, Centre for Commercial Law Studies, Queen Mary University of London, was made during the discussion “Serial Acquisitions and Industry Roll-ups” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/sair.
This presentation was uploaded with the author’s consent.
This presentation by the OECD Secretariat was made during the discussion “Serial Acquisitions and Industry Roll-ups” held at the 141st meeting of the OECD Competition Committee on 6 December 2023. More papers and presentations on the topic can be found out at oe.cd/sair.
This presentation was uploaded with the author’s consent.
This presentation by Simonetta VEZZOSO, Associate Professor, Economics Department, University of Trento, was made during the discussion “Competition and Innovation - The Role of Innovation in Enforcement Cases” held at the 141st meeting of the OECD Competition Committee on 5 December 2023. More papers and presentations on the topic can be found out at oe.cd/rbci.
This presentation was uploaded with the author’s consent.
More from OECD Directorate for Financial and Enterprise Affairs (20)
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Many ways to support street children.pptxSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Understanding the Challenges of Street ChildrenSERUDS INDIA
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Overcoming barriers to international investment in clean energy
1. June 2015
Overcoming barriers to international
investment in clean energy
Geraldine Ang
Recognising the role of clean energy in addressing climate change and economic
growth-related objectives1
, policy makers have provided significant policy support
to its deployment over the past decade.2
Globally, renewable-energy subsidies
amounted to USD 121 billion in 2013.3
At least 138 countries had implemented
renewable-energy support policies as of early 2014.4
Until the global financial
crisis, many countries also supported clean energy through trade and investment
liberalisation.
The results were impressive. New investment in
clean energy increased six-fold between 2004
and 2011, reaching USD 279 billion in 2011.5
Solar
and wind energy have received the largest share
of new investment flows – USD 150 billion and
USD 100 billion respectively in 2014 (see figure 1
for 2004-13 flows). International trade and
greenfield FDI have strongly contributed to the growth of the solar- and wind-
energy sectors. As a result, both industries – and especially solar photovoltaic (PV)
energy – have been increasingly relying on Global Value Chains (GVCs).
Figure 1. G20 investment in clean energy by sector, 2004-13 (USD billion)
INVESTMENTInsights
www.oecd.org/daf/investment
Source: The Pew Charitable Trusts (2014), “Who’s Winning the Clean Energy Race? 2013”; Data from Bloomberg
New Energy Finance (BNEF).
This article summarises key
findings from a new OECD
report on Overcoming
Barriers to International
Investment in Clean Energy.
2. 2 OECD 2015 – www.oecd.org/daf/investment
Insights
INVESTMENT
The success of early government support for clean-energy investment owes a lot
to the principle of non-discrimination. Governments generally did not
discriminate between foreign and domestic investors and maintained open
trade regimes for intermediate inputs or finished products.
Government support takes a wrong turn
Governments have increasingly implemented green industrial policies to
protect domestic PV and wind-turbine manufacturers, especially after the
2008 financial crisis, as a means to support domestic growth and employment.
Local-content requirements in particular became particularly prevalent. These
typically require solar or wind developers to source a specific share of jobs,
components or costs locally to be eligible for policy support or public tenders.
Such requirements have been designed or implemented in solar and wind
energy in at least 21 countries, including 16 OECD countries and emerging
economies, mostly since 2009. Governments have set such requirements to
achieve policy goals such as supporting domestic industries, creating local jobs
and promoting exports and technology transfer.
In addition to setting LCRs, governments have also pursued such objectives
through: granting preferential access to financing; improving export
performance of PV and wind turbines through targeted measures; and setting
technical barriers.6
The use of LCRs has led to five disputes at the WTO since 2010. Other policy-
related distortions have given rise to a proliferation in trade disputes and
retaliatory trade remedies7
– mostly by developed countries, but increasingly
from emerging economies.
Applied import tariffs and de jure, regulatory restrictions on FDI, such as limits
on foreign ownership, remain relatively low in solar PV and wind energy.
What has been the impact of local-content (LCRs) requirements
on investment in clean energy?
The report on Overcoming Barriers to International Investment in Clean Energy
provides empirical evidences on the impact of LCRs on clean-energy investment,
drawing on a new econometric analysis. While feed-in tariff (FiT) policies help
attract international investment, LCRs in solar PV and wind energy mitigate the
effectiveness of FiTs and have a detrimental effect on international investment
flows.8
This effect is measured based on cross-border investment flows in solar-
PV and wind power generation between 2000 and 2011.9
The estimated
detrimental effect of LCRs is even slightly stronger when considering total
investments (both international and domestic). This finding suggests that the
3. OECD 2015 – www.oecd.org/daf/investment 3
Insights
INVESTMENT
negative effect on international investment flows is not compensated by any
positive impacts on domestic investment.
In addition, according to results from a new 2014 OECD Investor Survey,
LCRs stood out as the main policy impediment for international investors in
solar-PV and wind energy (table 2).
Table 1. Percentage of international investors from different segments of the solar and wind-
energy value chains who identified LCRs as an impediment in the 2014 OECD Investor Survey
Several recent country experiences with LCRs in solar and wind energy suggest
that:
LCRs can raise the costs of downstream activities in the value chain,
such as clean energy-based electricity generation, because they
mandate the use of higher-cost domestic inputs.
LCRs may not have been effective in several countries in generating
domestic employment and added value across the solar and wind-
energy value chains . This is particularly true in countries without
sufficient domestic market size, manufacturing capability or local
technical expertise.
Removing LCRs helps support technology transfer and innovation.
Why can the clean-energy success story turn sour due to local-
content requirements?
International investment accounts for an important share of clean-energy
investment. Between 2004 and the first half of 2012, international investment
has represented about one-third of asset finance10
investment of utility-scale
clean energy projects (figure 2).
Source: OECD 2014 Investor Survey on “Achieving a Level Playing Field for International Investment in Clean Energy”; Based on a
sample of 42 international investor respondents. The results include responses from 8 international investors who operate across
upstream, midstream and downstream segments.
Solar PV energy Wind energy
Upstream and midstream Downstream Upstream or midstream Downstream
75% 73% 70% 72%
4. 4 OECD 2015 – www.oecd.org/daf/investment
Insights
INVESTMENT
Figure 2. Global asset finance investment in green energy by origin of investor
2004 – first half of 2012 (USD billion)
The solar PV and wind energy sectors in particular are increasingly global;
Domestic solar-PV and wind-power generation relies on an increasing share of
imported intermediate inputs, especially in the PV sector. This is consistent with
a broader trend in which the emergence of global value chains has led to a
growing specialisation in specific activities and segments of value chains. More
than 70% of global trade is in intermediate goods and services and in capital
goods.11
As a result, policy restrictions such as LCRs can hinder the profitability
of downstream power producers by raising the cost of inputs, or reducing
overall demand as costs are passed through to consumers.
Figure 3. Overview of the solar-PV energy value chain (Crystalline silicon technology)
Source: BNEF, 2013.
Source: OECD 2015, Overcoming Barriers to International Investment in Clean Energy, OECD Publishing, Paris.
http://doi.org/10.1787/9789264227064-en.
5. OECD 2015 – www.oecd.org/daf/investment 5
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INVESTMENT
Considering the solar PV and wind-energy value chains also highlights the
relative importance of downstream activities in terms of value added, local jobs
and investment. In the solar PV sector in particular, manufacturing activities
represent only 18-24% of total jobs, as per recent estimates in the United States
and worldwide. At least 50% of solar-PV jobs and value added are located in
downstream activities. As a result, the desired positive impact of LCRs on local
job creation and value added in midstream industries tends to be undermined
by indirect negative effects on employment and value addition in downstream
segments of the value chains. In addition, investment in downstream activities
and infrastructure assets represents the bulk of total clean-energy investment.
Globally, manufacturing equipment represented only 6% of new investment in
renewable energy in 2013.12
Measures targeting the manufacturing sector, such
as LCRs, reduce total investment across the domestic solar PV and wind energy
value chains by increasing input costs for downstream segments.
Figure 4. More than half of generated value lies downstream of module production
With the rise of global value chains in the solar-PV and wind-energy sectors,
segments of value chains that account for a small share of value added (such as
manufacturing) tend to be concentrated in a smaller number of countries. As
such, national policies that restrict trade and investment in these segments,
such as LCRs, can have disproportionately large cross-border effects.13
Sources: Natural Resources Defence Council (NRDC) (2012), Laying the Foundation for a Bright Future: Assessing Progress
Under Phase 1 of India’s National Solar Mission, Interim Report, April 2012; quoting GTM Research, 2011; European
Photovoltaic Industry Association (EPIA) and Greenpeace, 2006, 2011; Rutovitz and Atherton, 2009; The Solar Foundation,
2011; Based on unsubsidised value chain analysis of U.S. silicon PV market. The results find roughly similar value distribution
for thin-film technologies.
6. 6 OECD 2015 – www.oecd.org/daf/investment
Insights
INVESTMENT
Policy conclusions
Early government support for investment in clean energy produced rapid
results, and did not differentiate between domestic and foreign investment.
Evidence suggests, however, that the use of LCRs creates distortions that have
been detrimental to the solar-PV and wind-energy sectors.
Governments clearly should consider alternatives to LCRs to support their
domestic solar-PV and wind-power industries. Policy options that would not
restrict international trade and investment include:
Well-targeted support to research and development (R&D) and
innovation in solar and wind-power technologies
Training programmes and promotion measures to build technological
skills and local capability.
Well-designed and predictable incentive measures (such as feed-in
tariffs with no LCRs attached to them); and
More effective carbon pricing instruments (such as carbon taxes and
tradable permits).
Creating a stable and predictable policy environment for both domestic and
international investment in clean-energy generation is critical, as emphasised in
the OECD Policy Guidance for Investment in Clean Energy Infrastructure.14
Supporting open, competitive and demand-driven solar-PV and wind-energy
sectors would help sustain the trend towards cost reductions and make
renewable energy more competitive vis-à-vis fossil-fuel energy. This, in turn,
would reduce the cost of policy support to clean energy. Evidence-based
analysis is needed to improve the coherence of clean-energy support policies
and reduce their cost. International co-operation is also needed to align trade
and investment policy in clean energy, including to responding to the escalation
of local-content requirements.
The time is right for governments to address policy misalignments across the
clean-energy value chains, and to ensure their climate change, energy, trade
and investment policy are consistent and coherent, in order to support the
cost-effective transition to a low-carbon economy.
For more information about the OECD report Overcoming Barriers to
International Investment in Clean Energy, please visit:
www.oecd.org/daf/inv/investment-policy/clean-energy-infrastructure.htm