The role of sources of finance on the development of wind technology

Corsatea, Teodora Diana; Giaccaria, Sergio; Lacal‐Arántegui, Roberto

doi:10.1016/j.renene.2013.11.063

Cited by 39 publications

(24 citation statements)

References 30 publications

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“…Policies are outcomes of interactions between government and various interest groups or actors within a society and play an important role in providing a collective strategic direction (roadmap) in promoting social change. In this context, policies make contributions to creating and supporting room for niches and experiments (such as development of infrastructure and provision of locations for experimentation-enabled innovation) [3,[45][46][47], increasing the attractiveness of the renewables market [48], attracting the private sector to invest in renewable energy by increasing risk-sharing by the government and changing the concerns and uncertainties of the risk-return relationship in the field [49,50] and promoting the collective entrepreneurial efforts of those innovative stakeholders in a society who are unable to exploit their full innovation potential without public intervention [51,52]. This enhances the shared 'problem frame,' defined as problem-solving activities [6] in social learning-the integration of knowledge, values and interests from multiple actors that enables joint or collective action to address the challenges involved [53,54], such as the depletion of fossil fuels, the risks of nuclear power and climate change and enabling the transition to a low-carbon, sustainable and renewable-energy economy.…”

Section: Narrow Renewable Energymentioning

confidence: 99%

Who Drives the Transition to a Renewable-Energy Economy? Multi-Actor Perspective on Social Innovation

Sung

Park

2018

Sustainability

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This study examines how various actors influence the transition to a renewable-energy economy. We employ a conceptual framework derived from a literature review and text-mining analysis and establish a panel data model for an empirical test using unbalanced panel data from 25 member countries of the Organization for Economic Co-operation and Development (OECD), for the period from 1990 to 2014. We establish a panel vector autoregressive (VAR) model in the first differences and use a bias-corrected least squares dummy variable (LSDVC) estimator to test complex dynamic relationships between government, the public, markets, the traditional energy sector (i.e., the sector that uses nuclear power, oil, coal and natural gas as sources for electricity) and the contribution of renewables to the total energy supply. We also perform Wald tests on the coefficients of variables estimated by LSDVC estimator to determine causal relationships between the variables. The results of this study reveal that government and markets directly promote the transition to renewable energy, whereas the traditional energy sector negatively and directly affects the transition. By contrast, the public does not directly influence the transition to a renewable-energy economy. This study also shows that the government and public have positive indirect effects on the transition, by interacting with the market. We also find convincing evidence of significant dynamic-path dependence in all estimations. Finally, we discuss some implications based on the findings of this study.

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Section: Narrow Renewable Energymentioning

confidence: 99%

Who Drives the Transition to a Renewable-Energy Economy? Multi-Actor Perspective on Social Innovation

Sung

Park

2018

Sustainability

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“…However, long-term relationship with a bank can reduce the need for collaterals [44]: the probability of collateral being pledged decreases from 53 to 37 percent every 10 years of a bank-borrower relationship. This function of long-term relationship has also described in wind technology development study [45]. Although this study didn't test the relationship between long-term relationship and transaction cost because of the difficulty of collecting data related with long-term relationship, it is believed that the function of long-term relationship is significant in the supply chain.…”

Section: Trust and Transaction Costmentioning

confidence: 91%

Influence of Trust on Biomass Supply Decision-Making in China

Wang

Watanabe

2017

Energies

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Given the abundant straw resources in Northeast China and the huge external costs associated with fossil fuels, straw-based biomass power plants have emerged as a popular alternative to coal-fired power plants. The sustainability of these green alternatives depends on straw supply from farmers, yet little is known about their perceptions regarding such supply because of a lack of cooperation in the supply chain. To better understand farmers' opinions on supplying straw, this study examined their trust in middlemen, perceptions regarding risk in straw supply, the possibility of reducing transaction costs, and their willingness to supply straw. Data were collected from 275 farmers in the national bioenergy industry area in Wangkui County, Northeast China. We investigated the theoretical and empirical connections between trust and risk perception, trust and the possibility of reducing transaction costs, and trust and willingness to supply straw. The results indicated that education, income, and trust factors explained farmers' risk perceptions, the possibility that they will reduce transaction costs, and their willingness to supply straw. On the basis of the analysis, a model of the influence of trust on straw supply was established. The overall findings indicated that biomass power plants and middlemen must build trusting relationships with farmers to ensure sustainable biomass supply.

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“…Innovative stakeholders, including firms, are unable to exploit their full innovation potential without public intervention and tend to pursue short-term strategies, which is especially relevant for immature technologies such as RE technologies [49]. Hence, when public policy cannot consistently provide incentives and create favorable conditions for innovation, this increases the risk perception of the market potential of the technology and decreases the probability that RE technology manufacturers can access the funds necessary to finance their investments [50]. This fact suggests that inefficiency in public policy may change the risk-return relationship in the RE technology investment sector, consequently affecting investors' behaviors [51].…”

Section: Theoretical Background and Research Methodologymentioning

confidence: 99%

Eco-Efficiency of Government Policy and Exports in the Bioenergy Technology Market

2017

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This study investigates how the eco-efficiency of government policy-continuously implementing innovation-friendly policy based on both environmental and economic considerations-affects the export performance of bioenergy technologies, using panel data from 16 countries during 1995-2012. Various heterogeneous panel framework tests are conducted. Our panel unit root and co-integration tests, which allow for cross-sectional dependence in the panel, show that the time series data on the eco-efficiency of public support, exports, and gross domestic product (GDP) are integrated and co-integrated. We set up a panel vector error correction model (VECM) to empirically test the casual relationship among the variables examined. The long-term parameters of the variables were calculated using dynamic ordinary lease squares (DOLS). Panel difference generalized method of moments (GMM) estimations were conducted to test the short-term relationship among the variables. The results of this study therefore show that the eco-efficiency of government policy positively influences export performance in the long run, but not in the short run. The presented findings also indicate that efficiently implemented government policy plays a crucial role in achieving environmentally sound and sustainable development, showing path dependence among the eco-efficiency of government policy, exports, and GDP. We finally suggest policy implications based on the results.

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The role of sources of finance on the development of wind technology

Cited by 39 publications

References 30 publications

Who Drives the Transition to a Renewable-Energy Economy? Multi-Actor Perspective on Social Innovation

Who Drives the Transition to a Renewable-Energy Economy? Multi-Actor Perspective on Social Innovation

Influence of Trust on Biomass Supply Decision-Making in China

Eco-Efficiency of Government Policy and Exports in the Bioenergy Technology Market

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