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Erschienen in:
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2019 | OriginalPaper | Buchkapitel

1. Introduction: The Challenge of Achieving the Energy Transition

verfasst von : Jens Lowitzsch

Erschienen in: Energy Transition

Verlag: Springer International Publishing

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Abstract

Renewable energy (RE) has made considerable progress in the last 25 years. Financing in-vestments in renewable energy sources (RES), however, remains key to achieving the 2030 and 2050 goals of a low carbon economy with increased energy efficiency. Switching energy systems from fossil fuels to RES requires financial, technical and social innovation. A new energy infrastructure must be built and individuals motivated to adopt flexible consumption habits to match demand with the supply of volatile energy sources. In a market historically dominated by large suppliers heavily invested in fossil fuels, citizens investing in RES have become a new category of market participants and an important impetus for meeting this challenge. This raises the question of whether consumer ownership in RES is a transitory phenomenon or a necessary condition for transforming energy systems from fossil to re-newable sources, in short, the energy transition. If a necessary condition, then how do we go about broadening participation? Is consumer ownership of RE production facilities merely politically desirable to satisfy expectations of participation arising from a concern for distrib-utive justice or simply from expediency, that is, to make infrastructure projects publicly ac-ceptable? Or do sound economic arguments exist for broad public ownership in RES, argu-ments related to the structural differences between renewables and fossils on which the success of the Energy Transition depends? In the light of these questions this chapter gives an overview of the issues at stake, introduces the topics discussed in the book and suggests ideas for advancing the energy transition.

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Nächstes Kapitel Correction to: Consumer (Co-)Ownership in Renewables in California (USA)
Fußnoten
3
Or even 32 per cent if the provisional agreement reached between the European Parliament and Council on 14 June 2018 is confirmed by the official co-decision procedure after the summer break (Euractiv et al. 2018).
 
4
As early as 1972, Marshall McLuhan and Barrington Nevitt suggested in their book Take Today (p. 4) that technological progress would transform the consumer into a producer of electricity. The artificial word stemming from the Latin was probably first introduced by Alvin Toffler in his book The Third Wave (1980).
 
5
See, for example, the Commission Communication “Delivering a New Deal for Energy Consumers” (COM(2015) 339 final) stemming from the “summer package” of July 2015, focusing on energy efficiency, electricity market design, consumers and the Emission Trading System; furthermore, the EU “winter package” emphasising the role of energy security, intergovernmental agreements, gas infrastructure and a heating and cooling strategy.
 
6
Differences in capital costs between the different distributed generation technologies are also quite large, ranging from EUR 1000 per kW to over EUR 20,000 per kW for combustion turbines and fuel cells, respectively. The capital costs of large central plants, on the contrary, vary per kW from approximately EUR 800 for gas-fired plants to EUR 2500 for IGCC and EUR 6000 for nuclear plants (Schröder et al. 2013).
 
7
At the same time the decline in fossil fuel investment would be largely offset by a 150 per cent increase in RES investments between 2015 and 2050; IRENA estimates that total demand-side investments in low-carbon technologies would need to surge by a factor of ten over the same period (IRENA 2017; IRENA 2014).
 
8
The gross value added of the RES sector may increase to about EUR 100 (120) billion and employment in the RES sector would amount to 1.6 (2.1) million persons by 2030 if a target of 30 per cent (35 per cent) in terms of the gross final energy is implemented.
 
9
That is, optimisation of the size of technical installation, for example, a 100 kW “citizen wind turbine”, is not economically sound; scalable financing techniques on the other hand would help small investors pool their investment, boost it with leverage and build a more efficient standard industrial 1.2 MW wind turbine.
 
10
The notion of (co-)ownership is used here not in the technical sense of joint ownership but to indicate that there may be other owners next to the consumers amongst the shareholders such as municipalities or conventional investors.
 
11
A related definition of a project as community power is that of the World Wind Energy Association (WWEA) requiring at least two of the following three criteria: (1) local stakeholders own the majority or the whole project, (2) voting control rests with the community-based organisation, (3) the majority of social and economic benefits are distributed locally; available at: http://​www.​wwindea.​org/​communitypowerde​finition/​.
 
12
Definitions in the literature often refer to unique national concepts shaped by historical development and their corresponding business models (e.g. Walker and Simcock 2012) or stem from technological, economic and political characteristics (cf. Radtke 2016, p. 174).
 
13
The term “citizen” in this context encompasses both natural persons individually and organised, for example, civil society groups, social entrepreneurs, schools, micro enterprises, faith groups.
 
14
See Holstenkamp and Degenhart (2013); commonly used in Anglo-American countries and in particular in the UK, this term stresses the participation of local authorities, government departments and utility companies (REN 21 2016; Walker and Devine-Wright 2008).
 
15
The European Commission presented a package of measures on 30 November 2016 to keep the EU competitive as the clean energy transition changes global energy markets with four main goals, that is, putting energy efficiency first, achieving global leadership in RE, providing a fair deal for consumers and redesigning the internal electricity market.
 
16
Local energy community as defined in Article 2 of the recast Directive on common rules for the internal market in electricity (2016/​0380(COD)).
 
17
The RED II proposal of the European Commission and Parliament was even stronger requiring a minimum of 51 per cent ownership stake and corresponding control rights of these groups.
 
18
The CSOP was applied with spectacular success in the USA by its innovator, Louis O. Kelso, a business and financial lawyer (see Chap. 8). It is related to Kelso’s best-known financial innovation, the ESOP, which has enabled millions of American workers to become owners of their employer corporations, repaying the acquisition loan not from their wages but from the future earnings of their shares in the company. Today the ESOP is an integral part of American corporate finance. At the end of 2016 there were 6717 ESOP and 2898 ESOP-like plans in the USA, with about 14 million employees participating, that is, 13 per cent of private sector employees holding around USD 1.3 trillion in assets (NCEO n.d.).
 
19
COM(2015) 339 final and COM(2015) 340 final both of 15 July 2015.
 
20
See in particular “Best practices on Renewable Energy Self-consumption” (SWD(2015) 141 final), accompanying document to the Commission Communication “Delivering a New Deal for Energy Consumers” (COM(2015) 339 final).
 
21
See COM(2015) 339 final p. 6, (c) Reducing energy bills through self-generation and consumption: “Decentralised renewable energy generation, whether used by consumers for their own use or supplied to the system, can usefully complement centralised generation sources. Where self-consumption exhibits a good match between production and load, it can help reducing grid losses and congestion, saving network costs in the long-term that would otherwise have to be paid by consumers”.
 
22
See COM(2015) 339 final p. 6, (d) Increasing consumer participation through intermediation and collective schemes: “Collective schemes and community initiatives have been emerging with increasing frequency in a number of Member States. More and more consumers engage in collective self-generation and cooperative schemes to better manage their energy consumption. This innovation by consumers is also resulting in innovation for consumers and opens up new business models”.
 
23
In the UK, as part of DECC’s Community Energy Strategy, published on 27 January 2014, the renewables industry and the community energy sector committed to work together to facilitate a substantial increase in the shared ownership of new, commercial onshore renewables developments; an example of large suppliers supporting citizen (co-)ownership is the “Citizen’s RES Coop” initiated by RWE in Germany.
 
24
Social capital is a sociological term, which describes the rate of social cohesion (the “social climate” so to speak), willingness for cooperation and the potential for mobilisation.
 
25
The 2000 model law EEG is one of the legal acts most often copied in other countries around the world; it has been adopted and transferred worldwide: 71 countries and 28 states/provinces enacted some form of feed-in policies as of early 2013, led by developing countries with regard to number of FITs in place (REN21 2013).
 
26
There are a few large- and medium-scale projects in Germany that are financed via closed-end funds, but other business models suffer from high intra-organisational costs and high transaction costs (Yildiz 2013).
 
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Metadaten
Titel
Introduction: The Challenge of Achieving the Energy Transition
verfasst von
Jens Lowitzsch
Copyright-Jahr
2019
Verlag
Springer International Publishing
Buch
Energy Transition

Print ISBN: 978-3-319-93517-1

Electronic ISBN: 978-3-319-93518-8

Copyright-Jahr: 2019

DOI
https://doi.org/10.1007/978-3-319-93518-8_1