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Crowdfunding: Ready for the Big League?

In: RENEWABLE ENERGY FINANCE Funding the Future of Energy

Author

Listed:
  • Sam Friggens
  • Karl Harder

Abstract

In 2012 when a wind turbine started spinning in the historic village of St. Briavels on the border of England and Wales, it was more than just another small step toward a clean energy system in the UK. The turbine lays claim to be the first renewable energy project in the world to be financed through crowdfunding — the 21st century phenomenon that involves large numbers of individuals coming together via the internet to directly raise money for projects or ventures of their choosing. A total of £1.4 m was collectively invested by hundreds of people who now stand to receive annual financial returns of 6–8% over a period of 20 years as electricity is generated. The achievement signified the evolution of crowdfunding from a niche based on donations and rewards to an investment mechanism capable of delivering new sources of private finance to fund the energy infrastructure of the 21st century…

Suggested Citation

  • Sam Friggens & Karl Harder, 2020. "Crowdfunding: Ready for the Big League?," World Scientific Book Chapters, in: Charles W Donovan (ed.), RENEWABLE ENERGY FINANCE Funding the Future of Energy, chapter 14, pages 321-337, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781786348609_0014
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    More about this item

    Keywords

    Renewable Energy; Renewable Energy Finance; Clean Energy Finance; Green Investments;
    All these keywords.

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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