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Financing The Solar Energy Market Through The Use Of Securitization – The Case Of The United States

Author

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  • Maciej Pawłowski

    (The University of Szczecin, Poland)

Abstract

This article corresponds with the research on the implementation of general sustainable development ideas. Moreover, it addresses the issue of using securitization in financing the solar energy market in the U.S. The aim of the research is to identify the essential characteristics of lease securitization of photovoltaic installations, as well as illustrate the current market development of these instruments. The paper discusses theoretical framework of securitization, identifies essential characteristics of the photovoltaic installation market in the context of its potential regarding the use of the securitization process, and presents the state of the securitization market in the discussed area. The characteristics presented in the article are based on the examples of the United States economy – the birthplace of lease securitization of photovoltaic installations, as well as the only state, where the analysed instrument finds practical application, so far.

Suggested Citation

  • Maciej Pawłowski, 2018. "Financing The Solar Energy Market Through The Use Of Securitization – The Case Of The United States," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 7(2), pages 63-76.
    • Handle: RePEc:cpn:umkcjf:v:7:y:2018:i:2:p:63-76
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    File URL: https://apcz.umk.pl/CJFA/article/view/CJFA.2018.009/16305
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    References listed on IDEAS

    as
    1. Bonnie G. Buchanan, 2017. "Securitization and the Global Economy," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-137-34287-4, June.
    2. Solomon Y Deku & Alper Kara, 2017. "Securitization: Past, Present and Future," Palgrave Macmillan Studies in Banking and Financial Institutions, Palgrave Macmillan, number 978-3-319-60128-1.
    3. Teodora Paligorova, 2009. "Agency Conflicts in the Process of Securitization," Bank of Canada Review, Bank of Canada, vol. 2009(Autumn), pages 36-50.
    4. Hans J. Blommestein & Ahmet Keskinler & Carrick Lucas, 2011. "Outlook for the Securitisation Market," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2011(1), pages 259-276.
    5. Alafita, T. & Pearce, J.M., 2014. "Securitization of residential solar photovoltaic assets: Costs, risks and uncertainty," Energy Policy, Elsevier, vol. 67(C), pages 488-498.
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