Public policy and financial resource mobilization for wind energy in developing countries: A comparison of approaches and outcomes in China and India

Global Environmental Change

Volumn 35, Issue , 2015, Pages 340-359

  Surana, Kavita ^a   Anadon, Laura Diaz ^a,b  

^a HARVARD UNIVERSITY   (United States)

^b UNIVERSITY COLLEGE LONDON   (United Kingdom)

Author keywords

Developing countries; Investment; Renewable energy; Resource mobilization; Technological innovation system; Wind power

Indexed keywords

COMPARATIVE STUDY; COMPETITIVENESS; DEVELOPING WORLD; DEVELOPMENT STRATEGY; FINANCIAL PROVISION; INDUSTRIAL STRUCTURE; INNOVATION; INVESTMENT; OWNERSHIP; POLICY APPROACH; PRIVATE SECTOR; RENEWABLE RESOURCE; RESOURCE AVAILABILITY; RETURN PERIOD; SPATIOTEMPORAL ANALYSIS; STATE OWNED ENTERPRISE; TECHNOLOGY DIFFUSION; WIND POWER;

CHINA; INDIA;

EID: 84945314101     PISSN: 09593780     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.gloenvcha.2015.10.001     Document Type: Article

References (78)

1. Bardhan P.K. Awakening Giants, Feet of Clay 2010, Princeton University Press.
2. Batlle C., Pérez-Arriaga I.J., Zambrano-Barragán P. Regulatory design for RES-E support mechanisms: learning curves, market structure, and burden-sharing. Energy Policy 2012, 41:212-220.
3. Bergek A., Jacobsson S., Carlsson B., Lindmark S., Rickne A. Analyzing the functional dynamics of technological innovation systems: a scheme of analysis. Res. Policy 2008, 37:407-429. 10.1016/j.respol.2007.12.003.
4. Bergek A., Mignon I., Sundberg G. Who invests in renewable electricity production? Empirical evidence and suggestions for further research. Energy Policy 2013, 1-14. 10.1016/j.enpol.2013.01.038.
5. Bhattacharyya S.C. Financing energy access and off-grid electrification: a review of status, options and challenges. Renew. Sustain. Energy Rev. 2013, 20:462-472. 10.1016/j.rser.2012.12.008.
6. Binz C., Truffer B., Coenen L. Why space matters in technological innovation systems-Mapping global knowledge dynamics of membrane bioreactor technology. Res. Policy 2014, 43:138-155. 10.1016/j.respol.2013.07.002.
7. Blum N.U., Bening C.R., Schmidt T.S. An analysis of remote electric mini-grids in Laos using the technological innovation systems approach. Technol. Forecast. Soc. Change 2015, 10.1016/j.techfore.2015.02.002.
8. 2 Emissions. Carbon Dioxide Information Analysis Center 2013, Oak Ridge National Laboratory, U.S. Department of Energy, Oak Ridge, Tenn., U.S.A. 10.3334/CDIAC/00001_V2013.
9. BTM Consult, 2013. World Marktet Update 2012-International Wind Energy Development. Navigant Research.
10. CECL Indian Wind Power Directory 2013, Consolidated Energy Consultants Limited.
11. CECL Assessment of Investment Climate for Wind Power Development in India for Indian Renewable Energy Development Agency (IREDA)-New Delhi 2011, Consolidated Energy Consultants Limited.
12. CECL Indian Wind Power Directory 2006, Consolidated Energy Consultants Limited.
13. Chan G., Huenteler J. Financing wind energy deployment in China through the Clean Development Mechanism: Additionality and incentives for technological change. Essays on Energy Technology Innovation Policy, Ph.D. Dissertation 2015, Harvard Kennedy School. G. Chan (Ed.).
14. Coenen L., Benneworth P., Truffer B. Toward a spatial perspective on sustainability transitions. Res. Policy, Special Sec. Sustain. Trans. 2012, 41:968-979. 10.1016/j.respol.2012.02.014.
15. Dahlman C. Technology, globalization, and international competitiveness: Challenges for developing countries. Industrial Development for the 21st Century 2007, Sustainable Development Perspectives, p. 29.
16. Dai Y., Xue L. China's policy initiatives for the development of wind energy technology. Clim. Policy 2014, 0:1-28. 10.1080/14693062.2014.863549.
17. EIA International Energy Statistics 2014, US Energy Information Administration (EIA), Washington, DC. http://www.eia.gov/.
18. EPI Earth Policy Institute [WWW Document] 2014, Earth Policy Institute-Data Center. http://www.earth-policy.org/.
19. Farla J., Markard J., Raven R., Coenen L. Sustainability transitions in the making: A closer look at actors, strategies and resources. Technological forecasting and social change, contains special section: actors. Strat. Resour. Sustain. Transit. 2012, 79:991-998. 10.1016/j.techfore.2012.02.001.
20. Frankfurt School-UNEP Centre/BNEF Global Trends in Renewable Energy Investment 2014 2014, Frankfurt am Main.
21. Friebe C.A., von Flotow P., Täube F.A. Exploring technology diffusion in emerging markets-the role of public policy for wind energy. Energy Policy 2014, 70:217-226. 10.1016/j.enpol.2014.03.016.
22. Frisari G., Stadelmann M. De-risking concentrated solar power in emerging markets: The role of policies and international finance institutions. Energy Policy 2015, 82:12-22. 10.1016/j.enpol.2015.02.011.
23. Ganesan K., Choudhury P., Palakshappa R., Jain R., Raje S. Assessing Green Industrial Policy-The India Experience 2014, Council on Energy, Environment and Water (CEEW) and International Institute for Sustainable Development (IISD).
24. Garud R., Karnoe P. Bricolage versus breakthrough: distributed and embedded agency in technology entrepreneurship. Res. Policy 2003, Special Issue. 10.1016/S0048-7333(02)00100-2.
25. Geels F.W. Processes and patterns in transitions and system innovations: refining the co-evolutionary multi-level perspective. Technol. Forecast. Social Change 2005, 72:681-696. 10.1016/j.techfore.2004.08.014.
26. Gosens J., Lu Y. Prospects for global market expansion of China's wind turbine manufacturing industry. Energy Policy 2014, 1-18. 10.1016/j.enpol.2013.12.055.
27. Gosens J., Lu Y. From lagging to leading? Technological innovation systems in emerging economies and the case of Chinese wind power. Energy Policy 2013, 60:234-250. 10.1016/j.enpol.2013.05.027.
28. GWEC Global Wind Report-Annual Market Update 2013, Global Wind Energy Council.
29. GWEC India Wind Energy Outlook-2012 2012, Global Wind Energy Council.
30. Hekkert M.P., Suurs R.A.A., Negro S.O., Kuhlmann S., Smits R.E.H.M. Functions of innovation systems: a new approach for analysing technological change. Technol. Forecast. Soc. Change 2007, 74:413-432. 10.1016/j.techfore.2006.03.002.
31. Hoppmann J., Huenteler J., Girod B. Compulsive policy-making-the evolution of the German feed-in tariff system for solar photovoltaic power. Res. Policy 2014, 43:1422-1441. 10.1016/j.respol.2014.01.014.
32. Huaxia Wind, 2013. Chinese wind power market and wind farm construction report (2013). Huaxia Wind Ltd., Beijing, China.
33. Huenteler J. International support for feed-in tariffs in developing countries-a review and analysis of proposed mechanisms. Renew. Sustain. Energy Rev. 2014, 39:857-873. 10.1016/j.rser.2014.07.124.
34. IEA World Energy Investment Outlook 2014, International Energy Agency, Paris, France.
35. IRENA Wind Power. Renewable Energy Technologies: Cost Analysis Series 2012, IRENA Working Paper 1: Power Sector.
36. IRENA, GWEC 30 Years of Policies for Wind Energy-Lessons from 12 Wind Energy Markets 2012, IRENA, GWEC.
37. Jacobsson S., Lauber V. The politics and policy of energy system transformation-explaining the German diffusion of renewable energy technology. Energy Policy 2006, 34:256-276. http://dx.doi.org/10.1016/j.enpol.2004.08.029.
38. Jakob M., Steckel J.C., Klasen S., Lay J., Grunewald N., Martínez-Zarzoso I., Renner S., Edenhofer O. Feasible mitigation actions in developing countries. Nat. Clim. Change 2014, 4:961-968. 10.1038/nclimate2370.
39. Jolly S., Raven R. Collective Institutional Entrepreneurship and Contestations in Wind Energy in India 2013, Eindhoven Center for Innovation Studies (ECIS).
40. Justice S. Private Financing of Renewable Energy-A Guide for Policymakers. Renewable Energy Finance Project 2009, Chatham House; Bloomberg New Energy Finance; and the UNEP Sustainable Energy Finance Initiative.
41. Karltorp K. Scaling up Renewable Energy Technologies-the Role of Resource Mobilisation in the Growth of Technological Innovation Systems 2014, Chalmers University of Technology.
42. Khanna T., Palepu K.G. Why focused strategies may be wrong for emerging markets. Harvard Bus. Rev. 1997, 75:41-54.
43. Khanna T., Palepu K.G., Sinha J. Strategies that fit emerging markets. Harvard Bus. Rev. 2005, 83:4-19.
44. Lema R., Berger A., Hubert S. China's Impact on the Global Wind Power Industry (No. Discussion Paper 16/2012) 2012, German Development Institute/Deutsches Institut für Entwicklungspolitik (DIE), Bonn.
45. Lewis J.I. Green Innovation in China: China's Wind Power Industry and the Global Transition to a Low-Carbon Economy 2012, Columbia University Press.
46. Lewis J.I. Building a national wind turbine industry: experiences from China, India and South Korea. Int. J. Technol. Glob. 2011, 5:281-305.
47. Lewis J.I., Wiser R.H. Fostering a renewable energy technology industry: an international comparison of wind industry policy support mechanisms. Energy Policy 2007, 35:1844-1857. 10.1016/j.enpol.2006.06.005.
48. Li H., Meng L., Wang Q., Zhou L.-A. Political connections, financing and firm performance: evidence from Chinese private firms. J. Dev. Econ. 2008, 87:283-299. 10.1016/j.jdeveco.2007.03.001.
49. Li J., Xie H., Tang W., Cai F., Gao H., Wang W., Qiao L., Yang X., Li X. China Wind Energy Outlook 2012, Chinese Renewable Energy Industries Association - Global Wind Energy Council - Greenpeace.
50. Loftus P.J., Cohen A.M., Long J.C.S., Jenkins J.D. A critical review of global decarbonization scenarios: what do they tell us about feasibility?. WIREs Clim. Change 2015, 6:93-112. 10.1002/wcc.324.
51. Markard J., Raven R., Truffer B. Sustainability transitions: An emerging field of research and its prospects. Res. Policy 2012, 41:955-967. 10.1016/j.respol.2012.02.013.
52. McElroy M.B., Lu X., Nielsen C.P., Wang Y. Potential for wind-generated electricity in China. Science 2009, 325:1378-1380. 10.1126/science.1175706.
53. Mizuno E. Enabling environment and policy principles for replicable technology transfer: lessons from wind energy in India. Diff. Renew. Energy Technol. 2011, 33.
54. Mizuno E. Cross-Border Transfer of Climate Change Mitigation Technologies: the Case of Wind Energy from Denmark and Germany to India 2007, Massachusetts Institute of Technology.
55. MNRE Proposed National Wind Energy Mission 2015, Ministry of New and Renewable Energy (MNRE), New Delhi, India.
56. Musiolik J., Markard J., Hekkert M. Networks and network resources in technological innovation systems: towards a conceptual framework for system building. Technological forecasting and social change, contains special section: actors. Strat. Resour. Sustain. Transit. 2012, 79:1032-1048. 10.1016/j.techfore.2012.01.003.
57. NDRC China's 13th Five Year Plan (2016-2020) 2015, National Development and Reform Commission (NDRC), Beijing, China.
58. Nemet G.F. Demand-pull, technology-push, and government-led incentives for non-incremental technical change. Res. Policy 2009, 38:700-709.
59. Ohara M., Vijayabaskar M., Lin H. Industrial Dynamics in China and India 2011, Palgrave Macmillan.
60. PACE-D Financing Renewable Energy in India: A Review of Current Status and Recommendations for Innovative Mechanisms, Partnership to Advance Clean Energy-Deployment (PACE-D) 2013, Technical Assistance Program.
61. Qiu Y., Anadon L.D. The price of wind power in China during its expansion: technology adoption, learning-by-doing, economies of scale, and manufacturing localization. Energy Econ. 2012, 34:772-785. 10.1016/j.eneco.2011.06.008.
62. Rodrik D. One Economics, Many Recipes: Globalization, Institutions, and Economic Growth 2009, Princeton University Press.
63. Rodrik D., Subramanian A. From Hindu Growth To Productivity Surge: The Mystery Of The Indian Growth Transition 2004, NBER Working Paper Series.
64. Ru P., Zhi Q., Zhang F., Zhong X., Li J., Su J. Behind the development of technology: the transition of innovation modes in China's wind turbine manufacturing industry. Energy Policy 2012, 1-12. 10.1016/j.enpol.2011.12.025.
65. Schmidt T.S. Low-carbon investment risks and de-risking. Nat. Clim. Change 2014, 4:237-239.
66. Shrimali G., Nelson D., Goel S., Konda C., Kumar R. Renewable deployment in India: financing costs and implications for policy. Energy Policy 2013, 1-16. 10.1016/j.enpol.2013.07.071.
67. Spratt S., Dong W., Krishna C., Sagar A.D., Qi Y. What Drives Wind and Solar Energy Investment in India and China? 2014, Institute of Development Studies.
68. Suurs R.A.A., Hekkert M.P., Kieboom S., Smits R.E.H.M. Understanding the formative stage of technological innovation system development: the case of natural gas as an automotive fuel. Energy Policy 2010, 38:419-431. 10.1016/j.enpol.2009.09.032.
69. Suzlon Suzlon Annual Reports 2004-2013 2013, Suzlon.
70. Tang T., Popp D. The Learning Process and Technological Change in Wind Power: Evidence from China's CDM Wind Projects 2014, NBER Working Paper Series 0-47.
71. The World Bank, 2013. Country and Lending Groups, Data [WWW Document]. URL (accessed 05.15.15.). http://data.worldbank.org/about/country-and-lending-groups.
72. UNEP, SEFI, SEF, 2008. Public Finance Mechanisms to Mobilize Investment in Climate Change Mitigation 1-40.
73. Vestas China, 2011. Vestas returns to Hainan province with a new order for 48MW. News Release No. 8/2011.
74. Waissbein O., Glemarec Y., Bayraktar H., Schmidt T.S. Derisking Renewable Energy Investment. A Framework to Support Policymakers in Selecting Public Instruments to Promote Renewable Energy Investment in Developing Countries 2013, United Nations Development Programme (UNDP), New York, NY.
75. Wiser R.H., Bolinger M., Barbose G.L. Using the Federal Production Tax Credit to Build a Durable Market for Wind Power in the United States 2007, Lawrence Berkeley National Laboratory.
76. Wüstenhagen R., Menichetti E. Strategic choices for renewable energy investment: Conceptual framework and opportunities for further research. Energy Policy 2012, 40:1-10. 10.1016/j.enpol.2011.06.050.
77. Wu Z., Sun H., Du Y. A large amount of idle capacity under rapid expansion: policy analysis on the dilemma of wind power utilization in China. Renew. Sustain. Energy Rev. 2014, 32:271-277. 10.1016/j.rser.2014.01.022.
78. Yu J., Ji F., Zhang L., Chen Y. An over painted oriental arts: evaluation of the development of the Chinese renewable energy market using the wind power market as a model. Energy Policy 2009, 37:5221-5225. 10.1016/j.enpol.2009.07.035.