Sustainable Business Institute SBI

Oestrich-Winkel, Germany

Sustainable Business Institute SBI

Oestrich-Winkel, Germany
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Polzin F.,Strascheg Institute for Innovation and Entrepreneurship SIIE | Polzin F.,Sustainable Business Institute SBI | Migendt M.,Strascheg Institute for Innovation and Entrepreneurship SIIE | Taube F.A.,Solvay Group | von Flotow P.,Sustainable Business Institute SBI
Energy Policy | Year: 2015

This paper examines the impact of public policy measures on renewable energy (RE) investments in electricity-generating capacity made by institutional investors. Using a novel combination of datasets and a longitudinal research design, we investigate the influence of different policy measures in a sample of OECD countries to suggest an effective policy mix which could tackle failures in the market for clean energy. The results call for technology-specific policies which take into account actual market conditions and technology maturity. To improve the conditions for institutional investments, advisable policy instruments include economic and fiscal incentives such as feed-in tariffs (FIT), especially for less mature technologies. Additionally, market-based instruments such as greenhouse gas (GHG) emission trading systems for mature technologies should be included. These policy measures directly impact the risk and return structure of RE projects. Supplementing these with regulatory measures such as codes and standards (e.g. RPS) and long-term strategic planning could further strengthen the context for RE investments. © 2015 Elsevier Ltd.

Eisenbach S.,TU Darmstadt | Schiereck D.,TU Darmstadt | Trillig J.,TU Darmstadt | von Flotow P.,Sustainable Business Institute SBI
Business Strategy and the Environment | Year: 2014

Recent trends in the project finance industry include an increasing volume and a growing awareness of sustainable development. This has raised the question of whether and a how voluntary code of conduct such as the Equator Principles (EP) could enhance its impact on the project finance industry. We apply an event study methodology, and also consider the market model and conditional variance. We find positive abnormal returns for financial institutions adopting the EP, which supports the reputational risk hypothesis. Furthermore, we document that adopters outperform the global project finance market, especially in terms of market share. However, we do not find evidence that non-adopters are excluded from lending syndicates. Results include practical recommendations for environmental policy. © 2013 John Wiley & Sons, Ltd and ERP Environment.

Polzin F.,University Utrecht | Polzin F.,Sustainable Business Institute SBI | von Flotow P.,Sustainable Business Institute SBI | Nolden C.,University of Sussex
Energy Policy | Year: 2016

Municipalities aiming at mitigating climate change by implementing new energy efficiency technologies face budgetary and capacity constraints. Outsourcing through energy service contracting could provide a solution. This paper reports results from a survey of 1298 municipalities concerning barriers to retrofitting public street lighting and the possible role of energy service contracting to overcome these barriers. Using a logistic regression analysis, the authors investigate determinants of opting for energy service contracts in the specific context of LED retrofits. Results point to an advantage of outsourcing in a financially and capacity-constrained environment, which corresponds with the main reasons for engaging in contracting: minimising investments and financial risks. However, municipalities often do not fully grasp the risks associated with retrofitting especially using a novel technology such as LED. In relation to that they underestimate the risk reduction potential of energy performance contracts (EPC). Previous experience with outsourcing increases the probability to engage in servitization although certain existing partnerships, particularly with utilities, prevent municipalities from considering energy performance contracts. Interestingly, engaging an energy consultant has a negative propensity to use energy service contracts, while pre-negotiated standardised contracts for energy performance contracts have a positive influence. © 2016 The Authors.

Friebe C.A.,EBS University for business and law | Friebe C.A.,Sustainable Business Institute SBI | Von Flotow P.,Sustainable Business Institute SBI | Taube F.A.,EBS University for business and law
Energy Policy | Year: 2014

This study challenges the implicit assumption of homogeneity in national institutional contexts made in past studies of (renewable) energy policy. We propose that institutional differences matter by focusing on several technology-specific and generic policy factors that can foster technology diffusion through private sector activity. More specifically, we explore perceptions of early adopters in emerging economy contexts using wind park project developers as an example. By applying a parsimonious method for our questionnaire as well as qualitative data we make several contributions: Methodologically, we introduce Maximum Difference Scaling to the energy policy domain. Empirically, we identify several public influences on private investment, and assess their relative importance. This leads to new insights challenging findings from industrialized economies; we identified additional institutional barriers to diffusion, hence, the requirement of a combination of technology-specific and generic policy measures. © 2014 Elsevier Ltd.

Friebe C.A.,EBS University for business and law | Friebe C.A.,Sustainable Business Institute SBI | Flotow P.,Sustainable Business Institute SBI | Taube F.A.,EBS University for business and law
Energy Policy | Year: 2013

One of the key challenges of energy access in emerging markets and developing countries is how to reach households and communities that are unlikely to get a grid connection in the long term or those that are connected to the grid but suffer from regular blackouts or low voltage. By surveying entrepreneurs selling Solar Home Systems (SHSs) on a commercial basis in emerging and developing countries, this study is one of the first attempts to quantify the key elements of four potential Product Service Systems (PSSs): Cash, Credit, Leasing and Fee-for-Service. Whereas the Fee-for-Service approach was found to be suitable only under certain conditions, all PSSs share two key elements for successful market deployment: one or more years of maintenance, and customer support in financing these customers' new asset. Moreover, it appears that private sector companies are in principle able to deliver SHSs to households with incomes greater than USD 1000 per year. The implications for policy makers and development aid agencies are, first, to include maintenance services into public programmes or public-private partnerships and, second, to explicitly consider financial risks for entrepreneurs (e.g., customer commitment and repayment conditions). © 2012 Elsevier Ltd.

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