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Financing energy innovation: The role of financing constraints for directed technical change from fossil-fuel to renewable innovation

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  • Noailly, Joëlle
  • Smeets, Roger

Abstract

Addressing both the challenge of climate change and the world's growing energy needs will only be possible by achieving a breakthrough in clean technologies in order to deliver safe, clean and sustainable energy for future generations. Such a large-scale technological transition will require massive investments in research and development (R&D) of clean energy production. Within the sector of electricity generation, renewable (REN) energy technologies, such as solar, wind or geothermal energy, can provide a clean alternative to electricity produced from carbon-intensive fossil-fuels (FF). Nonetheless, private firms' investments in advancing innovation for renewable energy technologies face important challenges. [...]

Suggested Citation

  • Noailly, Joëlle & Smeets, Roger, 2016. "Financing energy innovation: The role of financing constraints for directed technical change from fossil-fuel to renewable innovation," EIB Working Papers 2016/06, European Investment Bank (EIB).
    • Handle: RePEc:zbw:eibwps:201606
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    References listed on IDEAS

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    1. Yu, Chin-Hsien & Wu, Xiuqin & Zhang, Dayong & Chen, Shi & Zhao, Jinsong, 2021. "Demand for green finance: Resolving financing constraints on green innovation in China," Energy Policy, Elsevier, vol. 153(C).
    2. Hui Deng & Chuang Li & Liping Wang, 2022. "The Impact of Corporate Innovation on Environmental Performance: The Moderating Effect of Financing Constraints and Government Subsidies," Sustainability, MDPI, vol. 14(18), pages 1-18, September.
    3. Horbach, Jens & Rammer, Christian, 2017. "Energy transition in Germany and regional spillovers: What triggers the diffusion of renewable energy in firms?," ZEW Discussion Papers 17-044, ZEW - Leibniz Centre for European Economic Research.
    4. Horbach, Jens & Rammer, Christian, 2018. "Energy transition in Germany and regional spill-overs: The diffusion of renewable energy in firms," Energy Policy, Elsevier, vol. 121(C), pages 404-414.
    5. Yuan, Gecheng & Ye, Qin & Sun, Yongping, 2021. "Financial innovation, information screening and industries’ green innovation — Industry-level evidence from the OECD," Technological Forecasting and Social Change, Elsevier, vol. 171(C).
    6. Mare Sarr & Joëlle Noailly, 2017. "Innovation, Diffusion, Growth and the Environment: Taking Stock and Charting New Directions," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 66(3), pages 393-407, March.

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