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Did the financial crisis lead to changes in private equity investor preferences regarding renewable energy and climate policies?

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  • Hofman, Daan M.
  • Huisman, Ronald

Abstract

Bürer and Wüstenhagen (2009) examined the preferences of 60 clean-tech venture capital and private equity investors regarding renewable energy and climate policies in 2007. This paper presents the results of a research project that examined whether these investor preferences changed due to the financial crisis. We re-conducted that part of Bürer and Wüstenhagen (2009) survey that focuses on the preferences for 12 market-pull policies. Comparing our results with those from 2007, we found that the popularity of 11 out of 12 policies decreased. The decrease was significant for those policies that involve subsidies and trade related schemes such as CO2 emissions and green certificates trading. The decrease in the popularity of the policies was mainly the result of changes in the preferences of European investors, whereas the preferences of North American investors did not change noteworthy.

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  • Hofman, Daan M. & Huisman, Ronald, 2012. "Did the financial crisis lead to changes in private equity investor preferences regarding renewable energy and climate policies?," Energy Policy, Elsevier, vol. 47(C), pages 111-116.
    • Handle: RePEc:eee:enepol:v:47:y:2012:i:c:p:111-116
    DOI: 10.1016/j.enpol.2012.04.029
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    References listed on IDEAS

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    1. Philippe Menanteau & Dominique Finon & Marie-Laure Lamy, 2003. "Prices versus quantities :environmental policies for promoting the development of renewable energy," Post-Print halshs-00480457, HAL.
    2. Menanteau, Philippe & Finon, Dominique & Lamy, Marie-Laure, 2003. "Prices versus quantities: choosing policies for promoting the development of renewable energy," Energy Policy, Elsevier, vol. 31(8), pages 799-812, June.
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    Cited by:

    1. Heshmati, Almas & Abolhosseini, Shahrouz, 2014. "Market Design for Trading Commoditized Renewable Energy," Working Paper Series in Economics and Institutions of Innovation 372, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    2. Ronald Huisman & Victoria Stradnic & Sjur Westgaard, 2013. "Renewable energy and electricity prices: indirect empirical evidence from hydro power," Working Papers 2013/24, Institut d'Economia de Barcelona (IEB).
    3. Ronald Huisman & Victoria Stradnic & Sjur Westgaard, 2013. "Renewable energy and electricity prices: indirect empirical evidence from hydro power," Working Papers 2013/24, Institut d'Economia de Barcelona (IEB).
    4. Christopher Ball & Markus Kittler, 2019. "Removing environmental market failure through support mechanisms: insights from green start-ups in the British, French and German energy sectors," Small Business Economics, Springer, vol. 52(4), pages 831-844, April.
    5. Bergen, Matías & Muñoz, Francisco D., 2018. "Quantifying the effects of uncertain climate and environmental policies on investments and carbon emissions: A case study of Chile," Energy Economics, Elsevier, vol. 75(C), pages 261-273.
    6. Kassouri, Yacouba & Kacou, Kacou Yves Thierry & Alola, Andrew Adewale, 2021. "Are oil-clean energy and high technology stock prices in the same straits? Bubbles speculation and time-varying perspectives," Energy, Elsevier, vol. 232(C).
    7. Inchauspe, Julian & Ripple, Ronald D. & Trück, Stefan, 2015. "The dynamics of returns on renewable energy companies: A state-space approach," Energy Economics, Elsevier, vol. 48(C), pages 325-335.
    8. Chen Zhang & Xinghua Dang & Tao Peng & Chaokai Xue, 2019. "Dynamic Evolution of Venture Capital Network in Clean Energy Industries Based on STERGM," Sustainability, MDPI, vol. 11(22), pages 1-25, November.
    9. Liu, Hongtao & Polenske, Karen R. & Guilhoto, Joaquim José Martins & Xi, Youmin, 2014. "Direct and indirect energy use in China and the United States," Energy, Elsevier, vol. 71(C), pages 414-420.
    10. Bobinaite, Viktorija & Tarvydas, Dalius, 2014. "Financing instruments and channels for the increasing production and consumption of renewable energy: Lithuanian case," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 259-276.
    11. Li, Zheng Zheng & Su, Chi-Wei & Moldovan, Nicoleta-Claudia & Umar, Muhammad, 2023. "Energy consumption within policy uncertainty: Considering the climate and economic factors," Renewable Energy, Elsevier, vol. 208(C), pages 567-576.

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