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Socio-economic Efficiency of the Leasing in Renewable Energy

Author

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  • Viktor Gazman

    (National Research University Higher School of Economics, Moscow, Russia)

Abstract

Economic, technological, ecological changes significantly adjust structure of power. Based on a regression analysis on 215 projects, solar and wind energy is defined of density of the relationship between factors influencing the investment (construction time and power stations, the number of households, that received electricity, emission of carbon gas power plants location on land, offshore). As a result of the determined significance per kilowatt capacity input; reduction of gas emissions per kilowatt; decrease due to the investments of the emission of one ton of CO2. Based on a comparison of actual data refuted the prevailing stereotype and proved that the subsidies per ton of oil equivalent consumption of fossil energy sources exceed renew able energy grant. Leasing, being one of the most complex financial instruments, successfully established itself in many sectors of the economy. The article presents a new methodology for determining the socio-economic efficiency of leasing in renewable energy. Leasing renewable energy statistics is generated in Europe and the calculations saved lives, spending on health and the environment related to the replacement of fossil energy with renewable sources and emissions into the atmosphere harmful substances. Used in article database includes data on renewable energy projects; analytical and statistical reports BP Statistical Review of World Energy; Renewables Global Status Report (REN21); Bloomberg New Energy Finance – New Energy Outlook; World Leasing Yearbook; Leaseurope Annual Reports; International Energy Agency; the results of the authors' surveys of the leasing market in Russia.

Suggested Citation

  • Viktor Gazman, 2019. "Socio-economic Efficiency of the Leasing in Renewable Energy," HSE Economic Journal, National Research University Higher School of Economics, vol. 23(2), pages 238-263.
  • Handle: RePEc:hig:ecohse:2019:2:2
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    More about this item

    Keywords

    renewable and fossil energy sources; subsidies; investment; power; energy; CO2; saved life unaccounted expenditures on health; environmental damage; leveraged-leasing; syndicated loans; sale-leaseback; project financing; social-economic benefits of leasing;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q35 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Hydrocarbon Resources
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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